Monday 12 March 2018

Galliford Try moving up today.

Galliford Try @ 955.50p, +75.50p (+8.58%), as at 11:36 Monday 12 March.

Not really sure what is going on here, but from the off, the price has shot up this morning. It looks to have peaked at 968.5p as at 9:26, before falling back and pushing on again to a lower peak of 959.5p at 11:26.
Falling again as I write though but could be showing a narrowing trading range on the day between 938 and 968.

No news to qualify such a sudden movement though, given that the shares have had time to take a breather following the results.
Strange to be in the dark, and it is something I have noticed since starting to be more active again. That being that actually relevant news and reporting is dragging so appears much later.
My usual source of information Digital Look is in the midst of a transformation to Web Financial Group and a new series of web page designs and menus.
In some ways this might be a good thing as the old site has become so advert cluttered that I have been unable to use my preferred browser, Chrome, as, combined with my disappointingly slow Fibre Broadband from Talk Talk, it just won't load my watchlists and portfolios. Instead I have had to find lesser used browsers like Edge to use. Or perhaps it is Windows 10 that is somehow affecting things in order to promote Edge.

But, disappointingly, the transformation also seems to be running hand in hand with a delay in newsflow too.

Anyway back to the question in hand, the increase in Galliford Try?
No idea.
Hopefully real and something fundamental (I've even checked the Galliford Try Media page for announcements), but as yet I don't know why.
Could it be a buying surge ahead of the 15 March ex. dividend date? At 28p per share that represents just 2.9% yield to a 952p share price so, its a good payout, but surely not reason enough for a circa 8% increase.

And, it doesn't seem to be a generic construction sector movement as the likes of Berkeley, Barratt etc. are down, as is Balfour Beatty, albeit a minor change.

The increase could also be an aberration or error at the trading desk though.

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