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I simply asked a question as just mentioning what I have been seeing, weakness in other shares which I've noticed tend to move in a similar pattern to TUI - Mike too has mentioned this pattern going on for many months now. If you have a counter opinion please share it.
And just to reinforce, Savage, give it a break.
What a terrible couple of weeks.
Savage, give it a break.
Stupmy, wherefore hath thou departed since your 414 prediction?
I'm now seeing some early signals of selling and either almost red, or slightly red, on my watchlist... could we be in for another sell off and Sea of Red by COP today?
Thanks, Mike, for that extremely well thought out reply. I totally agree with you comments on the US market and its impact on us & TUI - time and again I have seen, as you have, that it opens poorly and we slump, then we close and it trends up. What confused / confuses me is that these last two slumps happened an hour more more BEFORE the US markets open. Perhaps there is some pre-opening activity that triggers it. But usually a bad US opening can be predicted from Futures so why does London - dozens of different shares (Kingfisher, Pets at Home, TUI etc - all panic within minutes of each other? And then, usually, recover, at least a little bit. I always think it must be a rate announcement or a report on jobs or home sales or something. At least, as you suggest, today is likely to open up. Fingers crossed.
Hi WackWack,
As frustrated as you are - so we we're up 10p at our best today and ended -3.5p, which I know is neither here nor there in reality, BUT like you and I'm sure everyone else, prefer to see us in the green each and every day.
As SK has suggested, I equally agree that it's the US markets that are clearly leading the pack and when they have a bad day, like today, we all follow downwards. Also, the US markets typically 'plunge' mid pm and then after we close in Europe, they tend to 'miraculously' head upwards, which again they are doing right now. The only good news out of that, is that it suggests we are likely to open on the 'up' tomorrow - when I say, 'we', I mean the markets and just have to then see what it means for ourselves and Tui.
Guess for me, I always look at our market generally and if everyone else is down - which apart from Wizz at a tiny 2p in the green - everyone else in our market was down too - when that happens, I'm ok with it!
Mike --- All in the same note including everything in my other posts today. Would have liked to have put a copy on here but just don't know how to do it with my tablet. But yes as stated we on Halifax have until 15th May to trade Tui on Halifax.
Lots of US data has been released Tue, Wed + today (ahead of market open just like they do here)... could those be the triggers?
For the second day in a row, every share I track has had a good morning then tanked post 1 pm - yesterday close to 1.30 pm, today 1.15 pm. Some announcement / figures somewhere seems to kill the day. Any hints please?
The statement from Halifax also states:
"Following completion of the move to Frankfurt, you will be subject to our International Trading Model. All details, including Dealing Charges, FX Charges and TradePlans Policy, can be found on our website. "
This suggests, investors will CONTINUE to see their listing on Halifax, just traded via international and currency conversion etc as you do when you buy US or other foreign stocks and shares.
I personally think the approach is good and takes care of the process well for investors on Halifax.
I have been holding TUI for sometime and now they have returned to profit, need to see a re-rate at some point.
That's a really curious approach and perhaps you were correct Mike, maybe their systems cannot handle it so they've had to outsource the solution and go ahead of the pack to ensure it processes correctly/orderly from them and their clients perspective.
Hi mas,
Many thanks for sharing - interesting they quote 'transfer to their international custodian', which likely suggests that they use a third party for trading in German shares? As such, transfer time etc may well be lengthy - may want to check who the third party custodian is?
Doesn't mention anything about the 14th May though and that you have to sell by then, or is that a separate note?
"Before the cancellation on the lse , we will convert your Tui Depositary interests to the underlying Ordinary Shares and transfer them to our international custodian. This will allow you to continue trading in your Tui shares on the Frankfurt exchange. We expect the transfer to take several days. The Tui shares will continue to be eligible to be held in an Isa or Sipp following the transfer to Frankfurt."
Hi mas,
Many thanks for coming back - if I'm honest, I think many on here are simply 'very interested' in Halifax's stance and especially as it seems so far away from what we've already been told by Tui and their prospectus.
As SK suggests, it may simply be that their systems are less advanced than others and they need some time to get things sorted.
Would you mind checking out more with Halifax and letting us know - if not, totally understand, but if you or beatrootjuice are up for contacting Halifax; sharing the prospectus maybe and letting us know their thinking, would be great.
Equally of course, Tui could come out with an announcement tomorrow - would just be my luck eh ref timing etc and say exactly what Halifax has said - hence our curiosity
Best
My assumption from their wording is that there will be no fees involved in the transfer for us. Certainly no mention. Basically says --- do nothing by 15th May and our shares will be automatically transferred over. But as you say better to clarify
Mas/Mike... what's also unclear is if Halifax goes early and sells its clients holdings on LSE, to move them over to Frankfurt, perhaps simultaneously allowing its clients to commence trading on the Frankfurt exchange, then what impact will that have on the SP for the remainder held on LSE? With trading set to continue on LSE could there be a price adjustment? Or will the qty of shares being taken out of circulation on LSE mean there's no SP adjustment (as simultaneously there would also be fewer shares in circulation too?)... Lots needs clarifying here imo and I agree with you there mike, It may be well worth putting in a call to Halifax. I'd be working on basis there's something in this for Halifax, charges to move clients holdings/exchange fees/trading fees for those who get concerned and just sell up?.. It's all quite odd! HL should be easy as they already permit trading on the key global stock exchanges and more.
Hi mas & beatrootjuice,
Many thanks for the clarity, although like SK, it seems 'really strange' and certainly not in line with what Tui is saying about trading through to and including the 21st June 2024.
Like SK, I'm with HL and I'm certainly expecting HL, like most others if not all other brokers to wait until Tui comms to us all about the relevant next steps and very likely on the 15th May 2024, alongside the Half Year results.
Additionally and as shared previously, if you do indeed sell or transfer WHO will pay the charges for Halifax? Really does sound 'peculiar' and if I was with the Halifax, I'd drop them a line directly to the trading team; send over the copy of the prospectus as I shared yesterday and ask for more information and again clarify on costs.
GLA
I suppose it depends how you look at it. It probably means us Halifax customers will be able to trade on Frankfurt sooner than we anticipated.
I find the Halifax approach a tad strange... Glad I'm not with them tbh! HL here.
Halifax will start trading Tui on Frankfurt on 16th May and when their transfer process is complete we will be able to trade on there. All the info i have given is what Halifax have stated on their corporate action notification to me.
Yes , Halifax will stop trading Tui on Lse at close of business on 15th May
Mas... so anyone wishing to sell after May 15th gets blocked from doing so on the Halifax platforms?
SK -- Halifax are simply saying that if you don't want your shares automatically transferred to Frankfurt then you must sell by 15th May simply in order for the transferring process to be as quick as possible to enable trading on Frankfurt to be as quick as possible.
Most notable & hopefully has follow thru for TUI - "Fuel CASK (cost per ASK), including the cost of carbon and fuel hedging, is expected to be 23-24 per cent lower vs. last year".
https://www.ii.co.uk/news/f24-post-close-trading-statement-rnsLSE20240425070009_5156844
Halifax look to be washing their hands of the delisting? Almost reads (and I'm not with Halifax, I don't have copy of their words) as if they're setting the earlier date on May 15th to make it easier for themselves? They may be banking on vast majority of clients reading the info and selling up?