Market Report: Royal Mail will be bought by a wide range of tracker funds
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It is not what business secretary Vince Cable will want to hear: When Royal Mail gets the official sign-off today to enter the FTSE 100, calls that it was sold off too cheaply will re-emerge.
Royal Mail listed in October and yesterday closed at 596.5p (down 0.5p) – up 80 per cent on its 330p float price. Once it officially enters the blue-chip index it will automatically be bought by a wide range of tracker funds – pushing its price up further
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RM will be bought by a wide range of tracker Funds
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RM will be bought by a wide range of tracker Funds
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