Sincere apologies, ATM at this moment, Fleecy, thank you for the earlier interpretation, personally hate using abr's myself and especially lol. First I thought it meant "lots of love," before being brought up to speed. Though I do prefer to use lmao these days. The use of texting and phones are killing social interaction, all children want to play are war games, considering the future will be drones in combat, makes one wonder, who is behind the idea's ?
Instead of a ATB or GLA, will sign off with a "Another day, another dollar" Trust everyone has a great weekend.
Interesting that Berenberg is thinking along the same lines I have been suggesting, even though I don't pay much attention to analysts to be honest. In this instance, I tend to agree though. ""Clarity on strategy is needed, with perhaps only a break-up able to crystallise value," said James Chappell, an analyst at Berenberg. "Our preference remains for a full separation of the investment bank with a listing in the U.S.""
Friday, 27 Nov 2015, 09:58 GMT Barclays share price: Bank faces accusations of interest rate-swap fixing A US pension fund has accused Barclays (LON:BARC) and fellow lenders, including London-listed peer Royal Bank of Scotland (LON:RBS), of conspiring to limit competition in the $320 trillion interest rate swaps market, Reuters has reported.
A class action lawsuit, filed by The Public School Teachers’ Pension and Retirement fund yesterday, says that the banks -- which also include Goldman Sachs, UBS, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, BNP Paribas and Deutsche Bank – have prevented trading of interest rate swaps on electronic exchanges since 2007. The lawsuit, filed in the US District Court in Manhattan, asserts that the lender used pseudonyms for joint-projects to protect their identities and alleges that the defendants “have jointly threatened, boycotted, coerced and otherwise eliminated any entity or practice that had the potential to bring exchange trading to buy side investors". Broking platforms Icap and Tradeweb, who are key players in the swaps market’s infrastructure, are also accused of participating in the violations by providing a “forum for collusion" and taking certain ‘business decisions’, on the banks’ behalf. Similar allegations of bank collusion in the market for another type of derivative known as credit default swaps, have been the subject of investigations by the US Department of Justice and the European Commission, as well as a separate class action lawsuit brought by investors. Barclays was among 14 groups, which agreed in September to pay a combined $1.87 billion to settle the allegations. Barclays’s share price has been subdued so far today. As of 09:51 GMT, the stock was trading at 224.40p, 0.36 percent down intraday, mirroring a 0.32 percent drop in the FTSE 100 index, which meanwhile stood at 6,372.45 points. As of 10:07 GMT, Friday, 27 November, Barclays share price is 224.38p.
Only just seen your kind remarks on switching on. Could you enlighten me as to what ATM means. I thought it was automatic tellers machine! I only taught at night school but for some years. I did help set and vet exams at the Chartered Insurance Institute and was a broadcaster on financial matters and part time financial journalist. I do not claim to be an expert on charts although I do believe they are an important pointer. Have had WF Gann explained to me also Elliott Waves and Kongratieff Curves but am not much the wiser I am afraid! That said I go along with the Warren Buffett, Woodward belief that value investing always works out. If you have a company with increasingly good results year after year and good dividend payments in the long run such shares will always do well not necessarily in the short term. Which brings us to Barclays also RBS and Lloyds. RBS is a complete basket case. Lloyds the jury is still out (I worked for them for 23 years) . The Barclays chart is very poor and the continued bad news flow just will not dry up - eg yesterday's fine. They still a cannot seem to get the culture of ethical trading which their CEOs have been trying to instil for years now. A family member who has just left the bank after 25 years had a DAILY selling target. SO overall it is not a pretty picture and cannot see any reason to support them for some years probably. Look at HSBC and BKIR as much more promising alt ernatives GLA
Maybe a "trap". Who knows? IMO, recent buying is mostly due to market anticipating more ECB stimulus. Draghi indicated as much. Banks may also get an extra lift next week from passing stress tests. Here also, new CEO on 1st Dec. may add a bit to any upward momentum.
But what we've seen previously with ECB stimulus is that it's been a case of "buy the rumour, sell the news". Any gains peter out. That could be so again. It may also be that a lot is priced in.
As others have noted: US not far off record highs again. It looks overbought. If US sells off later, much of the FTSE usually follows.
As banks have lagged behind recent rises, this creates added uncertainty in short-term. I've booked gains where possible with stocks like HSBC on a few occasions as the climate may remain volatile for a good while. Well into 2016.
Of course, I could be wrong & instead we see a huge Xmas rally. Never an easy call, so best that all follow your own deductions. - ATB!
As a rule it's dangerous to short going into the end of the year unless there is some unexpected catastrophe. I've invested a fair amount of spare cash just to make 3% ish on the indexes and also holding 50% more than I would normally carry here in my portfolio which I bought the other day at 220 which I will give back, if all goes to plan, at 230. Obviously there is risk but 3% is more than I'd get on cash for a year....
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