February 18, 2005

City rumours

From today's Scotsman:

RUMOURS of a takeover of Sainsbury swept through London dealing rooms again yesterday, helping to prop up the wider market. The supermarket’s shares rose 2.7 per cent to 302p as traders considered the possibility of a management-led buyout at 325p-350p per share. Trading was heavy with 27.7 million shares changing hands, more than double the 12.6 million average daily volumes this year.

It must be hard running a company that's out of favour with the market. There you are trying to figure out what's wrong - which is probably not amenable to a simple solution. And you likely constantly distracted by the stock market, which seems to thrive on rumour and the lust for a quick fix.

Posted by Johnnie Moore on February 18, 2005 at 09:32 AM in Financial | Permalink | Comments (0) | TrackBack