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The 'Markets' are interesting right now, to say the least. After watching them for years being concerned with the longer economic outlook, they are now very reactive to short term events/data. It is now highly likely multiple vaccines will be available pre xmas. The Russians stated this week they may start using one on health workers from Monday 3rd August. So, if the vaccinations start this year and the world is vaccinated next year, I think CV19 will quickly become history and air traffic will rebound sooner rather than later. Furthermore, the knowledge being gained by these global 140 research businesses will practically mean the next generation vaccines will be pretty much on the shelf. Bottom line; although things look bad now, I believe economies will bounce back faster than expected. Once vaccinations start SP's will start to climb fast based on future normality in spite of the economic difficulties experienced so far.

So this morning JP Morgan give a price target of 125 for RR. A 50% fall from where we are today. What's surprises me is that it was already 155 and they saw the need to cut it further. Looking at this, and other downgrades, it does make me wonder that the markets are being 'played' right now for short term gain and a pretty deep downturn/recession is around the corner.

SFO are killing this business. This is the stuff of tin pot dictatorships when the state can run any company into the ground simply by dragging an investigation. Come on SFO, nearly 3 years now and no charges.....wrap it up.

Looking at EZJ financial fundamentals, this Covid-19 virus would have to run over a couple of years before you would consider EZJ an Administration case. Airlines can quickly adjust operating costs if this continues. With £1.3bn Cash and a current interest cover of 12 it is manageable. The NAV is over £6 so a takeover at a price at £6+ would come first. My view on EZJ is thatif it falls to £8.5 or less again, it is a huge buying opportunity. If Covid-19 is still an issue at £8.5 then wait and you'll get it cheaper. In short, this looks a good 2-3 Bagger if it continues to fall. And, once Covid-19 is in the past, watch it shoot up so fast.

A key reason for SFO is to tackle white collar crime. However, not only must there be some degree of evidence to officially open a case against a company; one would think that if the SFO has not levelled any charges within, say, 12 months then it should be a situation of case closed. This running cases for an average of 4.5 years is ridiculous. Plays right into Shorters hands.

That's not the only good news this morning for FRES. See RNS. Juanicipio mine to start production earlier than expected. FRES could really start rising steeply.

Spot on. In Jan '16 PMO was 19p. By Jan '17 it was 95p (+400%)
TLW will do the same. Just stop stressing oneself looking at it everyday.

Since March '19 Ray Kelvin has seen about £250m wiped off the value of his holding. I cannot imagine he is going to sit on his hands and watch his lifetime achievement and wealth steadily trickle away after today. First, as was the case in Superdry, I would bet he could win a shareholder vote to come back as CEO. Or, secondly, I am pretty sure he could get the financial backing at this SP and the support of a majority of shareholders to take the Company private. This business is not going to stay in limbo like this and slowly die.

Added to this, interesting article in Sunday Guardian (8/12) business section 'speculating' as to whether now is the time for the original owner to take the business private. Coupled with the Shorts closing could be meaningful. We will see if there is a corresponding bounce Monday morning.

The WG shares now look a real bargain don't they, lower than they have ever been for a long time. And, Fundamentals aside, it does have the habit of some serious rebounds. The thing that is putting me off buying more is that there are no serious Short position closures. Does that mean they think this can still seriously fall some more, £3, £2 …. £1. They must have made a lot from this but still are not getting out. Is there a general view out there that we are headed into a World recession. Output falls, oil falls ,oil service contracts fall, WG and PFC fall some more. Are we in for long term lows.

I do sound gloomy …… but it is early. Interested in some thoughts.

Could be right …. MM's moving it up and down to skim profits. 8% quite a movement though. Biggest single buy today 8629 shares. No 'Shorters' Buying their way out then.

I think Jeffries April rating is a tad optimistic at 370. Since last week, since we've had these small rises up to 400, not a single 'short player' has closed i.e. bought back their shares. Just have a think about that. Even when the shares got to 370, no one closed. There are over 65 million WG shares Shorted ….. with no one closing. Why do you think that is??? Maybe what we are seeing right now is a slow motion Dead Cat bounce. Fundamentals are not good and there may soon be a cash call. 400 ……. could soon see 200.

I have to conclude from personal experience and the news that IAG is digging one massive hole for itself. What came through on the news, again last night, was how appalling IAG customer service is. I have recently experienced this and it is as bad as customers were saying. Nothing improves, it is utter contempt. Secondly, they are really now offering a budget service for premium prices; something the pilots are also aggrieved about. This might bring high profits in the short term, as it has, but it will crash. It always does for such businesses. And, when it crashes it will crash big. You might argue that the PE is already low, it can go lower. I think in the future we may talk about the days when the IAG share price was as high as 433. Asking ourselves, do we think it is a good investment and will we see 433 ever again.

Personally, I would not buy the shares. I don't care about the broker forecasts; they are seldom right. They are not a good long term investment until the management get their act together.

I was chatting to a friend who tells me he has been waiting for a ticket refund now for several weeks even though he was initially told it would take one week. It got us thinking about the up coming Interim Results on the 2nd August, us both being share holders. I know it sounds suspicious, but are the results going to be close to the bone and hence IAG is hanging onto any and all cash; postponing refunds, supplier payments, pilot pay awards, etc. Given other results in the airline sector, IAG results are hardly likely to be spectacular. And we all know that some Boards are part bonused on the Share Price. Anyway, conclusion is, is this episode a sign of desperation by IAG or just pretty poor customer service?

Agree fully with your second paragraph although I think the 400p will be breached after the divi payment. I would be surprised at a SP fall below a PE 0f 3; which would be at about 386p. This is way off the 5 year average PE of 8. I've watched IAG (BA) for the last 30 years and it is a very cyclical share price. Frankly, if it goes anywhere near 386p then I might buy substantially more. This would average me down to just above 410p. Not one of the worst 'Divi Traps' to be in.

I regularly fly BA. And if going reasonably long distance, I like to begin my journey at T5 on Sunday morning. I have never seen T5 busier than last Sunday am. There was no particular reason for this e.g. school hols. I think the IAG operation is going from strength to strength and the new 'orders' reflect that. I suspect many of these planes will be 'additional' and not replacements. Other smaller airlines failing can only add to IAG passenger numbers. Furthermore, knowing BA and Luft as I do, I would not compare them as like for like operations. Personally, I find Luft and their operations at Frankfurt a real pain and will avoid that airport at any opportunity. But we shall see in August as to whether Lufts performance is their problem or as HSBC state, it is a sector issue.

The HSBC price target of 400p is hardly a revelation. We all know that given the current SP once the divi is paid then the price will fall to c400p. Given current politics it may even fall slightly further. However, given the current PE ratio and Divi it would be absurd for it to sustainably fall much further. The real longer term issue for a riskier fall is not Brexit but a US induced Gulf War with Iran. The impact of this on the price of oil and routes could be significant and is the only thing that would make me consider getting out quickly. But, once the fall is complete; back in even faster!! 'Airlines' always bounce back.

In case you didn't notice; there has been a £2.62m buy at 16.39pm (Not the UT). Is this the bottom; Shorters Closing?

One further point. I did consider getting back into SBRY as the SP is at a 32 year low. Not a chance; it's at a low for a reason; it is yesterdays supermarket.

I was a share holder in SBRY until very recently. My visit to a large store today confirmed without doubt I was right to get out. The service level was appalling, the company is clearly trying to 'Save its Way to Success'. When a company has this as a strategy then it is on it's way out. The number one function of any retailer is to take the customers money. When you start taking your time with that and pissing the customer off, then your on a downer. And all this when there is a brand new large Lidl just opened across the road. Not only would I say SBRY's acquisition days are over; I'd bet they will be a target ….. maybe from the likes of Aldi or Lidl.