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Donkey Starmer hasn't won the election. Promising to bring economic growth is not the same of actually bringing economic growth. Besides about half of the revenue comes from the US (no Starmer there to save us), which is badly battered by inflation, Future has lost significant business in the US recently.
There is room for further weakness based on forward PE (lots of uncertainty there), but on current PE is cheap.
Alessandro....'just over reaction to a broker re-rating'....oh and there was me getting excited for a minute.
Has anyone seen Starmer's victory speech yet? No, well neither have I but one doesn't need to be Einstein to forsee something along the lines of we'll bring economic growth after 14 years of 'misrule'. Advertising sector likely an early beneficiary and a factor driving 'volatility'. Shorts closing, share buy back, struggling to see your £8 scenario but no doubt you'll be able to justify.
Smokey J thanks for the info.
Buybacks will go well into the Autumn then. Fingers crossed drop in interest rates to come and that will mean more traffic on Go Compare for better mortgages and finance deals. Short term looking very good
They're approx £10mill into it
From half year results:
" £35.9m was returned to shareholders during the period with £32.0m through the completed £45m share buyback programme launched in August 2023 (HY 2023: £nil) and dividends of £3.9m (HY 2023: £4.1m). The Group plans a further return of up to £45m to shareholders through a share buyback programme commencing shortly. Once the Share Buyback Programme commences, the Board will keep it under review and continue to assess it against its capital allocation priorities."
It has gapped up today it is above all the 10 20 50 200 moving day averages good volume in relation to the amount of share out there. No reason why this should drop to £8 in the near future. Pressure is on for available shares.
When the buy back is complete , might be a different story.
Does anyone know off the top of their heads when the buyback will complete?
Donkeyeeyore yes volatility, just over reaction to a broker re-rating. Jeffries forecast a modest 25% upside from yesterday closing price. Definitely a market over reaction. I never listen to brokers anyway. They never get one right.
Future PLC Target Raised to 1,280p From 635p by Jefferies
Upgrade and buybacks and lack of shares. Hold for gold
Qube down to 0.55%. They want out now . They will be looking everywhere to buy back
Jefferies rating upgrade?
Is this morning's 10% rise down to 'volatility ' as well Alessandro?
Donkeyeeyore the 5% rise was just volatility. I think the momentum is temporarily lost. Maybe for the next leg up we need to wait until the next TU (provided there are positive news). I can foresee to be back in the region of £8 per share in the coming weeks (unless anything exceptional happens, as always).
This seems to ebb and flow with the ftse most days. Not to forget that it had a cracking couple of months not long ago so some profit taking.
Qube reducing, Buy backs, Who keeps selling?????
Alessandro, you claim to be able to foresee sp weakness, how then do you explain the 5% rise today?
Some profit taking may be done by now, but I would not be surprised to see more weakness for a few weeks. Unless there is any unexpected RNS with some unexpected news (whether positive or negative)
I think that it is time for you guys to get your day trading hats on.
Good inflation figures in the UK and suddenly things look a lot rosier.
Is this where we see the 20% rise in a day again?
Am I just an eternal optimist?
Only the day will tell.
Struggling to get it up (but why should you care?)
Has Future run out of steam? Can the latest TU underpin further SP appreciation or we must wait for the next trading update for another run up?
Agree. As long as he is holding/buying then so am I. He has a significant ling term holding in his recovery fund.
Slater keeps topping up and he's no fool
Thanks for the input.
I see it like a pin ball machine with the bottom bumper about to bounce the ball back up from 1050.
Very low spread at the moment could attract the US market back after lunch today.
All speculative on my part so don't bet your shirt on it, but have a gut feeling ......... like you say, it might just be GAS ;-)
I’d wait for 700… GAS … really?!
Well, I had my finger on the trigger today at 1050 but had to leave this for now. I'd rather watch how things unfold, besides which the swings have been big in the past. As much as 20% in a day in either direction. You tell me which way. My money is on up (or it would have been!).
Very positive review from them this morning. Also mentioning possible sale of GC which they value @750million...
Still room to run...
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