Underlying momentum in a volatile environment February 12 2016 | Diarmaid Sheridan | Morning briefing | 1 page(s) | Read Important Disclosures 2015 will demonstrate ongoing progress towards sustainable profitability. Following redemption of the 2009 preference shares, we expect the outlook for margins, loan growth, impairment write-backs and emerging regulatory costs to be key areas of focus. But with concerns about the global economy and a renewed focus on the health of the European banking system, capital solidity and ongoing progress on impaired loans will also be important milestones at December 2015. Bank of Ireland trades at 0.95x our 2017 tangible book value, a 53% discount to our fair value, and with dividends resuming in 2017 – to be announced with 2016 results – we reiterate our ‘Outperform’ rating.
... nikkei closed down 760 pts.. below 15 k level .. and EU mkts opened positive.. difficult to explain... news today is a slowdown in german gdp 0.3%. .. Ireland has to be at the top.. EC .. barely another 6 workdays remain before BOI results 22nd...
S and P may upgrade here soon! "In many ways, we consider that the banking system has reached an inflection point as it transitions from post-crisis recovery to a phase where the sustainability of its recovery, and the resilience of banks' underlying business models, will be put to the test," S&P said.
... down 550 pts ... it fell 860 pts but recovered somewhat... it is headed into 14k territory.. not too long ago in the 21k territory.. almost a 7k loss from the high.. markets are still in a free fall..
.. yellen is lost in the woods... my father had mentioned that yellen wants to reduce rate by 1/4 of 1%.. he compared this to a driver traveling at 25mph and suddenly shifting the automatic into reverse gear.. ..
About 6 to 9 months ago I spotted construction of large projects; shopping centers & multiple occupancy residential tower blocks (i.e., appartments or flats) here in Madrid. It is bizzare if not surreal as there are still so many empty properties here. Government and banks are sitting on many and still keeping the prices artificially inflated. Never really had a crash on the scale of what happened in Ireland. Not the same free market when it comes to propertry. Not the same transparency. Regardless, it appears they have turned the corner and property prices are once again starting to climb. Unemployment is still a disaster and wages are very low. Not sure about Italy but doughnuts perhaps can give us a report on what it is like there now...
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