Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Today was quite a high-volume day, with a couple of large Off-Book trades.
Time -----currency - price- - - volume - - -tradeValue - type
14:43:43 GBX - - - - - 96.09 - - 47667853 - 45804039.95 - Off-Book
14:43:43 GBX - - - - - 96.09 - - 47667853 - 45804039.95 - Off-Book
Not sure if one of the above are a duplicate, but today's volume so far is 196,105,460. Apart from results day, the daily volumes are around 45 to 55 million shares traded, On Exchange, with some days above that up to about 69 million. When I downloaded the data at 17:00, there were 122,575,601 Off Book trades and 45,848,809 on Exchange trades.
Buys or sells though?
"Buys or sells though?"
Bid/Ask price doesn't apply to Off Book Trades, they're Off Exchange.
I'm afraid I don't understand that fleccy. Somebody must have either bought or sold surely?
"What Is Bid and Ask?
The term "bid and ask" (also known as "bid and offer") refers to a two-way price quotation that indicates the best potential price at which a security can be sold and bought at a given point in time. The bid price represents the maximum price that a buyer is willing to pay for a share of stock or other security. The ask price represents the minimum price that a seller is willing to take for that same security. A trade or transaction occurs when a buyer in the market is willing to pay the best offer available—or is willing to sell at the highest bid.
The difference between bid and ask prices, or the spread, is a key indicator of the liquidity of the asset. In general, the smaller the spread, the better the liquidity."
https://www.investopedia.com/terms/b/bid-and-ask.asp
"A bid-ask spread is the amount by which the ask price exceeds the bid price for an asset in the market. The bid-ask spread is essentially the difference between the highest price that a buyer is willing to pay for an asset and the lowest price that a seller is willing to accept.
An individual looking to sell will receive the bid price while one looking to buy will pay the ask price."
https://www.investopedia.com/terms/b/bid-askspread.asp
My understanding is that Off Book trades are negotiated trades and can be at any price, but usually based on the Exchange price at the time of the trade, rather than the Bid Ask spread prices.
" Bid/Ask price doesn't apply to Off Book Trades, they're Off Exchange."
yes...the buyer and seller get together without having to match one with the other as on L2 ...so they don't appear on L2 ...in order to not create a sudden possible misunderstood distortion of the market price ...but they do have to be reported to the market exchange, and the possible manipulation could be if they decide to report it somewhat later than the time of the agreed trade
They can often be merely Fund managers moving shares between different funds holding that company , or between fund managers in general .....a bigger variation in price comes when it is more of a fire sale or a buyer will only take on a larger amount with a discount to the market price
today looks like whoever reported that trade did it twice by accident, not sure that the first attempt had gone through
Vodafone Is an MBA Case Study of Messed-Up M&A
Here are key takeaways if you treat miscalculations as object lessons on what to avoid in the future.
Chris Hughes
1:18 PM IST, 22 Nov 2022
4:41 PM IST, 22 Nov 2022
A pedestrian checks his smartphone as he passes the entrance to a Vodafone Group Plc retail store in London, U.K., on Friday, July 22, 2016. Vodafone reported first-quarter service revenue that beat analysts estimates amid gradual improvements in its European mobile-phone businesses and growth in developing markets.
A pedestrian checks his smartphone as he passes the entrance to a Vodafone Group Plc retail store in London, U.K., on Friday, July 22, 2016. Vodafone reported first-quarter service revenue that beat analysts estimates amid gradual improvements in its European mobile-phone businesses and growth in developing markets.
ADVERTISEMENT
-->
(Bloomberg Opinion) -- There’s hidden value in Vodafone Group Plc, the sprawling telecoms company whose market capitalization has shed more than $50 billion in nearly five years. It offers business students a lesson in the good, the bad and ugly of mergers and acquisitions. The only thing missing is the ultimate deal: a break-up bid.
ADVERTISEMENT
Things aren’t going well. The shares recently slid beneath the psychological 100 pence level. The competition has been whipping Vodafone in Germany, its main market. Management is struggling to convince investors that high debt from dealmaking will come under control. Activist Cevian Capital AB gave up on the stock earlier this year, but telecoms billionaire Xavier Niel has taken its place as a potential agitator.
ADVERTISEMENT
Rewind to 2013 and it’s hard to believe Vodafone could have got into such a pickle. Then-Chief Executive Officer Vittorio Colao agreed to an exit from its joint venture with Verizon Communications Inc. for $130 billion. Most of the payment received — mainly a mix of cash and Verizon shares — was funneled to shareholders. That was a great deal, making a hiatus in years of empire building. Sadly, the sequels in this M&A saga have been a letdown.
ADVERTISEMENT
Vodafone added cable infrastructure to its portfolio pursuing a so-called convergence strategy to sell phone, internet and pay-television services. Having offered $11 billion to take control of Kabel Deutschland Holding AG in Germany, it then gobbled up Spain’s Grupo Corporativo ONO SA for $10 billion. The Spanish market later became viciously competitive.
In 2018 came the $22 billion acquisition of assets from rival Liberty Global Plc. This filled gaps in Vodafone’s German coverage. Less than a week after the announcement, Nick Read, then chief financial officer, was announced as Colao’s successor and given the mammoth integration job. True, Colao had been boss nearly 10 years, but the succession was hardly ideal. Vodafone shares have badly trailed European peers ever since.
To be fair, the idea of becoming a bundled telecoms provider made sens
davef24 Why are you just re printing stuff that we can all just read for our self. What is YOUR point?
Come on fleccy. At least try & talk in a way that most on here understand. I can't make a lot of sense out of your latest posts, & I suspect neither you, or anybody else on here can. Talking in tongues?
"At least try & talk in a way that most on here understand. I can't make a lot of sense out of your latest posts, & I suspect neither you, or anybody else on here can. Talking in tongues?"
That's why I supplied the links, so that people can read it for themselves.
More Big Off Book trades today:
tradeTime - currency - price - volume - tradeValue - - - type
15:43:27 - - - GBX - - - - - 95 - 81594487 - 77514762.65 - Off-Book
15:42:55 - - - GBX - - - - - 95 - 81594487 - 77514762.65- Off-Book
15:28:30 - - - GBX - - - - - 95 - 42195020 - 40085269 - - - Off-Book
15:39:07 - - - GBX - - - - - 95 - 42195020 - 40085269 - - - Off-Book
15:27:38 - - - GBX- - - - 0.95 - 42195020 - 400852.69 - - - Off-Book
Every time the price tried to break above 95p, this afternoon, it was knocked down, yet big trades were going through Off Book.
Today's volume was 416,342,503. Less than 84 Million off half a Billion shares traded:
On Exchange volume 53,001,158
Off Book volume 364,298,656