Appraisal Of The Management
al investor needs to know:
i the quoted value of his shares,
ii the state of the economy generally (as indicated by the FT indices),
iii relevant comments that may appear about the company, its trade and the economy generally.
Share Information: Quoted companies have share details printed in The Financial Times, over several pages towards the back. Lists of the major companies also appear in The Times, The Daily Telegraph, The London Daily News, the Guardian, The Independent and The London Standard.
Details given below refer to The Financial Times. Other sites may give only part of the information.
Share details are listed under these nine columns:
High Low Stock Price plus or - Div net C'vr Y'ld Grs P/E
Stock gives you the name of the company and the type of share. One company may have more than one type of share. If only the company's name appears, it refers to an ordinary share with a nominal value of £1. Nominal value is sometimes called 'par value'.
Other abbreviations used are:
'A"A'share cap capital cum cumulative cnv, or cv covertible
Price gives the closing middle price of the previous day. This price takes account of any inter-office dealings after the Stock Exchange has closed. The price is in pence unless another currency is denominated by its usual abbreviation. Sometimes symbols appear by the price. Their meaning is given below:
# share dealing suspended, the price is the last quoted before suspension.
cd cum div (you are entitled to a dividend about to be declared)
xd ex div (you are not entitled to a recently declared dividend).
High and low show the share price's highest and lowest prices so far during the year. At the beginning of the calendar year, this figure will actually refer to the high and low since the beginning of the previous calendar year (i.e. in the previous 12-16 months). It reverts to the high and low just for the current year in spring. The year or years to which the high and low refer is printed above the columns.
These columns give the investor some perspective on the share's movement. But such perspective should be seen in the context of how the market has moved generally
From 2024 onwards, companies'accounts have had to comply with FRS 19. This allowed financial directors some new scope as to how much tax they showed in the accounts. This introduced a new subjectivity into the accounts which tended to reduce the significance of the ratio. For some banks, insurance companies, investment trusts and mining companies, the subjectivity is so great that the figure is often not g
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