Looks like Lloyds is on another rising trend. It reached 79 today and may rise to test it previous peak of 81.50. This may well rub off on BKIR and pull it up also. Good news in the banking sector is infections. I have 30k in Lloyds so watching with interest!
I am also in Deutsche Postbank AG and Deutsche Bank AG which I am quite happy about and Commerzbank AG which I prefer not to talk about...
BKIR has performed very well over the last 12 months. I have decided to take my profit. Time will tell if this was a wise decision...
Most of the NY problem today due to initial exuberance on Black Friday being a bit squashed. I suspect 'they' will have gotten over it by mid-week next. The Irish share was due for its 2 steps back and three steps forward performance and that also kicked off today. The central bank governor in Ireland signalled he is ready for retirement when he attracted thinly disguised scorn from BOI, and his hooliganistic treatment of BOI hasn't helped the share earlier today in Europe. The govt shan't be too pleased with him if he muddies plans for the redemption of the prefs.
Increased capital requirements according to CB for our fkir been mentioned i suspect yearly highs have been set and i expect SP to start its retreat until further details with pref shares etc become more clearer, 26c here we come.
Conservative, badly-times and lacking in detail (therefore unconvincing in both directions of the capital adequacy debate) , but nonetheless has sown doubt in the mind of many retail investors who judging by the trades profile are cashing in their chips.
The ECB tests will provide us the real pan-European benchmarks and that won't be until next year. In the meantime, BOI certainly needs to do more house-cleaning on non-performing loans. Just biting the bullet and writing off some of the more toxic stuff would increase credibility.
Anyway, next significant milestones are: 1: solution to pref shares issue 2: FY2013 results 3: ECB stress tests
"Davy also said that the reduction on the bank's capital ratio "looks alarming and on closer inspection looks overly penal". From Bank of Ireland's perspective, it said that such a lack of detail from the Central Bank's assessment and the penal treatment are "especially unhelpful" at a time when it is proactively assessing options to refinance the state owned 2009 preference shares.
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