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Several shareholders have been pushing for an interim dividend..let's see.
Weds morning should be interesting.
There are catalysts coming for the FTSE.
It's the most widely discounted stock market among the G7. This is common knowledge. Its probably the most heavily shorted also.
In terms of P/E the FTSE is trading at HALF the level of the S&P and 50% below its historical average.
Inflation should drop to c. 2% by April and the way gas prices are back to pre war levels may even dip below that. An election in May (my view) and a change of government with a pre election tax cut and British stock ISA announced next month.
Mulder, Brexit started from 2020 and has shafted the economy permanently. So until its been rectified then it will remain an issue. Tories have increased immigration to massive levels to try and compensate but basically with so much constant outflow still going on then its hard to ignore.
Well we can't be blaming Brexit again and again after almost 8 years!
Hunt may announce a British listed stock ISA next month and may abolish stamp duty on UK listed stocks.
UK stocks are very, very cheap. My portfolio average is a p/e of only 8.
A change of government after a long and chaotic 14 years may help drive a change in sentiment and instil some sanity into markets. We can only live in hope....
Im puzzled here… wonder what it would take for this to rise, are SA elections affecting the price? This should be over 20s after last RNS… maybe the market knows more than we do…
Next week is going to be scorching.
The price action on the JSE in SA is fine.
Where would you rather invest - London/UK or SA?
Mulder, that is exactly part of the Brexit issue that's been widely written about. It's got worse in recent years. I'm just being the messenger.
Anyway, PAF SP is very deflated despite the GP constantly above 2000 and I bet there are many like myself hoping the 14th Feb can provide a turn of sentiment... An extra dividend would do it for me ))
Nothing to do with that either.
Short sellers and MMs have far too great a grip in London and the FCA are utterly useless and incompetent.
Hi Mulder,
Yes, but I thought the complaint you had was about daily outflows from the LSE which look institutional, which this explains.
Overall, I am not worried at all. I have never been bothered by differences between the exchanges with PAF, as just as you say, it all pretty much evens out. That 5% difference could just as easily disappear within a few hours of it appearing, or hang around for a while, then not.
If you are talking about the FTSE as a whole then yes it is trading at a very low multiple compared to the S&P for example which is at a 20x P/E.
FTSE is sub 10 and shares like this mid single digit only.
However, when a share is listed on more than one exchange then the prices should match! Give or take 0.1 or 0.2%, not 5%!
I would have to disagree. We have a diverse portfolio of 100+ stocks including African based companies such as Gemfields and that is trading at a premium to JSE actually while others match the overseas price.
Your Seplat example is an extreme one and is mostly due to the huge depreciation of the Nigerian Naira which seems to depreciate by 50% every few weeks!
Hi Mulder
I think you'll find this is all too common with many shares and companies listed in the UK, since Brexit there has been constant outflows from the LSE.
Even the right-wing papers like the "ToryGraph" are on to it.
It would explain the constant sells and price suppression that's across the LSE.
https://www.telegraph.co.uk/business/2024/01/13/brexit-prime-suspect-death-london-stock-market/
https://www.bloomberg.com/news/articles/2023-12-18/-screamingly-cheap-british-stocks-are-again-a-hard-sell-in-2024?leadSource=uverify%20wall
Another one of my African investments Seplat, has a constant 20% to 40% discount to it's African listing.
This has got absolutely nothing to do with the gold price.
Or FX. Or liquidity.
Posters on this board have admitted trading and manipulating the SP day to day.
It's been going on for years now.
FCA teams are not acting on the data and information. Everything has been recorded, forms have been submitted, PAFs own brokers are allegedly 'on to it' yet the same pattern and gross underperformance day after day.
We have informed the FCA market abuse teams - there's plenty of data and evidence now, over a long duration of time. Clear rigging and market manipulation.
Hopefully a takeover RNS will come out any day now and teach the traders and short sellers a harsh lesson.
Results a week away and an interim dividend is not out of the question.
Crazy price movement, gold going up… every day similar story (traders paradiso this…)
1415 was the time today when the market manipulators drove the SP down.
FCA informed.
SP reacted on price of gold which dropped 1% today
Day after day its the same pattern. Sell off from 1430 onwards.
The real closing price today should have been 18p NOT 17.3p
So WTF AGAIN?
Next few weeks should be volatile
Can’t believe we are at these levels esp after todays news, what’s wrong with this market!!
2.2m share trade.406k at 18.4545. Above mid.
Don’t see many of them here.
Usual caveats
Trek
Solid numbers, I make a projected PE below 5 for the current year, this without considering any further increase in gold price. More to come from POG and extra 50k/oz production by year end, no debt worries and plenty of visibility with reserves/resources. PAF imo is the best UK gold miner at the moment and for the rest of the year.
We're up 4%, but to be honest we should be up by 4% just on the gold price movements already let alone a 45% increase in earnings. Surely the PAF SP is heading to the mid 20s, an extra 50k oz of production next year should take us to the 30s, even if it does the P/E will probably still be less than 4 or thereabouts.