Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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>>Anyway onwards and upwards I added £3k this morning of money I can't afford to put in
And another £15k, also of money I can't afford to put in. At sub 6p I will continue to rummage for all the beans I can find.... GLA
wasa - you're right the shares are fungible (they are the same class - there is only one). However, changing between registers to be able to trade on a different exchange isn't normally straight forward so for retail investors at least there aren't arbitrage opportunities from a practical perspective. I don't know how much easier it is for MMs to do it but suspect it's easier for them than anyone else (please don't anyone read this as being that I think there is any kind of MM conspiracy against them)
Could MM's have been responding to demand from Canada? AFAIK the shares are fungible? Anyway onwards and upwards I added £3k this morning of money I can't afford to put in but rude not to at these levels.... FWIW I am rather hoping for news this week or next, from the company, something quite meaty/juicy would be good - bank credit approved. Then still believe completion of finance package in September is likely/desirable.
Thank you swest. I did wonder what I had done to upset Otho. I don't mind being told that I am incorrect (and see below, I dont think I was!) but there are ways and means! Conduct unbecoming.
FWIW D220 I thought the reply to you Sunday was rather rudely written. You clearly have good knowledge, disagreement is fine, however best to stay polite.
Patatas, totally agree, no news after fridays is good news. The drop off from mid afternoon looked suspect to me but I obviously spout nonsense and know nothing. I freely admit that as I am not and never have been close to the workings of The City, I don't know the details of how an RNS is logged/released. But I bet the CEO doesn't email the Regulatory News Service at 6.55 for a 7.00 release.
Perhaps Otho would like to share his knowledge and wisdom with us lesser mortals?
Zebbo said..."Sorry, but you cannot arbitrage HZM across the 2 exchanges"
Serious question....why not?
I have not considered HZM a leaky ship since I cashed in some chips here for minor home improvements two days before Orion’s $25 million landed. Would have doubled my money and it still hurts!
Otho, I assume D220 meant there was one coming out today and some news had slipped (as is mega common, especially in small listed businesses).
D220 I was waiting for something to pop too but I would say no news is good news right now.
Everyone else, please ignore chartists, no one who actually invests for a living uses them. I worked in IB across desks and products for 14 years and no one uses chart trends.
@D220: what utter nonsense. No one logs an RNS during market hours for release on another day. You clearly don’t know what you are talking about.
Just looking again at Fridays share price graph, the drop off started around 14.30. Looks suspiciously like the time that an RNS would be logged for release at 7am Monday with some less than pleasing news. I will look with trepidation tomorrow morning and hope that I am wrong.
The volume of shares that would need to be traded to make anything like decent money between the two indices would move the prices closer (and probably increase spreads) therefore making non profit making. PIs couldn't, but IIs might manage a bit.
That is the original/old version of the term of arbitrage. It was devised initially to trade identical commodities in different locations. The term nowadays may be between an ordinary share and a convertible bond, a warrant, a similar stock ets etc
From the Oxford English Dictionary:
"Arbitrage - Trade in bills of exchange or stocks in different markets to take advantage of their different prices."
No comment.
Sorry, but you cannot arbitrage HZM across the 2 exchanges
There will always be arbitrage. It will be imperfect but it will always be there. If the prices get significantly out of line there is free money to be made, and that is an opportunity no MM can pass up
Not wanting to pour cold water on Canada performance, however the SPs do not have to correlate and can be wildly different. That goes for all stocks. No arbitrage stuff going on here
Noticed we actually went up 5% in Canada last night-but on decent volume as several have noted below, which makes me take it more seriously.