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Buybacks are an interesting beast. In my experience they do not always pan out how you think. Neither do they always start with gusto and keep going the same way.

JHG and BSL have had buybacks over the last few months but has not done much for either share price.

My own view is that instos tend to desert a share when a buyback is in place, if for any reason possibly as it is not a true market and potentially over-paying due to the buyback theoretically pushing up price and funnily enough the price can fall.

Not saying any of this will happen with BIN but will be interesting to see how it moves.