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Across the 'pond' (where given GSK's dependence on US sales any steer in the SP must come from) this article gives an explanation for the company's SP fall after Q3 results. "Summary GlaxoSmithKline reported Q3 2017 results that were better than consensus� �but the market has been disappointed by the performance of some key growth drivers in the Pharmaceutical Division. Even if the stock has de-rated from 10x to 8.4 NTM EV/EBITDA [next years performance], I see too many uncertainties on the 2018 outlook." and "This analysis shows that even assuming an optimistic 12x EV/EBITDA valuation to recognize the value of the Vaccines and CHC franchises, the stock is undervalued by only 4%." https://seekingalpha.com/article/4116931-glaxosmithkline-q3-2017-bear-signals The commentators use of NTM instead of TTM says that he calls GSK a growth stock i.e. the high dividend is an aberration. However as recently as September! Bottom Line GlaxoSmithKline is an inspired choice for value investors, as it is hard to beat its incredible lineup of statistics on this front. Moreover, a strong industry rank (Top 21% out of more than 250 industries) further strengthens its growth potential. In fact, over the past six months, the industry has clearly outperformed the broader market, .. http://www.nasdaq.com/article/is-glaxosmithkline-plc-gsk-a-suitable-value-stock-cm848370 If they don't know, I don't know how the hell I should!

Up to when the USA awoke y'day nothing much happened. Then it went pear-shaped. The RNS showed that the US is much the biggest contributor to GSK income. This was reported yesterday: "Forcing Trump's Hand, Sanders and Dems Intro Bill to Lower 'Outrageous' Drug Prices Challenging President Donald Trump to make good on his professed desire to take on the pharmaceutical industry�which he has said is "getting away with murder"�Sen. Bernie Sanders (I-Vt.) joined several top congressional Democrats on Wednesday in introducing legislation that would tackle some of Big Pharma's "outrageous abuses" by permitting the Department of Health and Human Services to negotiate lower prices for prescription drugs under Medicare Part D." https://www.commondreams.org/news/2017/10/25/forcing-trumps-hand-sanders-and-dems-intro-bill-lower-outrageous-drug-prices This attempts to redress an act of 2003. An earlier attempt took place in 2007, unsuccessfully: http://www.nytimes.com/2007/04/18/washington/18cnd-medicare.html However it applies only to 'Medicare' and other agencies are already able to negotiate so maybe it's something of nothing.

Some commentators have suggested the fall is caused by GSK's interest in Pfizer and a divi cut. Reckitt Benckiser also interested and while their sp didn't fall yesterday, (it has since mid-year - see other chat). Citing Pfizer suggests clutching at straws to me. Am resigned to holding my new acquisition long term while hoping the divi stays in place.

"..from defined benefit transfers. .. which regulators worry is creating the potential for a new financial mis-selling crisis. .. assurers say the guidance they provide gives them comfort that advisers are giving good advice. �We provide a lot of ammunition to help advisers reach the right decision, so we don�t have the same concerns that we might do otherwise,� said Vince Smith-Hughes, head of pensions business development at Prudential." https://www.ft.com/content/859d625c-b8ae-11e7-9bfb-4a9c83ffa852?mhq5j=e5

AZN is in the same boat - both companies view Brexit with pessimism but AZN did not experience a 5% drop in a few hours. Herd selling still favo(u)rite.

Yesterday: "Should You Buy GlaxoSmithKline (GSK) Ahead of Earnings?" https://finance.yahoo.com/news/buy-glaxosmithkline-gsk-ahead-earnings-125212318.html "investors might want to consider this stock ahead of earnings."

With the SP over the last few years plus the RNS, what is the logic of this fall? "kick weak holders out, and then scoop up the blood off the floor " ..is as good as any but we will find out soon I expect.

Suppose we have the USA to thank for this? Nevertheless, I am pleased (and apprehensive) to get in at what looks a like a bargain price (1438). Maybe the hangover will kick in tomorrow?

It's been a very long time since I trusted the ONS and its statistics. So hearing that UK growth figures rose by 0.01% last month leaves me sceptical. Not so financial and economics experts or, more importantly the BoE MPC. Rate rise next month is the message. The urge to get the rates up is increasingly strong but I suspect the pathetical increase in growth rates is so into statistical 'error' territory that the ONS has been told what to do. Not such bad news if your money is in the right place tho'!

Honestly, they would be better off doing some research and buying into a company or fund that had real growth prospects and/or a decent dividend. SAYE is an outdated, devalued concept these days, the participants get no interest on their savings and if the shares are as stagnant as Tesco's then no return, just their money back. Furthermore, they have to stay with their employer. Since Tesco are on the same track as Sainsbury, that's not a given. Tesco: in the same basket as Marks and Spencer - they'll struggle on but the glory days ain't coming back.

Your over confident assertions simply tell me that you have failed to appreciate the change in culture that is under way regarding the UK shoppers' habits. Whilst it is true only 4 companies dominate the UK sector at present, their 'success' is very largely that they have been able to keep their heads above water amidst a rising tide of discount shoppers. Certainly the German companies have a long, long way to go to reach the size of their grown up competition but they do not carry the baggage hampering the big four. Given the economic climate (if we are honest and realistic) the name of the game is now narrow margins, which plays into the hands of the discounters to the chagrin of Tesco et al. The other issue is that the discounters are of course privately owned and us minnows in the investment pool have no chance to share in their success. We can only watch enviously as the big players enjoy the fruits of their success. Oh, and ramp Tesco as hard as we are able ;-)

Sure, I know a lot of people are heavily invested in Tesco. I feel for you. I was tempted at a time when they were �3 plus but very pleased I didn't - it was all a scam and the trial is ongoing. Here's an example of Tesco stupidity: http://www.bbc.co.uk/news/uk-england-berkshire-41600332 and how they manage their staff. I bet this guy's costing them in sales and bad publicity!

What has Aviva got to do with Tesco? You have followed me to see what I post elsewhere, I guess. I am flattered! I buy shares in many companies FYI. Investing is not a game for the emotionally involved. I have no loyalty to Aviva any more than I do to Tesco but I do value informed opinion but it seems you are blindly committed to defending Tesco. That's all I need to know about you, altho' one day you might surprise me by posting something of use.

..that's Tesco. Being huge and heavy and powerful they got used to just rolling along and crushing the opposition. They grew complacent and arrogant and rude. Then one day the ground opened up beneath it and Tesco discovered an awful truth: steamrollers aren't good at climbing out of holes. Take a look at Tesco abroad. They open a store far away from home, eastern Europe, the USA, wherever. Then they fill it with stuff they sell at home, pretty much for the same prices. Then they get all surprised when the natives don't flock to the door, especially if a discounter is not far away selling the stuff locals are accustomed to at prices they are accustomed to. Then they close the store, sack all the stack and maybe a token director. Beware the agile discounters, Tesco, they're out to get you.

One of the reasons for sticking with this share is indeed a decent dividend. However the dividend cover is well below the FTSE average. Is that expected to improve any time soon? Do we know what's going to happen after B*****?

..predicted for UK banks due to Brexit changes. https://timesofindia.indiatimes.com/business/international-business/bank-of-england-sees-brexit-risks-to-eu-bank-lending-in-uk-and-clearing/articleshow/60924677.cms "The EU has published a draft law that would require clearing of euro-denominated transactions in some cases to be shifted from London to cities in the bloc after Brexit, a proposal resisted by Britain." Mebbe HSBC can weather the storm better than others?

..and so is the dividend. This company isn't going to break out of some mythical trading range, it's as good as it's going to get folks. Are these rampers on prozac?

http://www.lse.co.uk/ShareNews.asp?shareprice=TSCO&code=jxfex54d&headline=Two_Tesco_finance_staff_quit_over_accounting_concerns_court_told Must say I am not convinced that Tesco has shrugged off this culture of dishonesty. My other concern is that to make anything on this share depends on growth and not any dividend. Given the prospect of a successful Brexit I would suggest Tesco will go on having discounters as its rivals and yet it apparently does not have any strategy to deal with that. Lewis is too busy at the pumps to steer the boat. So I see no prospect of a significant dividend or compensatory growth. As for the land bank, this is only an appreciating asset if property prices remain high. We are starting to see a decline in construction as the uncertainty over Brexit continues and we have a divided government with the prospect of Corbyn looming over it. There are many better shares than Tesco's a company which, given its share of the jobs market cannot be allowed to fail but has a mountain to climb in order to prosper.

".. as it agreed to sell its stake in Italian joint venture Avipop Assicurazioni to Banco BPM for �265m (�233m) in cash" Avipop?! http://www.lse.co.uk/sharecast-news-article.asp?ArticleCode=26506840&ArticleHeadline=London_close_Stocks_finish_week_on_front_foot_as_data_deluge_dents_pound "The British insurance giant has elected to sell its Italian subsidiary due to Banco BPM stating its intentions to not renew their distribution deal. According to a statement, Aviva has triggered a clause in the original agreement that allowed it to cash in its share if the distribution arrangement was discontinued." http://www.businessrevieweurope.eu/finance/1470/Aviva-sells-joint-stake-in-Avipop-to-Banco-BPM-for-265mn

The problem for Tesco is that the initiative has been taken from them ;where they led they are now obliged to play catch-up. Hoping the LADs will over reach themselves is to imagine they don't know what they are doing and yet they thrive in many other European countries where competition is at least as fierce as in the UK. What's more, both Aldi and Lidl are making a go of it in the USA. Tesco's 'Fresh and Easy' venture there was a dismal failure and Tesco performance in Ireland has also been notably inept for similar reasons. i.e they are **** poor at adapting.. Basically the Tesco supertanker is living on the momentum built up in the good years. Should it hit the rocks it'll be one heck of a spill but it could well be heading that way.