Hi irish_bob, You could be right about the dip on the news. I personally think that banks are being dived into 4 sections, 1:Banks that it is believed will pass, 2:Banks people wouldn't be surprized if they failed, 3 Banks that looked dodgy but passed, 4 Banks that looked good but failed. I personally believe that the big guys will have plans over the weekend around this, depending on which section a bank falls into will immediately determine what happens Monday morning. For (1), they could fall, (2) might actually rise, (3) will rise sharply, (4) will obviously fall.
i sold some of my holding yesterday , this stock had made up 15% of my portfolio but i reduced it to 9% , im bullish but the days of 100% gains in one year are over , banco santander is just as cheap and pays a dividend , will buy it next week if results are good as i feel their will be some " sell the news " on monday
..UK regulators in an article today say aib breached competition rules by requesting companies that have loans open up a bank account with them; this is common to all banks; banks are in the business of loans but also of bank accounts; a little off the far side. ..
..behind closed doors it is known it may require some capital , politicians can never keep this private; rumors of a merger with another bank ; ulster bank.. Aib is next to be sold off in portions; after the resolve the xtra 500b shares which are useless and diluting the valuation of aib
on stress tests and markets normalize a bit, irish bank shares are a must for any portfolio in my view. Its fairly clear banking here is a protected sector. Leave aside qe, bond buying, cheap money and all that support that comes through the ecb and just take our government here. The independent central bank of ireland announces measures to put a lid on property prices and protect both banks and borrowers from themselves. Long term good for us shareholders but not great short term. However, many government members and including our minister for social welfare have questioned the severity of a 20% deposit. So to help potential home buyers out Michael noonan announced a dirt free savings account for them in the budget. Win win for the banks. Today Enda undermined the CB as well by suggesting a government fund of sorts to provide the deposit for borrowers. Win win again for banks. Obviously or recent history is well forgotten though.
final pre-weekend crystal balls appearing. I took a piece of Piraeus after it dropped like a stone last week to 1.06 and looked oversold: yesterday up to 1.26 and today levelling back to 1.23 as it is cited in this Spanish "news wire". No mention of any Irish banks in this one though.
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.