This sums up much of my thinking - I hold a few and swing trade a few and even trade intraday sometimes ......

I think there is a lot of slack that management can cut out of the costs and would also anticipate sector consolidation ..... good value currently and have been holding their own in a falling market. Lot of US interest.

ains


Edited by Dominic White
(Filed: 08/02/2003)


Texting makes MmO2 sexy but it's also risky

More and more Britons are discovering the joys of textual intercourse. In the month of December, we fired off more than 50m mobile messages a day, and next Friday (that's Valentine's Day, folks, in case you'd forgotten) we'll send considerably more than that.



It emerged this week that the chief beneficiary of this craze is MmO2 . BT's former mobile phone division revealed that it gets a higher proportion of revenues from texting than any of the other three operators.

Revenue from messaging grew at its fastest rate ever in the last quarter, up 19pc, and data services as a proportion of MmO2 's revenue rose to 17.7pc from 15.6pc.

More good news was the rise in MmO2 's average revenues per customer. ARPUs, as nerdy analysts like to dub them, grew by 5pc to 243 in the UK and by 9pc in Germany to 212.

MmO2 now has 19.1m subscribers and in Britain it may be the smallest player, with 11.9m users, but it is growing faster than its rivals - testament to the success of its rebranding from BT Cellnet.

Only 114,000 of its 503,000 new UK subscribers were higher-spending contract customers, but MmO2 claims its pre-pay customers have started spending more than before.

Customer growth in Germany, which continues to be dominated by T-Mobile and Vodafone, is less impressive and the MmO2 share price ascribes little or no value to this part of the business.

That seems unfair, given the fact that the group has attracted higher-spending customers and has made a decent fist of turning the operation around. An eventual sale or merger is almost as inevitable as a disposal of the Dutch unit, which is losing customers.

MmO2 's larger rival Vodafone is trading on a free cashflow yield of 6pc, while at 49p this week, MmO2 's equivalent valuation remains negative. It might not have Vodafone's scale or profitability but there is room for upside. A risky buy.

Volumes are low this morning - markets a little undecided where to go - sector is down 1.1% as is the market ...... L2 is more than 2:1 in favour of buy orders but they mostly want to buy sub 50p.

A lot of short covering yesterday and msaybe an attemp to recover their losses today - OOM still holding it's own at evens


ains




Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (70.00%) 7 (77.28%) 612,889 50.55 - 51.47 180,224 (22.72%) 3 (30.00%)
5% (64.29%) 9 (58.14%) 742,889 50.43 - 51.82 534,945 (41.86%) 5 (35.71%)
10% (70.00%) 14 (65.28%) 1,011,923 49.91 - 51.83 538,245 (34.72%) 6 (30.00%)
15% (64.52%) 20 (86.44%) 3,628,257 48.44 - 51.99 569,365 (13.56%) 11 (35.48%)
50% (61.76%) 21 (72.50%) 3,653,257 48.42 - 54.94 1,385,699 (27.50%) 13 (38.24%)
100% (58.54%) 24 (71.77%) 3,673,377 48.35 - 55.32 1,444,695 (28.23%) 17 (41.46%)
all (57.14%) 24 (71.72%) 3,673,377 48.35 - 55.58 1,448,695 (28.28%) 18 (42.86%)

Seems to have swapped places with VOD now. What's your predictions for both today & L2 now?

I would like to see another day @ 50p+ ........ there is no new news at the moment - US futures are up (nas +8) - war news is mixed - US president is talking on box right ...... I think e will get a dip and a recovery



ains



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (42.86%) 12 (33.71%) 837,861 50.03 - 50.83 1,647,490 (66.29%) 16 (57.14%)
5% (50.00%) 17 (39.46%) 1,236,814 49.83 - 50.92 1,897,559 (60.54%) 17 (50.00%)
10% (56.82%) 25 (65.51%) 3,905,051 48.66 - 51.01 2,055,580 (34.49%) 19 (43.18%)
15% (55.77%) 29 (66.95%) 4,226,321 48.52 - 51.06 2,086,000 (33.05%) 23 (44.23%)
50% (53.57%) 30 (59.42%) 4,251,321 48.50 - 52.73 2,903,034 (40.58%) 26 (46.43%)
100% (52.38%) 33 (59.05%) 4,271,441 48.44 - 52.96 2,962,030 (40.95%) 30 (47.62%)
all (51.56%) 33 (59.02%) 4,271,441 48.44 - 53.09 2,966,030 (40.98%) 31 (48.44%

too high just sold 24,628

Any further comments? What's L2 looking like & is this going to fall any more?

Nas is about to open and still a few points up - sector is down just over 1% and the msarket about the same - volumes are very low @ 25 million though .... price is edging down - L2 is about evens ..... guess it's going to depend on the market .... ST traders may cash out - personally happy to ride it out


ains



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (50.00%) 14 (48.12%) 1,340,171 49.60 - 50.39 1,444,788 (51.88%) 14 (50.00%)
5% (43.24%) 16 (45.00%) 1,646,365 49.49 - 50.55 2,012,266 (55.00%) 21 (56.76%)
10% (47.92%) 23 (60.17%) 4,179,761 48.61 - 50.83 2,767,030 (39.83%) 25 (52.08%)
15% (48.28%) 28 (61.77%) 4,526,031 48.47 - 50.87 2,800,750 (38.23%) 30 (51.72%)
50% (45.90%) 28 (55.58%) 4,526,031 48.47 - 52.26 3,617,784 (44.42%) 33 (54.10%)
100% (45.59%) 31 (55.29%) 4,546,151 48.41 - 52.45 3,676,780 (44.71%) 37 (54.41%)
all (44.93%) 31 (55.26%) 4,546,151 48.41 - 52.55 3,680,780 (44.74%) 38 (55.07%)

I bought these last Autumn at 40p. AsI posted above I sold my holding of 24,628
for a respectable 50.3p, a reasonable 25% mark up, I missed the highs of 55 ish, but happy enough with 2.5k.
Watch out for 40p again soon I shall be , and back in again.

Seems to be catching up with VOD now. What's your predictions for both today & L2 now?

I think it's unlikely we will move above 50p today although it will be close - nas is down 2.5 points - sector is flat - volumes back to normal after yesterdays low ..... L2 is slightly in favour of buyers

I ago for just sub 50p on current news

ains


Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (46.15%) 12 (29.71%) 1,214,236 49.11 - 49.93 2,873,132 (70.29%) 14 (53.85%)
5% (58.82%) 20 (43.88%) 2,246,560 48.89 - 49.93 2,873,132 (56.12%) 14 (41.18%)
10% (67.44%) 29 (57.43%) 3,875,984 48.50 - 49.93 2,873,132 (42.57%) 14 (32.56%)
15% (65.31%) 32 (61.98%) 4,698,040 48.05 - 49.94 2,881,682 (38.02%) 17 (34.69%)
50% (58.18%) 32 (55.91%) 4,698,040 48.05 - 51.06 3,704,958 (44.09%) 23 (41.82%)
100% (56.45%) 35 (55.62%) 4,718,160 48.00 - 51.27 3,763,954 (44.38%) 27 (43.55%)
all (55.56%) 35 (55.60%) 4,718,160 48.00 - 51.37 3,767,954 (44.40%) 28 (44.44%

I really hope you spoke to soon Ains and that we close at a minimum of 51. L2? Thankyou :)

buys are creeping up


Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (72.22%) 13 (41.86%) 905,623 49.70 - 50.21 1,257,927 (58.14%) 5 (27.78%)
5% (81.48%) 22 (57.75%) 1,719,684 49.41 - 50.21 1,257,927 (42.25%) 5 (18.52%)
10% (83.33%) 35 (72.57%) 3,763,791 48.72 - 50.36 1,422,927 (27.43%) 7 (16.67%)
15% (70.91%) 39 (59.02%) 4,685,847 48.20 - 52.35 3,254,053 (40.98%) 16 (29.09%)
50% (69.64%) 39 (59.01%) 4,685,847 48.20 - 52.35 3,254,753 (40.99%) 17 (30.36%)
100% (66.67%) 42 (58.68%) 4,705,967 48.15 - 52.56 3,313,749 (41.32%) 21 (33.33%)
all (65.63%) 42 (58.65%) 4,705,967 48.15 - 52.68 3,317,749 (41.35%) 22 (34.38%)

Are the sells orders getting taken out and BUY order prices rising enabling this to go higher & break 51 resistance? Thankfully US is appreciating achievements in Iraq! DOW +85pts US↑1%.

they are trying to topple a big statue of SH right now in the middle of the city :-))

The intraday trading graph looks like we will soon move one way or other - probability northwards



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (57.89%) 11 (60.84%) 1,624,502 49.72 - 50.32 1,045,587 (39.16%) 8 (42.11%)
5% (67.86%) 19 (61.22%) 2,201,182 49.55 - 50.49 1,394,318 (38.78%) 9 (32.14%)
10% (77.78%) 35 (75.03%) 4,263,741 48.87 - 50.53 1,419,318 (24.97%) 10 (22.22%)
15% (67.24%) 39 (61.47%) 5,185,797 48.38 - 52.43 3,250,444 (38.53%) 19 (32.76%)
50% (66.10%) 39 (61.47%) 5,185,797 48.38 - 52.43 3,251,144 (38.53%) 20 (33.90%)
100% (63.64%) 42 (61.13%) 5,205,917 48.33 - 52.64 3,310,140 (38.87%) 24 (36.36%)
all (62.69%) 42 (61.10%) 5,205,917 48.33 - 52.76 3,314,140 (38.90%) 25 (37.31%)

The statue is down ...... buyers are relatively happy to come in and pay what the sellers want - more buyers than sellers

Massive 2.3M+ trades have just gone through on SELL side. Price withheld. The Statue is OFF. Strangely enough despite all traders watching footage afterwards US went lower! hence UK also.

2.3 and 2.42 mill done off sets - in theory sells

There was a 4.8 mill trade around midday - could be related

I wasn't far out - thought just sub 50p but pleased they are marginally over 50p ..... looks good for tomorrow all things being equal. 11 mill trade on the bell


ains

Yes a close @offer of 50.25 would have been better. However, I'm concerned at falling US mkt.

Cannot see any obvious news other than the Nokia thingy but we are well up @ 4% intraday - ahead of sector @ just 0.3% and the market which is down half a percent. NAS futures are up 4.5 points - volumes on OOM are averahe @ 22 million shares.

ains