Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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@Bald Eagle - "Perhaps it is OK to be boring if you run a bank!?" Thats what the thinking was when Antony Jenkins was appointed after Bobbie D. He was got rid off but not sure he is too worried after reading this last week https://news.sky.com/story/ousted-barclays-chief-jenkins-worth-200m-as-blackrock-buys-10x-stake-12325335
Bank of England Base Rate decision tomorrow lunch time. whilst i suspect the 'status quo' to remain any clues to the timing of an indicative rate increase will be what the markets will be listening for.
in addition US job redundancy numbers today/tomorrow…
There was some guy on TV yesterday talking about Christmas prices (presumably for toys & stuff) shooting up this year....whilst looking at the 'Evergiven' container ship docking in UK (the one that got stuck in Suez canal). So inflation is going to continue to rise....especially with petrol pump prices currently at 8 year high.
Question is how long inflation will remain high and what damage will it do.
Central banks will want to keep interest rates low to support businesses. At some point something has to give.
It's almost like we are in a honeymoon period at the moment. People (in UK) are happy that virus seems under control. But at some point we have to come to terms with the costs that have built up and how we are going to pay....some creative accountancy I foresee.
One of reason the UK banks shares are underperformed to the rest mainly due to central bankers are too timid to raise interest even though inflation is rising sharply. IMHO the day is fast approaching that the central banks round the world going panic raising rates as the current kidology of the transient nonsense
Sunny63, another £5.8m declared as purchased this morning via yesterday’s trading day. The share price really needs to close above £1.80 if the Buybacks are looking to achieve an increase in share price imho. I will see where the shares are come c.o.b. on Friday to confirm the trading range of the rinse and repeat cycle. Hmmmm…?
Good Luck My Friend
They help the long term investor more than a surfer dipping in and out.
Buying back under valued shares is a good investment.
"If the board believes the shares are materially undervalued, it makes sense to buy them back"
====================================================
Doesn't it depend upon what they want the share buy-back to achieve. Perhaps it is 'simply' to reduce the number of shares in circulation & hence increase EPS (cynical people may suggest that BOD bonuses are linked to an increasing EPS...but what do I know!)
Some companies may buy 'cheap' shares and store them in treasury....then when/if SP rises they use those shares to purchase a third party company that adds value to the business through synergy or new markets. It's all about leverage.
Buying back shares & cancelling them shows a lack of imagination, it is the safe (boring) option. I suppose banks should have people in charge who are slightly 'boring'....perhaps that is the problem with Barclays over the last decade, the leadership (eg 'sparkling' bob diamond) were investment bankers who liked taking risks & encouraged staff to sail close to the wind. Perhaps it is OK to be boring if you run a bank!?
Agreed FortunateSon. If the board believes the shares are materially undervalued, it makes sense to buy them back. Whilst buy-backs have not previously resulted in any price gains in the shares generally, I think this reflects the fact that the market is still quite negative on bank shares. Hopefully, if the sector re-rates, there will be some clear benefits from the buy-back. Of course if there isn't a re-rating and sentiment remains depressed, there will be no benefit. Personally, I think that as and when there is more confidence that covid is no longer a major threat to the economy and there is clarity around provisions/covid losses, we will see that re-rating.
Surely share buybacks make sense while the share price is undervalued? Those purchased shares do have an effect on the share price as they’re purchased from the market. If they are not bought by the bank, the price would be lower. Even if the funds had been used to increase the dividend, it wouldn’t be a big difference.
Share buy back has commenced and wouldn't you know it, the share price is down. SHARE BUY BACKS ACHIEVE NO PURPOSE WHATSOEVER - they have never resulted in boosting the share price. Yesterdays average price was £1.767 - today they buy more at a cheaper price. What a waste of resources.
Last share buyback resulted in the share price falling. All BPs share buybacks the same; aviva the same; lloys the same. Never seen one yet boosting the share price
Mr A, the current range seems to be 175 - 1.78. Thinking of topping up at 174.8 before the price goes above 1.80? Hope you are well and good luck with your investments.
A start, just over half the new shares issued sine the end of the previous buy-back have been purchased. Another day similar to yesterday will have the numbers back to where we were in April.
Forget my precise calculation… D’oh! still circa a purchase of £5.9m
At the averaged price of 177.6432p, that works out at circa a £5.9m purchase… or £5,919,175.84 to be precise.
Any thoughts towards buying on the dips, should they appear?
All imho please MYOC and GLA
Unlike last quarter, straight out of the traps, no delays to purchase.
Tue, 3rd Aug 2021 07:30
RNS Number : 3245H
Barclays PLC
03 August 2021
3 August 2021
Barclays PLC
Transaction in own shares
Barclays PLC (the "Company") announces that it has purchased for cancellation the following number of its ordinary shares of 25 pence each on the London Stock Exchange from Citigroup Global Markets Limited as part of its buy-back announced on 2 August 2021.
Date of purchase:
2 August 2021
Number of ordinary shares purchased:
3,370,000
Highest price paid per share:
179.2000p
Lowest price paid per share:
175.6800p
Volume weighted average price paid per share:
177.6432p