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Its about the only one going the wrong way. i think by this afternoon it will correct. a bit more negative insight and updates on the economies and shares will be up and away as QE gets closer, interest rate reduction!! the irony that this market now represents free/cheap money rather than actual economics
Otherwise, I think DramChart is right with his algorythem theory. It is interesting that the sudden rise in the share price did not occur until a few hours after the major buy.
Probably nothing more than some good old fashioned manipulation.
In the absence of new, I'm beginning to suspect phat fingers or algos responding to the 200-day moving average. But I'm holding long term for the divi and would be happy to top up again below 480 :)
Pump and dump, somebody is making good money out of these shares!!!
Perhaps a bit more of a drop first for those of us who want to replenish what we sold.
That's the traders and news speculators out of it. hope for steady rise from here now
Early doors..... oh er ! :)
Lol yes. Not the phrase I would have used.
But je suis ready. We have had a golden "once in multi-decade" opportunity to build up a Portfolio of UK Stocks and lock in superb Yields. Blue chips such as PHNX. BATS, LGEN, IMB, HSBA and others, that offer between 8-10% yields. Thank you very much, Mr. Market.
A ticking time bomb?
Sean1986 agree 100 %
I think a lot of Friday was to do with several factors.
The £250,000,000 debt reduction in on go was significant, not just because it saves interest but it also proves PHNX is generating the cash to do so, and pay the dividend. Algos take time to reflect these facts, hence the delay.
Other factors include the US starting to notice the bargains here. PHNX is a small fish to the US funds, and if it is eaten up it may be that the shares are bought by cash generating funds to supplement growth.
We are sat on a ticking time bomb, let’s hope we are ready.
Agree someone is happy to buy some £ 50M/10m worth of shares either they know something or they covering their shorts..
I'm hoping to see 530 Tuesday...
Still no logical reason for that huge 13m of traded shares last Friday?
GLG increased their short on 2nd May. Ouch!
Trek
Thanks Slikoil and bro-ken-broker for advice re reducing the adverts on here and I'll try your suggestions later. I don't get them on my laptop, which I'm currently on, because I've "Ghostery Tracker Ad Blocker" Chrome Extension blocking the adverts, but this and similar others don't work for smart phones !! And I'm not paying to block them !!
Looking forward to see what happens with PHNX tomorrow re why large price rise 3/5/24 and what if any action our Shorters take !!
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MTB Thanks for the informative post/view maybe it is another of the mighty 10 who have an appetite to bag a bargain...
This isn't really a traditional insurance company any more - it's a bulk annutiy company where large UK pension schemes move mostly pension (but some deferred) liabilities to them and pay a premium for doing so. The gilts crises actually accelerated this process as it actually increased funding for most UK schemes to the such an extent that many more can now afford to undertake these transactions. The growth and success here is being underplayed due to recent accounting changes which force annutity companies to recognise profits through the P&L over time rather than one lump which is why they now focus on operating cash generation rather than eps - and it will be generating op cash broadly equivalent to its market cap over the next 3 years!!. The market believes that the dividend is unsustainable, but I believe the opposite - that it will continue to grow from here. I suspect the stock is indeed a ripe target for someone, though not convinced it's WB as this is a different area of insurance than he is familiar with. Overall - very strong buy!!
Clued, try using the Brave browser to minimise ads.
There was a massive spike in volume that started suddenly at 2.38pm and continued until close.
Funny you should say that, Toff, I was thinking Warrenn for the same reasons you did. He likes and has made his fortune on Insurance. And Coca Cola, amongst a few others.
That would make sense Blackfriars except the timing does not add up. The RNS was out at 11am but the shares did not move until 14.30
FWIW…………the £250 million early debt repayment announced in yesterday’s RNS saves north of £14 million per annum on interest, this alongside the deleveraging of the balance sheet the most likely explanation for the share price rise.
Whoever is staking the Phoenix is also having a nibble at Abrdn who has a 10% stake in Phoenix, which might be useful in case of a meaningful takeover.. unfortunately, foreign companies do not appear on 13F as they are not listed on the US stock exchange.