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Vodafone: Q3 trading update 2 February
Vodafone’s India news has already given the shares a big lift, potentially reversing the recent downtrend, but there is still more detail to be uncovered. The focus will be on whether the performance of the European division will be sufficiently robust to offset weakness in emerging markets. The shares have suffered downgrades of late, with brokers airing concerns that key regions in areas such as Africa, the Middle East, Asia and the Pacific will suffer lower growth. Nonetheless, the attraction of Vodafone is as an income stock, and a yield of nearly 6% does at least help to offset the lack of capital growth from the shares.
There should also be further commentary on the India deal, which looks to create a major player within the key Indian market.
The Autumn sell-off in Vodafone shares saw the price slump from 230p to around 188p, bring them to their lowest level since mid-2014. Here buyers came back, which indicates that this is a definitive area of support. The India news put the shares back on an upward path, towards 200p, with the early January high at 216p the next target.