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I thought the results were decent. A profit of £7 million, compared to a loss last year, increase in new business and yet the shares suffer a 10% decline? In 2018 the dividend will be reduced to bolster investment. What's wrong with that? I've been a holder for five years. It pays a decent dividend. It's not a share to trade.
Where did you get the idea that the Chinese economy is run by Fawlty Tower characters? The media and governments manipulate news flow and instigate conflict We have this arrogance, particularly in the UK, that we are superior in intellect and abilities. It's just not the case.
So it's down today because of a threatened downgrade. BHP is down because it has been. Logical! What use are these agencies when the commodity slump has been going on for over a year. Has the bottom of the commodity cycle has been reached? I think this is a very good buying price.
Phoenix and other insurers should take legal action against the FCA to recoup loses incurred after Friday's events. It's inconceivable that Wheatley can continue as all trust in him has gone. He should have been sacked for incompetence with immediate effect. Then again, look at the mess of the Royal Mail floatation. Who pays for the cock up? Why no one, of course. I notice that both the Telegraph and FT have been awfully quiet regarding the above events. Do they harbor an anti insurers sentiment? It seems so. I expect Phoenix's share price will recover in the coming weeks.
It is a good entry point but I would have divided my ISA allowance over a trading range. The Grand National is usually good for bookies together with the World Cup. Of course, if England win it...
Why didn't you wait until it goes ex div?
Miningman: I don't think so. Rio is in a stronger position regarding production. Last year sentiment was poor. Miners unwanted . Look at the share price of Glenxstrata. Remember how it fell like a stone? Glen came out with good figures yesterday and it's share price has been resilient. Both companies pay a decent dividend now. I am surprised that Rio hasn't held 350. Today it went ex div, but I expect it will return to that level by the end of March.