Why do share buybacks matter so much nowadays?
These days it seems as though every company and their dog are buying back shares, if the morning flood of RNS (regulatory news service) announcements is anything to go by. Out of 300-odd news stories each day from 7am, by our reckoning over a third are 'transaction in own shares'. Although it remains to be seen whether that trend will continue in the face of market turbulence. Notably Tesco...