Member Info for chilting

Rather unexpectedly Black Rock actually increased their short on Wednesday from 1.39% to 1.62%

This is the fourth time that they have increased their short this month - it stood at 1.25% on May 5th - and it is now the highest it has been since March 2020.

Maybe they think the SP has risen too quickly after the results and that there will be an adjustment???

I admit to the fact that I favour renewables over oil but the principal reason for this is simple.

In the five years that I have invested in Enquest, more or less consistently the SP has fallen roughly by 60%

During the same period my investment in CWR - fuel cells - is up currently 605% and it has been up over 800%

In that time I feel that oil stocks have ceased to be a long term hold and are now simply a short term contrarian trade, which is why I am investing at the moment.

As for the renewables stock, I have top sliced so many times now that I have lost count and still expect the price to collapse at some stage but it still goes on, even though the market cap is ridiculously high.

Is it likely that the refinancing will be covered by issuing new bonds rather than an RBL?

Also still waiting after confirmation from Interactive Investor that it will be sent.

Grayling
It was also their other online offering M&S.com that did well and even the clothing business in finally turning round.
As I said earlier, they are a far stronger business now, and that bodes well for Ocado and more Ocado Retail CFC's.

Yes and court ruling came before markets closed on Wednesday afternoon.

The legal expert interviewed by Reuters thought it was significant for all oil companies, but lets just see what impact it has on Shell's share price tomorrow.

mrc
Its a a very big difference - the Dutch courts have given Shell a mandatory target to to reduce its planet warming carbon emissions by 45% by 2030 from 2019 levels.
Rulings like this stifle business Independence - this is not a matter for the courts - it should be elected Governments that are responsible for directing policy.

Its a very slippery slope if the courts dictate how any business operates in this way.

https://www.reuters.com/business/sustainable-business/dutch-court-orders-shell-set-tougher-climate-targets-2021-05-26/

The 4-5p was based on the SP in April and December 2019 when Brent was at around the same level as it is today.

Could have been shorting activity on a fairly slack day that caused the drop - also there was a large trade for £1m+ recorded after hours that could have been a short cashing out.

Looking back on the short tracker records it seems that Black Rock Investment Management have held their short, without a break, from February 2017 and have been active regularly since then.

They also held a short back in 2014 but it looks like that was closed, unless it was held without action for three years.

We can assume the short was opened in February 2017 when the SP was around 335p, the percentage has varied considerably since then so its not possible to work out their average, although we have to assume that it is comfortably higher than the current SP.

It will be interesting to see if they do close, if they do it will confirm that they expect more upside and a squeeze in their current profitable position.

Volume went up a bit to 995,171 - still the lowest since the half day on 31st December 2020.

Ammu is 100% correct - apart from the climbing bit and I did have to google "fb group owner".

As for Enquest Pelle, since AK got its act together the SP has followed Brent, I agree with other posters that shareholders are in limbo waiting for the equity offer and refinancing to be sorted. The lag with Brent now seems to be around 4-5P.

Volume just 958,674 - the lowest this year - unless there are a few late trades.

shaggers
Sorry, I didn't mean to mislead - just assume that eventually Ocado will sell the other 50%.

The point being that Ocado will want Ocado Retail to thrive and commission lots more CFC's and with M&S getting their act together it may be that selling them the other 50% will yield the best result.

A much better performance than I anticipated from the SP, even after seeing the results this morning.

The main thing that I hadn't taken into account is the change in sentiment, that could make a massive difference.

I think that any question marks regarding M&S can be put aside now.
They are moving ahead and match Ocado's drive to grow Ocado Retail, with plenty more CFC's in the pipeline.

In fact it could be that Ocado Group will now feel that the time is coming to sell the other 50% of Ocado Retail to M&S, rather than looking for another purchaser.

gkb
What form of storage?

Neil
Removing the barrier of closing uneconomic stores with long leases should dramatically speed up the closure plan for uneconomic stores and go a long way to reducing the number of full line stores from 254 to c180.