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tried yesterday and this morning to place a buy order on PMO however my Bank is not taking purchase orders (I could sell). Speaking to them they say they have temporarily suspended their trading in PMO as trades keep failing and they cannot guarantee to fulfil their obligations. I know other contributors experienced the same issue yesterday. Can anyone explain to me why this would happen and is there anything peculiar about PMO at the moment to prompt this situation. Thanks
Couldn't agree more. Sold majority of my PMO this morning at 33.3p and intend to reduce risk going forward. May go back in if price falls back to lower 20's and hope for 20% profit etc etc. I can't see demand being restored to anything like previous levels for at least a year. Air and Sea transport is done for 2020 and even when demand starts picking up, Saudi and Russia together with OPEC will quietly increase production hence prolonged period of low oil prices. And all that is before any allowance is made for the vast amounts of stored oil around the world.
Meant to say rumours are for 10m!
Meant to say rumours are for 10m!
Rumours that cuts will total 20m barrels. Given that current production circa 100m but demand around 65m, this will make no difference. I see price of pmo dropping again next week giving a good opportunity to buy back in.
Have some sympathy with Russia. The US benefits from production cuts through higher prices while sharing none of the downsides of lower output. At the same time protecting their higher cost shale producers. Will be very interesting what Trump does as he no doubt still has significant leverage over Saudi in respect of military support and he will not want to see the Kingdom's ability to purchase arms from the US decline as their economy tanks. Maybe Trump could threaten to release tapes of Khasshogi murder which he will have been given by Turkey.
In the event of an RI what is the position re shares that have been shorted by ARCM. In theory there are more shares out there than have been issued. Brokers and banks have lent shares to ARCM which they do not own. The buyers of these shares will have a right to subscribe to the RI yet the original owners of the shares will also have that right (after all they have not given those brokers authority to sell their shares). In effect surely there is double counting until ARCM buy shares in the open market and return them to the brokers. Under the terms of the share loan would ARCM ,in a very short period have to close out the short at whatever price?
Can somebody clarify for me please. I notice on the share trade link that a number of large trades are reported as having been completed after close of trading. Including one valued at £2m. Is this just a quirk or will it have an impact upon opening price on Monday? Why are there always trades showing as having completed after 4.30? Thanks
The article states that all creditors except for ARCM support the proposal to extend the repayment date. Am puzzled why therefore principal creditors are selling off their debt. Surely this would give ARCM the opportunity to pick up the debt, increase their percentage of lending and therefore block the refinance. Am I missing something?
T