London, Jan 10, 2026, 08:46 GMT — Market closed
- Vodafone shares fell 2.4% on Friday, lagging a firmer FTSE 100
- The group kept buying back stock, purchasing 1.36 million shares on Jan. 8
- Next focal point is Vodafone’s Q3 FY26 trading update on Feb. 5
Vodafone Group shares ended Friday down 2.36% at 101.20 pence, a weak finish ahead of next week’s reopening after weekend markets shut. 1
The telecoms group said it bought 1,355,080 shares on Jan. 8 at a volume-weighted average price of 103.38 pence, part of its ongoing repurchase programme. 2
That matters now because Vodafone’s equity story has tilted back toward cash returns — buybacks and dividends — and the next trading update is close enough to make positioning awkward. The company has said the buyback programme can run until Feb. 4. 3
Friday’s drop came even as the FTSE 100 rose 0.8%, leaving Vodafone trailing the broader market. The stock closed about 7.6% below its 52-week high of about 109 pence hit on Dec. 19, and volume was light versus recent averages, MarketWatch data showed. 4
Some investors also kept an eye on India, where Vodafone owns a stake in Vodafone Idea. The Indian government capped Vodafone Idea’s annual telecom dues for the next six years, a move aimed at easing cash strain at the debt-laden carrier, Reuters reported. 5
Vodafone itself has been leaning on a “progressive” dividend message. It says it expects to grow the full-year dividend per share by 2.5% for FY26, tying payouts to a medium-term outlook for adjusted free cash flow — cash left after capital spending. 6
But the downside case is still plain: any sign that cash generation is slipping, capital spending is creeping up, or pricing pressure is biting could drag the shares back under the 100-pence level that traders tend to treat as a line in the sand.
Next up is Vodafone’s Q3 FY26 trading update on Feb. 5. Investors will be looking for service revenue trends and any read-through to cash flow and the pace of buybacks before the programme’s current end-date. 7
