Yes one would expect that taking shares off market would increase the price of the remaining shares but......
The total buy back is $264M out of a total market cap of $16.8B which is roughly 1.5%. So the effect is minor and is overwhelmed by daily sentiment about natural disasters, profits, management, interest rates in the US etc etc. I see the buy back as putting a higher floor under the SP. GLTAH
Can't get My Head around it, page-4
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Last
$16.96 |
Change
-0.350(2.02%) |
Mkt cap ! $25.48B | |||
| Open | High | Low | Value | Volume |
| $17.38 | $17.38 | $16.91 | $38.82M | 2.279M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 75 | $16.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.97 | 14045 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| QBE (ASX) Chart |