You are currently browsing the daily archive for April 3, 2008.

Since six directors of Severfield Rowen (SFR, 320p) piled into the stock in January taking advantage of a collapse in the share price, the stock is up 30% both on an absolute basis, and against the FTSE Small Cap index.

Results yesterday (see Tempus comment here), accompanied by more director buying, have sent the stock higher again today. Non exec David Ridley bought 20,000 shares yesterday at 306p, taking his holding to 72,000 shares.

The purpose of this post is to remind you of the strength of the signal that the directors sent to the market back in January (see post here), so that next time it happens both you and I will pay closer attention.

6 directors (out of a board of 11) had increased their holdings by between 50% and 200%!!

Paul Walsh

I see Paul Walsh, CEO of Diageo (DGE 1055p) has sold just under a million pounds of shares, resulting from an options exercise the same day.

Looking back, he always sells pretty much all the shares he receives as a result of exercising his options, not just a portion sufficient to pay the tax, so behaviourally this is no change from previous sales.

What I did notice though is that he has been very clever at hitting all the peaks in the Diageo share price chart over the last two years.

To best see this, go to, search for diageo, draw a chart, and overlay directors dealings.

The chances are that he’s done it again this time, and 1055p may well be the recent peak of Diageo for a few months.

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April 2008