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.
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.
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.
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.
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.
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. Vodafone
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.
