Where will this lead to?

I'm also short on WOS, in unchartered water at the moment but with the value of Sterling slipping further and further the companies debt is expanding adding to the other forces. If 150 is taken out quickly then will hold for 125, I think 25 point increments are probally wise, anyone else got feelings on stop loss etc.?

where have you been for the last few days!?
now appreciably stronger than it was a week ago against both and $

Indeed but I don't see this lasting, I think we'll soon be seeing it go the other way.

Cynic - I think the pound is down @2.5% against the dollar over the past week?

perhaps my timescale is wrong, but was certainly down to about $1.35 (now $1.41) and 1.03 (now 1.11) within the very very recent past

on the basis that there may be quite a sharp bounce, i decided to bank what finished as a pretty modest profit, but a profit nevertheless

bears have been giving WOS a real pasting over the last few days, but the chickens have come home to roost (very Cantona!)

out at 1215 with a modest profit

to make a very bad pun, WOS (which i bought back into yesterday morning) are roofing it yet again ....... such has been the staggering rise and pace thereof, i strongly suspect a very heavy bear squeeze, albeit that the outlook is certainly more rosy than it was

bugger - well sort of anyway ...... took my tasty profit prematurely at 1454 and sp moving smartly ahead again

I am seeing a sp that is like a ski-slope.
- However, in "shares" they say:-
".....Hornsby stumped up 50,400 on 16 March for 25,000 shares at 202p ten days after the company announced half-year results in which it unveiled a 1 billion cash call via a placing and rights issue to strengthen the companys finances. It was a good call as the shares subsequently rallied as Wolseley became a back from the brink stock and a debt-relief trade. Hornsbys investment has since generated a 486% profit with the investment now valued just under 246,000....."

+Now there may have been a 5:1 CONsolidation, but the way I see the relative sp movement, Ch Exec Hornsby is staring at a massive loss. Furthermore the sp never reached 2 as "Shares" states . . . . .

-Anyone care to explain it to me?

Wolseley: CEO Chip Hornsby Steps Down, Names Ian Meakins New CEO





LONDON -(Dow Jones)-

Wolseley PLC (WOS.LN), said Tuesday that Chip Hornsby has stepped down as Group Chief Executive with immediate effect.

MAIN FACTS:

-Ian Meakins will succeed Chip as Group Chief Executive with effect from Jul. 13.

one of these days, i just might getting my timing right for this stock!
however, it is certainly worth putting on your watchlist, for there are now persistent reports of uk housing markets starting to revive.
however, as so so often, it is good news in that area that is needed from usa to really kick-start this one

showed a useful profit, which i have now banked as sp currently struggling to break out ...... shall keep watching

glad i got back in at 1138 - i.e. 1130 was breakout point as previously mentioned.
sp and volume have gone balistic today
not quite sure where next obvious resistance is, but no doubt PTH could tell us
1275 could cause a pause followed by 1450 is my guess

thought the market would tumble sharply this morning and took profits too quickly at 1185 ..... never mind; it's money in the bank

this share is the bane of my life! ...... i can never ever get the timing right, but if anyone followed my advice of 14th july (and didn't take profits as i did!) they would now be sitting on a very healthy profit of about 3.00 a share = >25%, but would now suggest at least putting in quite a close stop at the current level, or even banking at least part of the profit

of course a certain KB told me (several times) that i was talking total and utter bollocks about considering buying housebuilders shares + WOS about a week back on BDEV thread ......
however, it's well worth looking at that thread and bringing up the share comparative chart i posted there .....
perhaps KB has choked on the large slice of crow pie she should now be treating herself to, for she has certainly gone very quiet indeed - what a surprise!

Nomura downgrade looks like a shorting opportunity at present.

good thought ..... sure glad i didn't jump back in, which certainly crossed my mind

Currently 1407 +98

Wolseley Swings To Fiscal Year Loss And Warns Its Mkts Will Stay Weak





By Steve McGrath

Of DOW JONES NEWSWIRES

LONDON -(Dow Jones)- U.K.-based building supplier Wolseley PLC (WOS.LN) Monday said it wouldn't pay a final dividend after it swung to a fiscal year loss and warned that conditions in its markets are set to remain challenging.

It said that while new residential markets continue to stabilize, commercial and industrial markets will decline at a faster rate. It will continue to cut costs as a result, and expects profit trends to improve in the second half of its new fiscal year due to the cost reduction measures it has already taken. It expects the measures already made to boost its fiscal 2010 result by GBP233 million.

"Market trends since the July trading update continue to support the Groups view that in the short term market conditions will remain challenging driven by tight credit conditions, high levels of foreclosures and rising unemployment rates," the company said.

Wolseley, which makes a large proportion of its revenue in North America, has been hard hit by the downturn in construction markets across North America and Europe. It has sold some operations, notably in Eastern Europe, and shed thousands of jobs as it cuts costs in response to the downturn. It closed 653 branches and shed 10,364 staff during the last fiscal year alone.

Its net loss in year to July 31, 2009, was GBP1.17 billion, compared with a GBP74 million profit, even though revenue fell only to GBP14.44 billion, from GBP14.81 billion. Revenue was helped by sterling's weakness against the dollar and euro, which boost revenue earned abroad in sterling terms, while profits were hit by the costs of shedding staff and other cost cutting.

It swung to a loss from continuing operations of GBP732 million, from a profit of GBP242 million. This figure is closely watched as an indication of future profitability.

Still, it managed to cut its net debt to GBP959 million at the end of the fiscal year, compared with GBP1.26 billion a year earlier. It completed a GBP1 billion capital raising in April to cut debt and working capital inflow was GBP846 million during the fiscal year.