IMI buyback math shows FTSE gap with results still ahead
IMI plc closed out the week up 0.82% at 2,940p, widening a weekly gap over the FTSE 100, which finished Friday up 0.25% at 10,679.03. London markets are closed for the weekend. For holders, the main point isn’t the daily price move but the share count calculation. IMI wrapped up its first £250 million buyback, part of the planned £500 million program. Now Deutsche Bank AG’s London branch, operating as Deutsche Numis, will oversee the next £250 million phase.