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Royal Mail Share Price Recovers After Disappointing Tuesday

Royal Mail Share Price Recovers After Disappointing Tuesday

Royal Mail Plc shares (RMG) have been enjoying a generally positive week and Wednesday was no exception. After opening at 437.20p the price shot up to a high of 445.96p before falling slightly and eventually closing the day at 443.30p, up 1.56% for the day but still down 0.27% for the week.

However, only one broker, Berenberg, has a ‘Buy’ position on Royal Mail shares. Credit Suisse’s position is ‘Underperform’, JP Morgan Cazenove has them as ‘Overweight’ while Cantor Fitzgerald is recommending ‘Sell’.

Investors also seem to be split down the middle. On Wednesday 50.11% of Royal Mail shares that were traded were sold while 49.89% were bought. It is likely investors are feeling slightly nervous as the past seven days of trading have seen numerous ups and downs for the share with no clear direction prevailing.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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