43 days ago • Posted by Jasper Lawler
Buybacks are back! Companies repurchasing stock nearing pre-pandemic levels
Trillions of dollars stashed by U.S. and European companies during the coronavirus pandemic are starting to flow to shareholders, largely via buybacks, after a 2020 drought.
uyback announcements came thick and fast with first-quarter results, with multi-billion dollar programmes from Apple and Alphabet stealing the limelight.
Analysts note a buyback rebound in Europe too, ranging from Maersk and Unilever to Carrefour, which is planning its first in a decade.
Some $360 billion in buybacks were announced in the first four months of 2021, versus $190 billion in the same year-ago period, JPMorgan strategist Nikolaos Panigirtzoglou said.
The S&P 500 buyback index is up 22% year-to-date, trumping the main benchmark's 12% gain.