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Royal Mail Share Price Continues to Rise on Thursday

Royal Mail Share Price Continues to Rise on Thursday

It was another good day for Royal Mail Plc shares (RMG) on Thursday. After they opened at 441.10p they rose throughout the day and hit a high of 458.80p just after midday. In the end they closed the day slightly lower at 452.30p up 2.03% for the day. The shares are now up 1.81% for the week and 12.06% for the month.

Nonetheless, at present the only broker with a ‘Buy’ position on the shares is Berenberg. JP Morgan Cazenove has reiterated its ‘Overweight’ position, Credit Suisse has labelled the shares as ‘Underperform’ and Cantor Fitzgerald is still recommending ‘Sell’.

Investors don’t seem too confident in regards to the shares either. On Thursday 59.29% of Royal Mail shares traded were sold while 40.71% were bought. However, if the current trend continues then this is likely to change.

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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