Closing Share Price

katsclaws

I have a share portfolio account with a well known stockbroker. My OH has a share portfolio account with a bank. Once a month we update our spreadsheets. The closing prices on my share portfolio for the same shares are lower on my account by as much as 1p per share compared to my OHs and those in the share prices of a daily newspaper which exactly match the closing price of shares in my OH's portfolio. Does anyone know why this happens. ? My OH thinks I should move to another stockbroker.

TCA

Moving to another stockbroker wouldn't affect the value of your shares. The shares are worth what they are worth. If you decide to sell them for a tenner, then you'll get a tenner. Maybe the different systems update prices at different times, it happens. Try checking them again now and work out what pricing is being used for each. You'll get live prices and the previous closing price from the LSE website. Just search for your particular share:

http://www.londonstockexchange.com

Financial_Saddler

I would hazard a guess that the higher valuation is based on the mid price of the share ( between the bid selling price and offer buying prices of the shares ) and the lower valuation is based on the bid price ( a more accurate reflection of the value ).
Moving to another stockbroker on this basis would be a bit silly.

bowlhead99

1p per share does not make any kind of material difference to your portfolio unless the shares you're talking about are valued at 2p each. Given the market is closed when you are looking at the prices and they're not the ones your next trade would practically deal at, it would be an absolutely bonkers reason to change broker or investment platform.

Shares are quoted with a bid price and an offer price, the lower one being the one you could sell a "normal" amount of shares at, and the higher one being the one you would have to pay to buy that quantity. The paper and or your OH's broker are likely using the "mid price" halfway between the two, or the last reported trade of the day which might be the high one or the low one or somewhere in between. Papers usually only quote one price to save space, they don't know if their readers are looking to buy or sell.

Your broker is giving you a conservative picture of what you would have got you had sold at close of business yesterday. Which you did not, and neither did your OH sell at the mid price. It is historic and academic, but IMHO your broker is doing it the way I would want them to

katsclaws

Thank you TCA, Financial Saddler and Bowlhead99 for your quick replies and explanations.