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No RNS - But judging by the volumes some may well have happened- reporting probably at 7am tomorrow.
10,662,766 shares were purchased by MS today
LTI - Thanks for that number, I read that they intend to hold them in treasury and these may be used to satisfy various employee schemes or cancelled. But from last nights RNS I read the already hold over 1bn shares in treasury- seems a lot - an idea of the reasons for this.
Excellent sp reaction over at BT today - perhaps the sector will come back into favour.
MP
'' I read that they intend to hold them in treasury and these may be used to satisfy various employee schemes or cancelled.''
Yes.
They have in the past (over many years) done a number of buybacks and held in treasury, a number of which were ones to offset shares issued via convertible bonds.
There has in the past been over 5 Billion shares held in treasury.
Money buying back shares will certainly go a lot further at today's prices.
LTI
Thanks for the response - We have spoken before - comparing the LLOY buybacks versus the CNA buybacks and their impact on the respective share prices - and that is settled.
So, now can we compare the buyback expectations for the VOD buybacks versus the CNA buybacks (theses I know have stopped). My view is that VOD have performed woefully in a sector that has been out of favour with the city and investors. VOD have sold underperforming businesses and have another ongoing sale (completion 2025) and plan 4bn euro buybacks over the next 2/3 years a really large % of market cap - how do you see this impacting the share price / market cap. WOW that was a bit long winded.
Seems like FOMO will soon set in here. I don't mean instantly but like Rolls Royce, people will not want to miss out below 80p.
80p close would be great 🥳
More pain for guttersnipe today
MP
''4bn euro buybacks over the next 2/3 years a really large % of market cap - how do you see this impacting the share price / market cap''
The market decides on the valuation of Vodafone on a daily basis - buybacks have ZERO influence on that .
If buybacks reduced the share count by 15% and the market maintained the current valuation at £21 Billion, then the price per share would have risen by 15% - simple.
Reducing the share count would increase the per share metrics.
Long-term investor - I disagree this time
I think the buybacks are large enough to upset the algos
I recon this will be going up as long as buybacks continue I think the effect of buybacks will be a large influence on the share price. Not indefinite but significant.
Csp
''I think the effect of buybacks will be a large influence on the share price''
the main factor to an increased share price is what the market believes to be the future prospects and profitability of Vodafone. We have now had the results which the market is digesting.
A reduction in share count will increase an investors percentage ownership and increase per share metrics.
The market decides on a daily basis the market capitalisation.
Csb
''I think the buybacks are large enough to upset the algos''
''upset algo's''
? - there are buyback rules that limit the amount of daily purchases that can be made.
Like one of my previous posts. My ISA account was showing a sell rate for VOD for 89p. This lasted for 10 mins. I guess I could have sold and bought in cheaper. But I’m in for a longer term.
I don’t even know if the above would be possible, although I am assuming I could do that.
Given they are “only” buying 10 mill a day. For £500M worth. It would take around 2 months? The buy backs will be continuous for a while and I suspect we’ll be moving more in the direction most of us want.
Given what happened today to me with the price. I think there is potential for the algorithms to be messed up.
I hope I can catch an overprice like when Porsche had more options of VW than the market thought.
Shan
''Given what happened today to me with the price''
let me be clear - you would NOT have been able to sell VOD at 89p today - maybe in the not too distant future.
Sga
As I was saying.....
Share prices move based on, amongst other things, supply and demand.
Buybacks can influence the number of shares available for purchase during a given day, therefore they can influence the SP on a daily basis.
So yes, buybacks can increase the share price during the buyback period and certainly on completion of a buyback.
Any other description is either obtuse, semantics or pedantry.
LTI - Well it was a fun thought while it lasted. Thanks for bursting my balloon haha.
SPs change min by min and anomalies do happen.
16% up over one month. Not too shabby, and many more gains to follow.
Maybe we will get to 80 by next Friday, and I will go for 80p please roofer, if this can make it to 90p I will have to have a think about selling half my shares off
GLA
Another 10mil bought back today, if you look at the times they bought you can see how it will support the sp over the next months .
Longtime investor -
The share buybacks are part of the market
They are live buys in the live market
Therefore, they will 100% have an effect on the share price and already have done so
Buys and sells make the market
The share buybacks are part of the buy side of the market, and thus, will have a positive effect.
Csb
''The share buybacks are part of the buy side of the market, and thus, will have a positive effect.''
An Algo used in a buyback will not make the running with increasing BIDs throughout the day - it will take some of the asking prices from sellers within rules and limits.
The market valuation of Vodafone has increased on the back of results and the markets view of future prospects and profitability and not from a so far handful of shares that have been purchased by a particular purchaser, that the market knew would happen weeks ago.
In 3 trading days a bit over 31 million shares so far have been bought back.
The sellers of shares and the market don't care whether it is X, Y, or Z who are taking shares off of their hands.
Total shares changing hands in those 3 days is most likely to have been over
600 million.
As bloo was saying. Any other description is either obtuse,semantics or pedantry. You can't argue with that?? Life is too short!
Dan & bloo, that's exactly what I was thinking, I think! not really sure but it doesn't really matter, as long as this keeps rising we will all be happy
Have a good weekend