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But once the buyback is complete, there will be one less buyer in the market, will this not lead to a drop in share price ? Surely the buyback is the reason behind the increased share price. On another note, the Bank of England raises interest rates twelve times in twelve months to fight rising inflation, the inflation rate drops twenty per cent today to 8.7 per cent and the FTSE falls off a cliff. How is the average investor supposed to understand this ?
As ever the forecasters of the past few days have been proven incorrect. You really need to learn lessons from trying to predict the movement of a share price, it really is a mugs game. Four days ago I’d have been happy with 157 pence !!!
I must disagree with you about Tesla Fordm. I have owned one of the first fifty cars into the UK from 2014. Ninety six thousand miles later our car still drives like a new vehicle, I would not buy another combustion engined car, they are so much more expensive to own and run.
Marshall Wace continue to “buy”, their short position is now reduced to 0.44 per cent. This would suggest to me that price movement to the downside is likely to be minimal. Most of the large brokers are now forecasting positively, it is therefore somewhat frustrating and disappointing to see the share price trapped in this narrow band.
After a sleepless night on Thursday night I was extremely relieved to read such a strong first quarter trading statement which included all that we could hope for, nett debt reduction, a marginal profit and increased revenue. I am however mystified by the continuance of a stuttering share price. Marshall Wace took it upon themselves to reduce their short position by 0.4 per cent having increased it only days ago by 0.1 per cent. The share price now sits marginally above all the moving average values except the year to date price which is currently at 153.012 pence. The theory is that the share price should increase significantly from here on and I fully expected to see 160 pence yesterday so a closing price of 150 pence is disappointing. The company have worked miracles to squeeze a profit before tax given the nigh on £20b of borrowings, I would guess that this aspect is still the reason behind the sluggish share price. Still, if the market can support a price of over 200 pence in June 21, then there is hope for more of the same in June 23.
Robbren58, I cannot see the point in posting a twenty month old negative article from the Mail On Sunday. The company fundamentals have improved significantly since this article was written. I’m fairly certain that our share price will decline tomorrow, I am hoping however that we can stay in the 140’s, recent history would suggest that this is unlikely. Conclusion - we should all have sold our IAG shares on the 3rd February !!
Unfortunately Sundezena, the price is fairly certain to drop tomorrow regardless of the content of the trading statement, the question is how far will it drop before it finds a new support level. We are hopelessly under the control of the American markets (and their ongoing banking crisis) despite the improving forecast for the British economy.
I knew it ! Your posts could only have been written by computer, not a grammatical or spelling error in sight. Too good for a mere human being. Another cracking day in prospect tomorrow, the FTSE 100 is down a further fifty points since the close at 16.30 today. We are being stymied by the wretched American economy. We’re doomed !!
Back down below the five, twenty, fifty and one hundred day moving averages. The two hundred day moving average is 132.8, let’s hope we don’t drop below this figure. Last year on first quarter day the price dropped into the 120’s before closing at 131.44. On this day last year the price was in virtually the same range 149-142. This really is shaping up to mirror the movements of one year ago. Ironically Lufthansa, the reason for the price drop today is now down less than IAG ! We do know that IAG have already forecast a loss of £220m for the first quarter but a strike at Heathrow and a pilot strike at Iberia is in all probability going to increase that loss further thus driving our share price further down ! Not looking good from a shareholders viewpoint.
So much for the bullish hammer. Just goes to show what a nonsense charts and patterns really are. Just another day where the market continued to nibble away at the value of our investments. That hopeless feeling just won’t go away. Anyone hoping for a significant share price rise following the release of results next month only needs to look back to what happened in May 22. I’m sorry to sound so gloomy but quite frankly I can’t find any reason to be cheerful.