The big event for the MT basket of transport shares – the MT Tracker – is that Royal Mail will be joining this watching brief from tomorrow. The BBC is already reporting this morning that shares will trade at the top of the price range (around 330p) giving it a value of £1.7bn. As Royal Mail’s value, and market cap, will skew the data heavily, much in the way Rentokil did before the management buy-out at CityLink back in April […]
Industrial action at Royal Mail appears to be off the table after managers were offered an improved pay deal.
The tale of Stobart’s ever falling share price. Two weeks ago, in the wake of Avril Palmer-Baunack’s unceremonious demotion, this column wrote about the woes of backing the Stobart horse. Even the gloss of a three-year deal with Tesco couldn’t reverse it’s fortunes (and given Tesco’s current performance there can’t be that much gloss). However the machinations of the Stobart board have continued to hurt its performance on the stock market.
Royal Mail is reviewing the need for its mail distribution centre in Hatfield, Hertfordshire, but does not expect the decision to affect the vehicle operating centre at the same site.