Anybody aware of what's driving the share price movement today?
Can see anything for the rise, maybe a share tip, but quite a few shares are up strongly today.
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TheGob
8 comments
TheGob
Can't find anything at all. It was the largest riser on the FTSE All Share today! I may enquire with the company unless there is a takeover announcement tomorrow am on RNS :-)
TheGob
Just received this response from the company:
"We have not published an RNS and no analyst has updated forecast. We believe this is market-driven with Meta results and FED announcements."
timarr
Not sure what is happening, even ITV (LON:ITV) is up nearly 7%.
Even? It's horribly cheap, albeit there are broad concerns about their streaming plans, and competition from streamers. But ITV Studios and their back catalogue are worth way more than the existing market cap. But no doubt the rise here and in Future (LON:FUTR) is driven by a read across from the Meta Platforms (NSQ:META) results (I hold all three, happy days).
The market move up is as irrational as many of the moves down, triggered by an expectation that the Fed is done, or nearly done, with interest rate rises and that inflation is moderating. Meanwhile, even given the issues here, many UK stocks are extremely cheap by any comparison with international valuations, so it doesn't take much positivity to see markets bounce. And, of course, many automated trading systems will be triggered by the rises.
As to whether the rise will stick - nobody knows, no point in worrying about it. Although personally I hope it doesn't, I much prefer buying cheap.
timarr
Rusty2
Tim, thanks, you are no doubt correct, I don't hold Meta Platforms (NSQ:META), so did not see their results. US markets are certainly bouncing, my US folio is up 18% this year. Carnival (LON:CCL) was also up 13%, no read across to Saga (LON:SAGA).
BoE increased base rate to 4% but inflation may have peaked, so it may not increase them again.
Will it last, probably not, but markets are difficult to predict. I thought retail shares would do poorly this year but most have bounced off lows.
WarrantStar
Timarr
Thank you for your very credible analysis. Please keep posting your opinion and I will keep reading it!
DanTE
Anyone got thoughts on Jon Steinberg as the new CEO? I can see that he is quite experienced in the industry but I'm not entirely sure how his experience at BuzzFeed, DailyMail, and Cheddar News (finance streaming service for millennials) actually translates into the more specialized customer base that Future currently holds (TechRadar, Tom's Guide, GoCompare et al)
