OK, I am going to explain once more the stock price of RNC..in Frankfurt…. and then I am done with it.
There are still people who think that the earth is flat…. that the sky is blue at the same time everywhere and when the sun dissapears the sky is dark everywhere. But I can assure you that this is not the case. The earth is definitely round! So when the market opens in Toronto
at 09:00 local time the clock in Frankfurt stands on
15:00. As you can see there is a time lack of six hours. Frankfurt is closing
at 17:30local time (of
11:30 Toronto time) and Tradegate
at 20:00 local time (
14:00 Toronto time). I hope you still can follow me. So neither Frankfurt nor Tradegate have the closing price of Toronto, Frankfurt misses 4 ½ hours of trading in Toronto en Tradegate 2 hours. If someone is saying Toronto is probabely opening stronger because the RNC price in Germany is up 4% do you think you get valuable information?
There are some other important facts you have to know: The average turnover in Frankfurt and Tradgate (250.000 shares in the last 17 days) is quite small if you compare with Toronto and the bid-ask spread a huge 6%. So, I hope you agree with me that most of the time you won’t get valuable information about RNC stock movements in Germany only if there are huge volumes and the price is a lot higher/lower than
the closing price in Toronto
the previous day. You have to divide the closing price in Toronto by around 1,5 so you get the price in euro’s and this one you can compare with the acual trading prices is Germany TILL the opening in Toronto.
So I hope you got it and….. PLEASE ….. if you want to inform people do it in a proper way.