Ann: Daily share buy-back notice - Appendix 3E, page-9

That's good theory but I wonder why the trading volume has increased but the price hasn't moved in any dramatic way. If the market sentiment has turned then traders would be beating the price up more than it has. Alternative theory: (well actually more a feeling, actually) there is one or more players doing a careful accumulation. I've noticed that the number of shares traded each day is now consistently over the million mark and this has going on for a wee while now; but never quite enough demand to move the price up more than a penny or two. I suspect that supply/demand is too finely balanced to be a coincidence.

On the other hand - I'm probably reading the chicken entrails from the wrong angle and my theory will be proven to hold as much water as a colander with bonus extra holes.