The Department of Finance released its monthly update for July on mortgage restructures and arrears. On Principal Dwelling Houses (PDHs), mortgages in arrears of greater than 90 days have dropped by 1,597 accounts in July to 71,300. The number of permanent mortgage restructures was up 2,786 accounts in the month to 75,605, showing strong momentum. On buy to let dwellings, the number of accounts in arrears over 90 days fell by 97 accounts in July to 26,601 and has been effectively stable for the last number of months. The number of permanent restructures was up 396 in July at 14,239. We welcome the continued arrears reduction in the PDH market and stabilisation finally in the BTL sector. In addition, the increase in permanent restructures iys moving in the right direction. However, term extension and arrears capitalisation continue to account for the bulk of the permanent restructures and we would much prefer to see additional measures in place, like split mortgages (e.g. only 712 split mortgages in the BTL sector). Nonetheless, our base case is the banks have taken adequate provisions to cover ultimate mortgage losses and the recent bounce in collateral values is providing additional protection for these provisions.
Just curious, are any of ye currently or ever been invested in Ryanair? I wanted to buy in last month but was tied up elsewhere. 10% jump since. Another Michael o Leary special with his recent aircraft order from Boeing also this week. Likely to pay more dividends again soon.
I haven't flown with them recently, have any of ye been treated to the new smiley, friendly Ryanair? I've never had a bad experience with them, and got some bargains with them over the years. 4 euro return all inclusive (with baggage !!) to Germany for a group of 6 of us about 5 years back. Awesome weekend. How could you turn that down??
Morning Doughnuts, chalk me in here as well for the pig iron of it, average 0.261
Seen as ye have all been spilling the beans lately, im just a few months shy of 30. based down in cork. I was working as a geologist in oz, (home nearly a year) put a chunk of my earnings into this and INM. Sold out of there recently for about 5% profit, doing a bit better here now thankfully
Bank of Ireland have made adequate provisions for the stress test. I expect share price to rise and not fall in anticipation of results. Investors won't wait for results. Nobody ever got rich sitting on the fence. Mario draghi was talking up support for his latest initiative last night trying to encourage European countries to so their part to stimulate growth. One US analyst on Bloomberg described European banks behavior as stepping on the break and gas (accelerator) at the same time. In other words banks are not lending because they want to have adequate provisions to pass the stress test while at the same time they are being asked to lend to stimulate growth in the economy. The same analyst suggested that Europe was four years behind America in terms of recovery stating that Europe was still up to 30-40% behind where we were before the crash. He said Europe represented a good investment because of this.
..boi is ahead of schedule with financials almost 2yrs , they were scheduled to meet the 800m range by end of 2015, but there have been surprises, earnings, much less write offs , faster recovery of real estate, much improved economic GDP for Ireland all ahead of estimates , stress test will not be much of an issue for boi , earnings should within 1b range, if p/e could kick in, value would rise rapidly, the need to rid of the preferred stock pocket the interest savings, and once stable pay a small dividend..past 0.50 by March 2015..
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.