Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
Nice. Cassandra's curves are looking better every day, Double D's yesterday and now legs 11 today !!
Can't be bad.
Could be interesting :-
https://thenegotiator.co.uk/foxtons-reveals-branch-makeover-with-digital-appeal/
'Housing market downturn pushes UK estate agents to consolidate'
Its nothing new which has already been commented on here previously but worth a read nevertheless. Its on the paid access platform but you can read the link once or print the article it to file.
https://www.ft.com/content/3b165342-e418-4426-8863-67000f6de965
Double digits, my goodness it's been a while.
Still holding and checking in from time to time with Cassandra's curves looking good !!
And good to see that some of the familiar names are still holding.
😉
And another :-
https://propertyindustryeye.com/leaders-romans-group-agrees-major-deal-to-buy-31-branch-estate-agency-giant/
Gone quiet over the last two weeks or so, think again Dexters aren't hanging around that's for sure :-
https://propertyindustryeye.com/eye-exclusive-dexters-set-to-acquire-major-london-rival/
Some lively action in the last hour, over 40 trades executed after just a handful again this morning .
Good to see that the US boys are up to their games again, should be a fun afternoon all !!!!
Quelle surprise, another US institution topping up !
#matesrates
Final count before the first reported trade of 5 shares this morning :-
42,551,265 shares or just over 14% of the company
Lets see the market take down the stock again today (not !)
:)
I very much doubt it, we had a similar instance at the end of last month with 14.7m shares traded and 5.8m shares traded all before 08:00am at the end of last month on two separate days and which I posted, then came the RNS holdings announcement the following day.
Now take a look, we're up to 41m shares now !
https://uk.finance.yahoo.com/quote/FOXT.L?p=FOXT.L&.tsrc=fin-srch
Well, just had a look on the Yahoo business website this morning and share volume reported in Foxtons .........36,682,125 .
Yes, that's over 12% of the company !!
Here is the cut and pasted screen shot :-
Foxtons Group plc (FOXT.L)
LSE - LSE Delayed price. Currency in GBp (0.01 GBP)
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40.00+0.95 (+2.43%)
At close: 13 November 05:15PM GMT
Summary
Chart
Conversations
Statistics
Historical data
Profile
Financials
Analysis
Options
Holders
Sustainability
1D5D1M6MYTD1Y5YMaxFull screen
Previous close 39.05
Open 0.00
Bid 0.00 x 0
Ask 0.00 x 0
Day's range 0.00 - 0.00
52-week range
Volume 36,682,125
Avg. volume 347,880
Market cap 120.518M
Beta (5Y monthly) 1.60
PE ratio (TTM) 13.33
EPS (TTM) 0.03
Earnings date N/A
Forward dividend & yield 0.01 (2.25%)
Ex-dividend date 03 Aug 2023
1y target est N/A
And here is the link to see it in full before 08:00am today or when the first trade in Foxtons is reported this morning :-
https://uk.finance.yahoo.com/quote/FOXT.L?p=FOXT.L&.tsrc=fin-srch
Well, just 22,000 shares traded up to 12.00pm today and then 2 lots of 500,000 shares followed by some order book shenanigans by the MMs in the afternoon to keep the price back under 40p and then some lumpy trades just published after hours.
Tomorrow could be just as interesting !
Hardly a surprise considering the lengths the MMs are going through to keep a lid on these !!
Another earnings enhancing acquisition announced this morning and the Kings speech later as a prelude to the Chancellors Autumn statement later this month and which will be predominantly based on housing will tick further boxes for Foxtons.
Nice.
Well if someone has come knocking at £1.25, I suggest they do an about turn and come back with something more realistic !
Ok, £1.25 is a nice opening gambit but arguably Foxtons are performing better now than since the days when Jon Hunt was at the helm and where sales was the key driver of the business, my goodness how things have changed in just the last couple of years.
I doubt if Converium Capital would be too happy either, especially after this letter last year (in case anyone hasn't seen it) and have they added another 2% to their Foxton holdings since.
https://www.businesswire.com/news/home/20220316005214/en/Converium-Capital-Sends-Letter-to-Foxtons-Group-Board-of-Directors
As predicted.
Nice.
I mentioned yesterday of 14,782,440 shares traded in Foxtons before the open and again today the volume so far is 5.4m shares, so that's just over 20m shares traded or 6.7% of the company.
Someone out there is obviously trying to keep attention away from prying eyes and is conducting trading in Foxtons shares away from the main exchanges.
If anyone knows where to get this information, please do by all means post it here but I will make enquiries.
The stock was held at 37p yesterday around 900,000 shares were sold to keep a lid of 37p on the order book, expect more of the same today.
Well, the total volume before this morning's trades was..........
14,782,440
Which is roughly 5% of the company give or take !!
Bring on the RNS holding !!
Ok, we saw a little bit of volume on Q3 day last week and just over a million shares traded on Friday officially, not a lot going on with Gittins playing down the numbers again, or so we thought ?
Now take a look what's being reported on the Yahoo business website, a bit more than a million shares traded on Friday me thinks :-
https://uk.finance.yahoo.com/quote/FOXT.L?p=FOXT.L&.tsrc=fin-srch
Whilst my copy and paste comment a few days ago referring to the latest Q3 numbers was delivered 'tongue-in-cheek' I wasn't expecting it to be taken literally but then again its what we've come to expect from Gittins & Co. for the last 9 months or so.
As I commented in July, the numbers are being played down once again although to be fair to the Foxtons' management and in point 7 of the interim statement it does state the following.....
.......' Consensus expectations for Foxtons Group plc, being the average of forecasts for the year ending 31 December 2023 provided by analysts covering the Group, is revenue of £141.5m and adjusted operating profit of £11.8m'.
It should be noted that there are only 3 analysts supposedly covering the stock and they've all just tinkered with last years full set of numbers, again a complete waste of our time. These are not management delivered numbers !
What should be noted however and again no mention of this in the statement but Q3 turnover figure was the best performance by the company since its inauguration to the market back in 2013 when the following year its Q3 turnover figure was £112.7m and in 2015 Q3 reported £114.5m (9 months) !!
Similarly with lettings recording its best ever 9 months at £81.3m and even financial services coming in at £6.6m for the year to date beats the figure of £5.9m reported for Q3 back in 2015.
Market always concentrates on sales but we are now in a 5% interest rate environment and not a 0-1% interest arena, how many home owners can afford a 0-1% mortgage on a £500,000 property when earning £40,000 a year ??? Yes, quite a lot !!
Now how many of them will have to re-mortgage when their current deal expires in a year or two and now have to finance a £500,000 mortgage at 5-6% ??? How many of them can afford a £20,000- £30,000 increase in their mortgage costs ?? Er, not many !!
And this will be the norm for quite some time yet.
Going forward, whilst the US Hedge funds and Banks are still looking to pick up stock, maybe another Friday tree-shake tomorrow perhaps, Foxtons can now look forward to the Chancellor's Autumn Statement in a few weeks time.
Its election year next year, so expect the Chancellor to pull out all the stops, especially for first time buyers, the removal of Stamp Duty, Help-to-Buy incentives, Build-to-rent homes, help with legal fees (just add it on to the principal) and who knows maybe a cut in Corporation Tax Duties.
Yes, the Q3 statement was extremely dull to put it mildly (by design ?) but keep buying on those MM manipulated dips and tree-shakes !!!