Hey , I think you might be talking about me , waiting on a new laptop so relying on phone to use net I reduced my holding down to 5k worth of bkir but I reinvested in bnp Paribas , societe generale ,.santander and raiffeisen bank ( Austria ) Plenty of undervalued financials in Europe ( and the USA )
RE: Resistance at 32.2
With the US On holidays this week more or less, everything is a bit slower. Next week will be more interesting as we start the run up to year end. As regards write back. As it stands, with the HPI at around 40% off peak the maximum boi could write back today is estimated at €600 million. The CB here has advised banks to be conservative with write baks so it looks like around €200 million would be a fair guesstimate for FY2014. That would take them from 55% to 50%. Of course property prices could jump substantial before Dec 31st but I still think the €200 mil will be ball park.
Resistance at 32.2
Fkir testing all day but not breaking out. Volumes reasonable. Head winds seem to be soft breezes now.Oil going south fast. Baldy Noony purring like a cheshire over the jobless numbers. Property up 16%, Unemployment down to 11.1%. In other less conservative banks this would allow a billion euro write back of provisions but i'm going to guess 400m write back.
Steady as she blows.
...my guess is that it will hold at where it is at..a lot of countries are scrambling out there with loss of revenue ..I read an article recently in bloombergs that oil woul be back at 95 by end of 2015.. Re : AIB - they have so many options on the table, they are being selective, including the ecb , trade volume is very low..AIB has purchased what little in shares were available out in the market..it is up trading at 0.072 .. almost 6% today; I don't foresee it falling to 0.02..today will be a slow day..holiday & 1/2 day Friday ...4 weeks for year end..
A decision will be reached today to cut production......that's my guess anyway.
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