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 […]
Royal Mail began conditional trading on the London Stock Exchange this morning (11 October), with shares rising in value by over a third just an hour and a half into its listing.
When Motortransport.co.uk spoke to Wincanton chief executive Eric Born last week he claimed there was little he could do about the share price of the company. Sadly, this week has proven that statement to be true.
Royal Mail’s profit warning has been met with shock by analysts who have warned that the group faces relegation from the FTSE 100 if it cannot tackle its productivity problem.