IHG buyback near record highs puts capital-return math in focus
InterContinental Hotels Group PLC will start next week with its London shares still close to a record, after the Holiday Inn owner bought stock through June at prices near last week’s high. The London Stock Exchange is shut on weekends; IHG’s latest London trade was Friday’s $171.55 close, down 0.64% on the day. The stock rose 1.36% for the week from its June 19 close, while the FTSE 100 gained 1.40%. IHG touched $175.70 on Thursday, June 25, and volume that day was 839,904 shares, more than twice Friday’s 386,664.