Friday, February 09, 2007

City Share Price Movements (Week Ending 9.2.07)

This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.

Looking at the week just gone, there is not much to report. Just like last week there is still no update on the talks that may lead to a takeover or investment and still no real interest in the shares.

The shares did drift further towards the price prior to the AGM announcement on little real turnover of shares. There are some interesting points to note. On Monday (5 February) only 3,500 shares were traded (all sold) and the shares fell 3p (or just over 10%). On Tuesday (6 February) another 11,500 shares were traded (all sold) and the share price did not move. On Wednesday (7 February) no shares were traded but the share price went up 1p! What does this say? Well it probably just reconfirms how illiquid the market is and that you cannot read too much into the movements.

I did a comment on a messageboard that the 11,500 shares traded on Tuesday was probably an indication of something about to be announced. There are approximately 55,000,000 shares in issue until we see movement in the hundreds of thousands I would not get carried away.

Last week:-
Finishing price (mid): 26.5p
Bid price: 25p
Offer price: 28p

Share price movement for the week:-

05/2 3,500
06/2 11,500
07/2 0
08/2 1,719
09/2 10

Total volume for the week: 16,729

All information taken from Plus Markets Group


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