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Level 2

lse:gkp

#1

Nowt much happening, low Vols, hardly any upward movement :disappointed:
15,000 @ 196p on the Bid intact, 15,000 @ 200p on the Ask intact

Close . . . . 196.60
Open . . . . 197.00
High . . . . .199.00 . . . 08.17.32 . . AT
Low . . . . . 196.15 . . . 08.01.34 . . OT
MD Auc . . No Uncrossing Trade

Full
208,450----270,394
36—35

LSE Vols . . . . 81,881 . . 60 trades
AT trades . . . 39
OT trades . . . 21 . . . 11.59.00

Spread 197.8----198.8 . . . Mid 198.3


#2

In my opinion, the Buy Back plus the Buying for the City Entities has taken all the Liquidity out of the Market, so much so, that to be able to Buy any Shares to advance the Buy back program there are two choices.

On the Ask there is 287,636 Shares for sale but Buying from the Ask increases the SP.

Which leaves aggressively lowering the Spread to gain sell Liquidity, which is called in chart speak, walking the price down.

The House Brokers are under instructions to Buy Shares of an “Initial Amount under the Further Buyback Programme on its behalf on an irrevocable and non-discretionary basis”

“on an irrevocable and non-discretionary basis”
irrevocable . . . not possible to revoke
non-discretionary . . . the ability to take action or to buy without the permission of the client
(any thoughts are welcome)

Which way are the House Brokers going to go ??