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
QBE Price at posting:
$12.80 Sentiment: None Disclosure: Held
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