London, 09:13 GMT, Jan 19, 2026 — Regular session
- Vodafone shares nudged up in early London trade following a share buyback announcement.
- Investors weigh company buybacks amid new tariff-driven market shifts.
- Attention now turns to Vodafone’s third-quarter update and interim dividend, due February 5.
Vodafone Group Plc shares gained 1.2% to 102 pence in early London trading on Monday, following the company’s announcement of another stock buyback. The telecom giant purchased 2,869,366 shares on Jan. 16 at a volume-weighted average price of 100.82 pence and plans to hold them in treasury. 1
The buyback is significant since it’s one of the rare tools Vodafone can reliably pull on daily, especially as politics and interest rates roil the equity markets. For traders focused on the short term, buybacks often provide a floor beneath the stock when trading gets turbulent.
This comes just before a busy period of company updates across Europe, where investors often react harshly to any signs of weak cash flow. Vodafone’s shares have outperformed many UK large caps over the last year, so even routine comments are scrutinized closely for tone.
European stocks took a hit Monday following threats from U.S. President Donald Trump to impose new tariffs on multiple European nations, stirring fresh trade concerns. The STOXX 600 dropped 1.3%, while London’s FTSE 100 slipped 0.4%. Vodafone stood out by bucking the trend and gaining despite the broad declines. 2
Some strategists flagged a bigger threat than the tariffs themselves: the fallout if the conflict shifts into financial territory. “The real disruption to markets would come from weaponizing capital rather than trade flows,” said George Saravelos, Deutsche Bank’s global head of FX research. 3
Vodafone’s latest buy came through Merrill Lynch International, according to its filing, under a programme started last November. The company pegged the trade range between 100.40 pence and 101.40 pence.
Treasury shares are stock held by the company itself, not by outside investors, which can shrink the free float. The volume-weighted average price represents the day’s average price, adjusted according to each trade’s size.
That buyback update is, in a way, just routine maintenance. It doesn’t shift the key questions investors have: how quickly revenue will bounce back, the intensity of competition in core markets, and Vodafone’s capacity for more returns if financing costs remain elevated.
Vodafone’s next checkpoint is coming up fast. The company’s calendar marks a third-quarter trading update for Feb. 5, the same day it plans to pay an interim dividend of 2.25 cents. 4
For now, traders are watching tariff updates closely while tracking Vodafone’s steady stream of daily buyback announcements. The next major date to watch is Feb. 5.
