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back in today at 63p hope i dont regret it
bought some of these this morning for the long term
I see a couple more purchases went through again today. http://investing.thisismoney.co.uk/cgi-bin/digitalcorporate/thisismoney/watcher.cgi?watcher=director_dealings_watcher&stock_ex=LSE,OFEX.
to open lower
sorry i mean craggy lol I must get some glasses
I might have a punt on this one, if they don't go up in the morning they have gone up and down with the banks
Date: Thursday 19 Mar 2009 LONDON (ShareCast) - Friends Provident directors have bought heavily into the life group but they couldn’t stop its share price falling today while the rest of the sector flew ahead.
Chief executive Trevor Matthews bought 764,632 shares at 65.4p each. Yesterday he was also awarded of 681,327 shares at nil cost as compensation for the loss of his long-term incentive arrangements with previous employer Standard Life. One third of the deferred share award will vest on 30 July 2009 and the remaining two-thirds will vest on 30 July 2010. To encourage him still further, Matthews has also been granted a nil cost award of up to 4.171m shares under a Turnaround Plan. They vest over a five-year period, subject to performance criteria. Also buying yesterday were independent director Robin Phipps, who acquired 70,000 ordinary shares at 69.6p and chairman Sir Adrian Montague who bought 77,079 shares at 61.3p. On Tuesday, Friends warned it expects new business in early 2009 to be below 2008, while also setting aside £217m for possible defaults in its corporate bond portfolio. The life group also cut its dividend and said 2009 will be a tough year. Pre-tax losses from continuing operations rose to £871m from £113m last time as took additional charges of £264m for 52% owned F&C Asset Management (FCAM) and £154m for losses attributable to minority interests in the F&C Commercial Property Trust.
Top Director Buys Friends Provident (FP.) Director name: Mr Trevor Matthews Amount purchased: 764,632 @ 65.40p Value: £500,069
Analysts have knocked this one look at Uk finance web site and u will see one analyst says to avoid. The directors bought in yesterday. Top man bought £500k at 65p, i think if this hits 55p it will be worth a punt personally. They site cash flow as a problem then other analysts reckon they are being conservative with provision for bad debt versus peers! I see a bargain long term as Mathews is on a bonus to turn this around so it is obviosuly in his interest.
Nearly 2m more buys than sells yet it goes down 3.10 (5.02%)
considering the current economic crisis. this company did rather well but the price did not move north enough.... i wonder why? appreciate any ideas.
Date Topic Event 17 Mar 09 Results Preliminary Results - 2008 28 Apr 09 Results Interim management statement plus quarter 1 new business 11 Aug 09 Results Interim results - 2009 27 Oct 09 Results Interim management statement plus quarter 3 new business
Nice rise today, hope it stays there & heads north tomorrow. Preliminary results due 17th March and goes ex dividend 16th April (final)
"Life and pensions group Friends Provident's sales fell by 4% in the last three months of 2008 with the UK again the weak spot. Total full year life and pensions new business is down by 11% to £1bn (2007: £1.14bn). International life and pensions full year new business rose by 19% to £456m APE (2007: £385m), comprising Friends Provident International up by 13% and Lombard up by 24%."
Okay...there it goes again...9.32% share drop but double BUYS compare to Sells ? If more people are buying then surely...supply & demand?...share prices go up???
Yeah...i agree! seems strange that if a share is in less demand (i.e. more sales than purchases) that the price should go 'up' (like today for example). I guess that this share has rocketed due to it's recent acquisition but then...surely it's a better BUY then too? Supply and demand don't seem to affect here...any experts shed light on this trend as it's not just FP shares...others do this too ! Still, it's nice to see FP on the up........
Can someone explain why it appears that when there are more sells than buys the sp goes up and when there are more buys than sells it goes down.
http://www.investegate.co.uk/Article.aspx?id=200811281233311787J
Shares in Friends Provident fall as much as 17 percent as traders say the stock is readjusting back towards more normal levels after closing 28 percent higher on Tuesday, driven by two trades late in the session. 'On the close, Friends went from 52 to 65 pence,' says one trader. 'Quite simply it has readjusted.' 'We don't know why, it could be a squeeze, there is all sorts of volatility and it is undervalued as a sector,' the trader says. Traders and analysts are unable to pinpoint the exact reason for the sudden pre-close rise, with one describing it as a 'freaky movement'. One of the two trades was for 782,005 shares, Reuters data shows. The shares are 11.1 percent lower at 57.8 pence by 1237 GMT but still comfortably above Monday's closing price of 50.7 pence.
Tried to buy some more on line at lunch time today ,But for some reason it would only let me buy 10 shares,I wish id been a bit more persistent now .i didnt expect that sort of rise so soon.
..well that was interesting , some late buying coming in , the low SP level has caught somebodies attention other than us mortals. I think the sector needs to shake off the doubt surrounding the potential write down on company bonds and capital strength. Prudential and Aviva produced good results and I think that until Standard Life report later this week , doubts will remain and drag on the sectors overal value. OML had a wild day going from c.10%+ to c.10%-. LGEN and PRU seeing a little profit take from recent gains from the lows , Standard Life still under the cosh until it can shake the rumours and Aviva having some good initial support.
i thought id buy a load when they reached 65p .i bought 500 at 68 and thought that was a good price they did me a favour only letting me buy 500 on line as it turned out .you buy on what seems a low and the next week its half again.who knows how low things are going to get my problem is im running out of topping up money
my exposure to FP is lower than some of my other insurers that I am picking up , primarily as they are being sighted alongside Standard Life as being lower capitalised than other insurers and the rumour mill doing the rounds is that the government could step in on some insurers to re-capitalise. But , as far as I am concerned , worthy to start dipping into to the sector and as long as you have the stomach and cash to hold on any further dips , should be a good recovery and dividend in play mid term. I do like OML at the moment , lots of bad press , but not a huge amount of movement in the SP when the FTSE plunged - 8% compared to some others in the sector. Going ex-div on Wednesday so could be a play on Tuesday if the FTSE decides it wants to drop another 200 points +. , just my opinion.