If this going to £1.507 May 2020 14:28
It has a funny way of showing it!! On days like today, in reference to the UK market following the DOW, the SP should be flying. It is not and that can only mean it has " run out of steam."
It is hardly surprising, as Business will remain depressed for a long while after lockdown and the sector as a whole will suffer as a result of the global slowdown that is to follow.
It must be appreciated, emerging economies are going to be hit hardest, but they are the ones that have helped boost the sector in the past. Another factor will be oil exporting nations will not be throwing money around like they use to, given the low oil price.
All this will impact on the SP, I feel it will hit £1.50 longer term, but the first recovery point will be close to the level it plunged to in the first place, 72p.
I therefore reiterate we are heading to 50p, other companies like Senior which fell to 45p will revisit this low too.