Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Wow. Did someone nod off at their desk for most of the day? The one thing it does show is that rise yesterday was completely driven by the market though as opposed to by tsco buying it's own shares. Fair play on that front FB.
I don't disagree, but at today's SP they're spending £1bn to take ~350m shares off the table over the course of a full year. I understand this will leave less slices of the pie on the market and pay dividends on but it just feels like a long winded way of achieving a SP gain.
Eccles - I think because it's viewed as a steady, stable defensive share that isn't as prone to fluctuations in it's market (ie miners, oilies) or regulatory issues (tobacco, gambling etc).
That being said it baffles me as to why they don't just plough this money into divs, 7bn shares for a company with the mcap of Tesco isn't exactly in confetti territory. That would drive the SP up dramatically.
I'm still convinced there's placing shares still being sold into this. Next to no volume after a significant placing last year barring a couple of big days, only had some decent churn of shares over the last few weeks and even that has had the odd off day like yesterday. Again volume decent again today but just won't budge.. who is selling into it in large enough quantities to suppress the SP?
If spread betting or shorting is your bag, then fair enough, whatever works if it makes money. The bit I don't like is the misinformation or even blatant lies told by some to try and further their cause. Not calling any particular person or view out there, just a general observation.