Monday 23 October 2017

A strange coincidence, or not?

A GOOD BET: Jockey Ruby Walsh celebrates after winning the Paddy Power Gold Cup steeplechase onboard Al Ferof at Cheltenham last year. Paddy Power, one of the minority of listed Irish companies from which Davy receives no material income, was given a thumbs down by the stockbrokers last week
A GOOD BET: Jockey Ruby Walsh celebrates after winning the Paddy Power Gold Cup steeplechase onboard Al Ferof at Cheltenham last year. Paddy Power, one of the minority of listed Irish companies from which Davy receives no material income, was given a thumbs down by the stockbrokers last week

Shane Ross

WHICH embittered cynic insisted that stockbrokers never issue "Sell" circulars?

Probably some brass- necked journalist. Last week, Davy, the doyen of Ireland's brokers, confounded convention. It issued a "Sell" note about Paddy Power bookmakers.

Some poor innocents – somewhere – still take heed of Davy's views on the market. Paddy Power shares tumbled in reaction to the broker's thumbs down.

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