Member Info for Raleigh

It is job creation, and the govt. has decided to do that predominantly through construction, that will put food on the table ( to use the terms set for me )

We shall see more of this govt. as a client expenditure plans being brought forward ( not reliant on private discretionary spend ) over future years, in support of the green agenda and job creation.
https://www.bbc.co.uk/news/uk-55299511

They choose to. They have sufficient to persue their lettings agencies. They must think it is undervalued, and are acting in the best interests of shareholders.

For the record

https://www.bbc.co.uk/news/uk-politics-55294860

I have never painted a 'rosey' picture in terms of businesses exposure to delays at ports. I have said previously that I hope the supply chains hold up for Sig, in the same way we all hope they do for UK business. Ireland and the rest of the EU will be similarly concerned.
This is not an overnight issue, and govt. has been preparing for it - a logistical issue of the movement of goods both ways.I do not know, but commentators think there will be perhaps 3 months of congestion ( not necessarily supplier backlog ) at ports. That may be optimistic, or not. And it is evident that the biggest headache will be for the 'just in time' manufacturers.
One would think the various components of the huge construction industry have taken such action as they can to diminish or even overcome the disruption at ports - but in any event a position will be reached when they have supplies in stock, and are working to reducing lead times on further availability beyond what is immediately required. It is not beyond the wit of the industry.
If you recall, there was ( though it was the saying rather than the doing ) similar reaction amongst investors on the surprise Brexit referendum result, before recovery. There is usually over-reaction to these things. The answer probably lies somewhere in the middle of the extremes, and the ports issues will translate into a way of working to new timescales for business, and I believe that any disruption from any unpreparedness will be temporary. In fact, it seems that increased traffic at ports is as a result of business stocking up.
Sigs ( and their competitors and customers ) exposure to materials delays is not excessive ( previous post on what they have said) Pure logistics and forward planning, nothing more. And if customers have been preparing and stocking up during the second half, as one would reasonably expect from responsible people, it should reflect well in the trading update in January, along with such beneficial changes as the CD and R/Francis set up have made. The update is the important issue for Sig, not the fact of a free trade deal or not.
On a personal level, you may be presuming too much. But I did buy Friday. I think in due course 30p will be OK. Like many, I buy and sell.

Strange you should think of it as an emotive, binary choice.
And a bad day for electricians, Monday.
Let us hope that these thick builder CEOs are on the ball, realise they have to build houses to satisfy burgeoning order books, and have got their materials orders in early. So they don't go bankrupt like.
And that Govt. has half a clue that without materials, them thinking they are going to be building their way out of the Covid problem ( they been on the tele, all over, talking about it - schools, hospitals, and all the rest of it ) is a non-starter. It may have passed them by. How embarrassing. And we do not want to be living in tents.
But you never know, between the lot of them they may have figured something out.

7th Greggs for Reading.
https://www.readingchronicle.co.uk/news/18937881.reading-set-get-new-greggs-former-carphone-warehouse/

https://www.nwemail.co.uk/news/barrow/18938760.nn/

https://ukdefencejournal.org.uk/bae-awarded-full-rate-production-of-amphibious-combat-vehicle/

https://nationalinterest.org/blog/buzz/uk-could-buy-more-f-35-fighter-jets-after-all-174385

It has been beaten down for different reasons. The indications seem that we shall look to next year on a financial basis, with perhaps that being reflected on the back of a strong order book when they next report.
Looking ahead, assuming no further sustained COVID-19 lockdowns, we are confident of delivering growth in profits and margins next year. Although we are mindful of the macro-economic uncertainties ahead, Costain is in a strong position with secured long-term programmes and a positive market backdrop, in particular the UK Government's drive to progress investment in infrastructure so that it is better, greener and faster in support of the nation's economic recovery."

Here is an old article which sets the tone, whether you like the Guardian or not.
https://www.theguardian.com/business/2018/jul/18/why-brexit-is-no-big-deal-for-bae-systems

"The group has limited UK-EU trading and the majority of the UK workforce are UK nationals so any resulting near-term Brexit impacts across the business are likely to be modest."

I am pleased to see the buy-back can be seen to be actually happening in the open market. In my experience, it is not always the case.

I bought some today, 30.16. Better opportunity may present on Monday.

"Whilst the majority of the Group’s profits are generated by its mainland European businesses which are to a large extent not expected to be affected by Brexit, a significant proportion is derived from SIG Distribution, SIG Exteriors and SIG Ireland. The UK businesses will potentially face challenges from the UK's exit from the EU whilst SIG Ireland will potentially face challenges as a result of its significant level of imports from the UK and its distribution activities covering the whole island of Ireland (including Northern Ireland within the UK).
Heightened borders – with the nature of the UK/EU borders yet to be confirmed there is a risk that goods supplied from Europe (directly or indirectly) may have longer lead times or become unavailable immediately after the exit. The majority of materials sold in the UK are purchased in-country but some raw materials are sourced by suppliers from the EU. Discussions with suppliers have been held to identify potential risk areas and plans have been implemented to ensure stock levels can be increased prior to the exit date to enable the business to continue to meet demand. ?Whilst the Irish business is considerably smaller than those in the UK, considerable steps have been taken to ensure continuity of supply, product compliance with EU regulations and tariff pass through to customers. The business has maintained continued dialogue with its customers to help them understand its approach to maintaining good customer service and value. "?

You were right. But I ignore JPM in the larger scheme of things. They can be relied upon to fiddle around, as you know.
On Brexit. There will be pain for UK plc, and a measure for Sig, which has arguably alreadylost up to 15% on account of it. Yet if one considers that Sig is primarily trading within the EU and within the UK, as opposed to primarily with the EU, there may be a more optimistic perspective to be adopted. We know there is a continuing market to sell into, or CD and R would not have invested. It has been a busy second half, and we know that the market will benefit from govt incentives, in the UK and the EU.
Management concern is with the availability of materials, and not overwhelmingly with tariffs ( they will pass them on )where they apply.
Read line by line it is possible to get a sense of Sig exposure to Brexit - important and very unhelpful, but perhaps not as great as one might think, and even less so if they have actually taken the 'considerable steps ' to secure stock to meet demand.
Or what are builders to do?

I do not normally comment on prices, certainly no predictions now or for the future. But it is intriguing. Between the buying and selling, people are trying to find a price below which it will not go on a no free trade agreement. It is just a view based on what I see, but one might think investors have had ample time to gather their thoughts, and so far there just might be a concensus view that the IKO and some of the rest of our buy in price of 30p will hold. And obviously up from there, or wherever we finish up. With a 'Sunday decision' being the last 'forecast', investors are otherwise leaving it late to exit. There is the alternative that they do not wish to risk being out in the event of a last minute agreement, or some sort of fudge. We shall see what today's close brings.
I agree with your logistics view. We are in the same boat as all suppliers, of various sectors, along with the tariff business, which will largely be passed on to the end users. And say two thirds of the business is in the EU anyway, so maybe swings and roundabouts on that one.Joe public will have to take Brexit in its stride, and we come back, inevitably, to the early stages of the turnaround situation for Sig, with the trading update coming on the back of what seems to have been a busy second half for the industry. And building will not stop.

https://www.businesswire.com/news/home/20201210005589/en/BAE-Systems-Helps-Ireland-Lead-the-Way-With-First-Plug-In-Electric-Hybrid-Propulsion-Systems-on-Public-Buses

At least both sides, in their mutual best interests, will be doing what they can to minimise disruption.
https://ec.europa.eu/commission/presscorner/detail/en/ip_20_2368