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JB, with the current economic background only getting worse, inflation forecast to reach extraordinary highs(18%?!), base rates, mortgages raised as a counter, tax cutting Truss probably new leader, and RMG's own peculiar set of circumstances, I can't see Blackrock missing an opportunity like this.
It's difficult to predict how low this will go, but when there appears to be no end in sight re. bad news, the shorts will see their chance. This could go on for years, with Putin holding the key to energy prices and our economies. Energy prices can only normalise if Putin agrees to pump more gas, and for that he will insist on a large chunk of Ukraine. After the horrors committed by Putin in Ukraine, it will be a difficult deal to make.
I agree, Blackrock will be back.

18-Aug-22 09:32:27 272.00 4,000,000 Unknown* 271.30 271.70 11m O

Significant trade. Any ideas what/who this could be?

Angersharkz, I agree about the drop off and return to work, people have got mortgages, children, energy bills, a strike now is financial suicide, but here we are. Not sure what the position is for the returnees, since if they stop striking would that mean workers have agreed to the implementation of managements conditions? which would mean ST gets what he wants.

Anger, I think management and CWU are both committed to a strike, which could go on, a day a week here and there, for a good while, with posties making up some of their lost wages with overtime. CWU votes have been overwhelming, showing a real depth of commitment, and Management see this as an existential moment for the business. I don't see any common ground between them. I think ST will be inflexible on the changes to work practices deemed necessary, but may have some latitude on the wage increase. Deja vu, it's all going a bit Rico Back, whilst on the continent GLS continue to sail serenely on making money so quietly you'd hardly know they were there..... I wonder when we will be hearing from them...

Just looked at CWU facebook page. News of no negotiations this week was released an hour ago, which corresponds with the brief leap in the SP. Confirms that some buyers see this as good news, and a taste of what markets reaction will be if GLS is separated from RM.

SP has fallen back quicker than it climbed. Odd. JB, when was the news released regarding CEO's refusal of talks? Could be that some may see a refusal by CEO to engage in talks as a sign that GLS separation is moving forward?

*Any , not Ant!

SP spiked 5p in last 10 minutes. Any news re negotiations?

Anger, had a look at the us markets after I posted and saw the rise. Still have the feeling the shorts are going to make a move. Strike action could also do it. As you note, this is RM so anything could happen.

Today: The Federal Reserve said it would increase its key rate by 0.75 percentage points, targeting a range of 2.25% to 2.5%.
Shorts increased again today, also today US interest rate up .75%. CWU strike action lurking in background.
Could tomorrow's ex-div drop be the trigger for the shorts?

Uncle doug, do you mean the CWU strike dates at BT?

Angersharkz, brave of stockopedia to even try to make a forecast. No one knows what the cost of a strike or the wage settlement is going to be.

Angersharkz, latest ONS retail stats released today:
https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/june2022

Non-store(mostly online, but also markets) retailing sales VOLUMES fell by 3.7% in June 2022, down from a fall of 0.3% in May 2022. Decline continues.

Angersharkz, maybe if the Public knew that half the profits quoted by the CWU were not earned by Royal Mail part of the group support may be diluted. Narrative needs to change.

This is bbc on the CWU strike ballot:
https://www.bbc.co.uk/news/business-62219565
Dave ward uses the profits of the whole group, including GLS, as the reason RMG can give a 'dignified' pay rise. Seems like he is prepared to live off the backs of GLS workers. After todays announcements he may be realising that isn't an option.

Dynamo. so are you saying that RMG can't be anymore efficient?

This is bad.RM losing £1m per day, demand falling. Fortunately GLs profit almost cancels this loss, and equally importantly taking steps to separate GLS and RM so there can be no cross subsidisation.
9-11% payrise, laughable. This does seem to be moving towards an existential crisis for RM as Thomson has been saying recently. Interesting to hear CWU's ideas on how to fund their pay rise.

Correction Angersharkz: BT s.p. tumbled on 15th JULY when strike dates were announced,
(Not not 15th June as I originally posted)

Angersharkz, I think the BT s.p. tumbled on 15th June when strike dates were announced, which was a few weeks after they voted for industrial action.

I see what you mean Isle. In that case I agree, this is when we find out that some things are more important than money.