Royal Mail (RMG) Share Price London Stock Exchange October 30

Wednesday saw Royal Mail’s (RMG) share price continue in its downwards trend. Having opened at 456p the price fell throughout the day and closed at 437.70p, down 3.44% for the day. The share price is now at its lowest level for a number of days; however, it is still up 1.03% for the week and 13.78% for the month.

Shares in Royal Mail made steady gains throughout most of October having opened the month down at around 390p they reached a peak of 457.80p this time last week.

As a result, brokers appear to be split as to the appropriate action to take; Cantor Fitzgerald recommends selling while Berenberg recommends buying. Other brokers have labelled the shares as underperforming and overweight. This division can be seen in the day’s trade with 53.74% of the Royal Mail shares traded on Wednesday being bought and 46.26% being sold.