A tip of the hat to Tom Rees of the Daily Telegraph, who noted in his market report today that shares in Shire were up sharply on “a reheat of City takeover rumours with Japanese peer Takeda the latest to be linked with the FTSE 100 firm”.
At about 11am today, Takeda confirmed this tale.
Mr Rees is presently doing two things. a) taking high fives. b) cursing himself for not running with the story much harder. Still, he was right, fair play. Score.
In the old days, the stock market reporter spent most of the day hanging around wine bars, collecting exactly these sorts of rumours.
That sort of behaviour is frowned upon these days, and some idiot invented the internet, which means reporters are more like gerbils on treadmills, constantly fighting to keep up.
Which means doing the stock market report is a lot harder than it used to be, and there’s a hole for flaks to fill if they were more imaginative.
Flaks trying to get clients into market reports tend to tell us obvious things — stuff we can already see.
If they gave us a bit more, dug a bit deeper to tell us stuff we can’t see but that their clients know, they’d do well.
Detail is key. Why did shares in company x move? Who bought? Who sold? On what volume of shares? What’s the gossip?
Make us look cleverer than we are. This isn’t that difficult, and we’ll remember you for it.