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Chartwise IMO this is pretty significant resistant to break through.

Currently most Steel cannot be currently produced without coking coal.
It may well be that Evraz plans to move more into furnaces that do not require coal, for all the obvious reasons.
Market looks like it is fine with this. Quarterly results in a few days.

"By my calculation anything below 240 is a buying opportunity in an isa prior to divi date."
Exactly right. This practically values the SP to around 240p and should anchor it until the split.
Any price significantly below 239 is a buy IMO.

The big assumption here is that the market cap stays the same:
But EG.
£24000 invested at 240p means I have 10,000 old shares.
Special Dividend = £5000 (50p a share)
15:19 split means holding becomes 7894 shares.
Investment 24000 - 5000 = 19000 / 7894 = 240p

If the Market Cap goes down 15% (loss of the Asian Profits) keeping the same Yield. The the new SP could end up as 204p.

The profitability of Tesco is on the rise, so IMO they will be looking to increase the yield moving forward, keeping the SP greater than 240p after results and next dividend announcement.

By re-investing the dividend, the loss is cancelled out and long term, especially with profits and dividends as they currently stand, dividend re-investment makes this a solid buy, especially under 240.

JP Morgan forecast is good today as well.

JPMORGAN RAISES EVRAZ TO 'OVERWEIGHT' ('NEUTRAL') - TARGET 650 (510) PENCE

There could well be a rise going into this weeks TRADING UPDATE Q4, FY2020, 29 January 2021

Agree.
How exactly has the debt level increased in the last 6 months ?
We've just seen the highest gold prices for any 6 month period on record.

Compare this and the update 6 months ago.
From today Jan 2021 :
"Group net debt decreased by 47.3% to US$65.2 million relative to the six months ended 31 December 2019"

From July 2020:
"Group net debt decreased by 49% to USD62.5 million from USD123.7 million at December 2019."

https://www.lse.co.uk/rns/PAF/operational-update-for-the-year-ended-30-june-2020-3q6mt4wjko1wu62.html

The solar power plant, new tenement, hedges and exchange rates does not feel sufficient to explain this IMO.

What am I missing here ?

The biggest question coming in the results is if there will be a positive change in dividend.

IMO. there will not be any significant rise in the dividend, due to a hangover from Q2 2020, which for long term investors is great, as this means the company will still be undervalued to it's potential post pandemic and with QE inflated oil prices looming.

Q2 2020
"Reported loss for the quarter was $16.8 billion, compared with a profit of $1.8 billion for the same period a year earlier, including a net post-tax charge of $10.9 billion for non-operating items. This included $9.2 billion in post-tax non-cash impairments across the group largely arising from the revisions to its long-term price assumptions and $1.7 billion of post-tax non-cash exploration write-offs treated as non-operating items."

Hi all. Bee on watch for a while, Just looking through and wanted to ask the average placing price in today's terms for the recent issue of shares ?
It's not immediately obvious in the RNS list.
Looking at IG's chart which is adjusted for the consolation, I'm looking at an entry point in the low 1400s but this might be too optimistic.
Usually there is load of activity after a placing as then SP rises then falls to the placing price plus whatever added value there is. It's a usual story how retail investors could be sucked in on the story providing the liquidity for the placement buyers to make profit.

''Although market capital value will remain the same, values can fluctuate between main listed shares and ADRs."

True however the difference is never enough to worry about as any significant difference would be balanced out by the market as people sell one and buy the other in any effort to get ahead.

"Glaxo ADR has outperformed Glaxo by a country mile"

The ADR's are always the same value as the UK Stock when converted back to a GBP price. The only reason an ADR would outperform the LSE listed shared is because the dollar would weaken against the pound over the same period.

Only an irrelevance if you are spread betting.

Very True. I ended up with a few bad mining shares after that commodities boom in 2011/2012. I lost a load on Weatherly when it finally went bust, and currently have RMM and GAL, dogs festering red in long term drawer.

Wow. Well done for holding since 2011, even better if you had some dividend reinvestment.
Prompted me to look through my trade history. 10,222 shares for 500 quid in 2009 was my first PAF holding,. Not a good list to look at. To many 'If only' thoughts.

What's the difference between the Vodafone sale and this Tesco sale in allowing Vodafone to call it a Capital Return, and Tesco not being able to. If there is no legal difference, then it doesn't what HMRC's opinion is.

IMO, this will show a much better return when the special dividend is reinvested, as the drop in dividend will be compensated for with the extra holding, so increasing my yield above the market.

jaffjoon

It's a worthy question. have you emailed the company ? If you do, please share any answer back from investor relations or better if find the CEO's email or secretary with a search engine.

Will these be on the same day ?
For me it's makes no sense to consolidate as it's all about market cap and a large SP driver will always be dividend level, but perhaps for more casual investors the share price remaining the same is a good thing.

Just sharing some calculation scribbles.
When looking at these figures from their website.
https://www.tescoplc.com/investors/reports-results-and-presentations/financial-performance/five-year-record/
In the section 'Operating profit/(loss) before exceptional items and amortisation "
The Asia business contributes to 426/3005, about 14% of the profit.
The Share price is currently 240 with 51p being returned, so the SP will go down by 51p/240p, about 21%.

Unless the holding is in a pension or ISA, then given that this dividend will be taxed, then the amount a shareholder receives will also end up being broadly 14% of the share price.

All basically meaning the special dividend is broadly priced in.

That all said, if the dividend level goes down by the same 14%, to 7.9p, then an equivalent SP with today's yield of 3.8% equates to a share price of 208p, add the 51p special divi equals 259p, so IMO, a rise to 260p is reasonable.

Will the normal dividend rise over 9.15p this year. IMO it probably will due to Tesco having increased its revenues.

Unless you need to sell your shares, then this period of undervaluation is awesome.
Perfect to buy a position.

IMO all the trading that the institutions go in for provide us, as retail investors opportunities to buy and sell. Think how uninviting FTSE companies would be if they also showed a value with a 1 month average, with movements of tiny fractions of a percent a day.

I've recently put money into GSK, for the current yield level and I believe the company is undervalued to what it will be once we are out of the Covid-19 woods. I have a target of 1600p in mind to top slice or take back some of my stake.

Whether it's HF trading, shorting, funds adjusting their investment levels, I'm not really bothered. FTSE companies always reach a point of value, with times of oversold and overbought providing the investment and trading opportunities.

Cheers and GL

Oil price in GBP is currently the highest since March 2020.

https://www.exchangerates.org.uk/commodities/live-oil-prices/BRT-GBP.html

https://www.lme.com/Metals/Ferrous/HRC-N-America#tabIndex=2

Dividend soon, but will it be higher than the last ?

Booomm...
A great day all round, but months to go yet before we're out the Covid woods.
Iron ore up again, steel up and holding, coal mid 60's. All good.
(Now after saying that we'll see profit taking and a retrace to < 500)

Hi Volcano. IMO Ignore it, just people or institutions trading the gaps. 10 minute trends don't have a bearing on the weekly or daily, but small swings can well serve trading if that's your method.