Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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That's probably going to leave under 130p behind for good!
Looking for a new range
That is good news!
I'm being contrarian because the presumed sell off is likely to trigger further buying and shortly PFC get back into Ftse250 again and maybe back into ftse100 in 3 years time!
if should n't take much effort when the dust settles on sfo for pfc to get back into the 250, when in the final outcome due?
Neversell.
Quite!
My letter to my MP went off yesterday after a bit of fine-tuning by way of adding a comment to the effect that any fine imposed on "the Company" is, in reality taking shareholders' hard earned savings and giving them to the Government i.e. yet another form of back door taxation.
Incidentally one letter from me ain't going to make a jot of difference I feel BUT if all you good folk out there wrote to your MP's registering your feelings about the way the SFO is still b.......g
about after nearly 4 years it might, just might make a difference. Doing nothing is tantamount to
condoning sheer pettifogging bureaucracy, so PLEASE folks- do your bit for the cause.
Thanks
(I'm sure you're all very capable at writing your own letters but if you require an indication of the contents of mine please feel free to contact me)
take hsbc for example...
HSBC FTSE 250 INDEX
HSBC have a straightforward approach to managing this fund. They invest in every company in the FTSE 250 Index and in the same proportion. This is called 'full replication'. It minimises the risk of the fund differing too much from the index. They don't lend shares to other companies, like some other tracker managers do with a view to reduce costs, as this would add risk to the fund.
..................
i wouldn't worry about which funds hold what - horses for courses
Hope you’ve got some patience with the speed the SFO work....
What happens if ftse 250 funds need to close their PFC position by 22nd March but have lent their stock to shorters already? How do you even check how much is held by ftse 250 only funds?
Index will have little/no bearing on customer contracts. And POO and OPEC has an influence on PFC because oil industry is an important sector for PFC. Higher oil price would filter to more E&P and more potential work for PFC.
I'm a LTH here and am waiting for when there is more clarity from SFO
Double edged, If this price recovers, as many here hope, it will return to 250 in short order. Only a sideshow and trading opportunity.
Correlation with oil price and Opec decisions as they affect what free capital oil companies can invest in projects. The upward oil price trend bodes well for PFC. Expect volatility as part of normal day to day trading with PFC.. GLA.
I have no Agenda, I have a holding with an additional buy order set
Forgive me, but why are there references to Opec & POO?
In my very limited knowledge, it has very little if no impact at all to a company like PFC??
We’re not producing, we’re servicing, so all contracts / business activities are down to the producers requirements. Obviously PFC have other business links, but those would be even less tied to POO.
Please could someone correct me
yep and some funds just focus on 250 shares, in the same way 100 funds do - which means some forced selling and we will pick up buyers as well.
Agreed Sea, i suppose maybe there's a prestige thing about being in the higher indexes but i can't see it influencing the SP too much. 110 would be back to shorters swarming the place which we all recall. I'm in quite heavy on BP too & that SP seems to be buzzing about OPEC stuff tomoz. I'm sure if that's positive news this will be up. Needs to break that 135 stubborn level then we'll see a good rise here!
Very true Sea... Our index won't stop the contracts rolling in!
petrofac customers couldn't care less which index the company sits in - it is irrelevant to them.
couple of percent drop for falling out of the 250 - means nothing - this isn't football.
a fall to 110??? based on what? dropping from an index. No way will a stock lose 15% based on that. OPEC talks tomorrow i think we would see a rise here if anything!
Really??.. Jeez, see what tomorrow brings now
I reckon there will be a sell-off tomorrow maybe hitting £1.10, but then over the coming weeks the share price will recover back to around £1.30. This stock is too undervalued already.
Anyone else have any thoughts?
I guess that will mean more selling as the funds bail out ....
Oh well....Every seller meets a buyer........
FTSE Russell confirmed on Wednesday that the following changes will take effect to its UK indices from the market open on Monday, March 22, after completing its quarterly review.
FTSE 250 Adds:
Dr Martens PLC
Bytes Technology Group PLC
Chrysalis Investments Ltd
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FTSE 250 Deletes:
Petrofac Ltd
BMO Commercial Property Trust Ltd
NextEnergy Solar Fund Ltd