Member Info for RogueRiver

"If Fred actually typed the whole article out (as opposed to doing copy and paste) then what is truly impressive is that she managed to enter the text "10¼p" from her keyboard."

With a bit of luck, next time she'll be able to round it up to a nice easy figure, like 20p.

One thing we do know is that the macroeconomic outlook is somewhat better than it was a month ago when the bond sale failed/was pulled/was strategically withdrawn (choose your own description). The question is, have things improved sufficiently to get the sale over the line? Perhaps. But having the government stand as guarantor for the bonds would definitely get them sold - and at a reasonable rate of interest. Given recent news reports, clearly the idea is being actively considered. Given that we are likely to see a Nov general election, the current government will be very keen to garner votes in the NE of England, which may be the key to their actively backing the sale.

Roll on next week's Type 31 announcement. It seems the announcement will not now be stifled by general election purdah. Quite the opposite in fact. The current government will want to shout 'bigger Royal Navy!' from the rooftops.

PAAA
Thanks for the explanation. I did ask a couple of days ago if anyone knew the what the effect of TNCPs was on a SP - and no answer was forthcoming. I'm happy to have got an answer, even if I had to show my ignorance to get it.

Both trades are TNCPs (i.e. trades not contributing to price). In other words, they don't count.

At the moment, I think they could get the monopoly on UK logistics and still see no improvement in the SP. Rarely have I seen a SP doing so badly on such decent results.

Sclerotic SP. With the improving macroeconomic outlook (which is certainly better than in early Aug) one might have hoped for a slight improvement in the SP this week.

"I think rogueriver is the silent post reporter, JMO"

I wasn't - but I'll certainly give it a go.

Great results today. Hopefully the upward SP momentum will continue.

Hopefully the BB moderator will be along again tonight to wipe all the extraneous nonsense.

WTF is wrong with this share? It is up and down like a yo-yo, for no apparent reason.

...not to mention a repository of $hit jokes.

Hmm, the BB is at risk of turning into a political chatroom again. Can we please stick to the subject in hand - SM?

"I believe (also as what SM told the ft reporter), SM/JPM have planned to discuss the issue with their big II investors (immediately after the withdraw). The better way to get their support is to let them buy a part of the initial bonds (to cover the shortfall, i.e., to provide a backstop), as the success of the initial bonds would kick a good start along the JPM h.y.bond fundraising path."

I think this is very plausible, given that certain large IIs have recently increased their shareholdings.

taufour. Interesting - thank you for that.

A 'transaction not contributing to price' would seem to be self-explanatory, but what is its purpose? Is it simply a stock exchange accounting device, like an uncrossing trade, which has no wider significance to the market?

The article refers to US government treasury bonds. How is this relevant to high-yield corporate bonds (i.e. the type SM are hoping to sell)?

ffc

Thanks. I remember doing some research into TNCPs in the past, but can't remember their significance. I seem to recall they have the same effect on the SP as UT (i.e. None, as they are just a 'bookkeeping' exercise), but I could be wrong.

Steady
I bought on the Citi RNS and I'm almost 14% up - so a little knowledge can be a fortuitous thing.

dinger

They are showing as off-book trades on the London Stock Exchange site. I don't know if off-book trades which are reported after trading hours are included in daily volume tally, which is why I asked.

According to the LSE, they were all off-book trades - so genuine transactions. Could some (or all) have been late reported sells? Anyone?

We can disregard the UT, but still, those are some impressive buys.

When was the last £1M+ single buy for SM? It must have been pre-6 Aug.