Over the last 7 years it has been so fashionable to bash the banks in every way possible. Here in the UK the Government have used PPI, Bank levies, Regulatory fines and now virtually zero interest rates to boost the economy using banks as their cash cow. The policy effect of such low interest rates is now threatening banks existence as they are finding it more and more difficult to sustain the high levels of capital that they have to hold and make a profit in this environment. In the UK financial services account for such a large part of our GDP, nearly 2 million jobs yet the government has still not moved enough from its banker bashing stance. Wells Fargo in the states has advertised yet again the "nasty face" of banking (Stumpf did no one any favours with his abject performance) and here in Europe the Deutsche DOJ fine threatens contagion across the Eurozone. The market is now saying there is considerable danger to the banking fraternity with these low interest rates. CB's have been the only game in town for the last 7 years, much more now needs to be done on the fiscal side but the UK government is hamstrung with the uncertainty of Brexit - Hammond and May need to get above the parapet and clearly define their vision for Brexit but that will be at least 2-3 months away before we hear anything at all meaningful. US elections with 2 horror stories to choose from does not help long term investment decisions as neither is likely to do more than 1 term. I cannot see any change in the sp performance until a lot of the negatives surrounding investment in the banking sphere are removed - may take another 5 years as I think all of us on this board have underestimated the time period the world needs to recover from the events of 2008/9.
Maldim. Can I ask you where you come to 39p. I have looked at the 3 year chart and lowest it went was at 47p. why would it go all the way down to 39p. I'll stick my neck out and suggest support at 53p. I actually bought in today at 53.97 and feel comfortable at this price. I am pure chartist and on the one year chart if u take a look at the BB (Bollinger Bands) ,, the price is out of the lower band,...my experience in trading when that happens ... good buy in opportunity as price floats back within the comfort of the BBs.
Gold could hit £1350 if trump gets in. I reckon he will. Taking the gamble. Anyways. Anglogold Ashanti might bring back dividend next year. Probably won't hang around that long there. If Lloy go's way down I'll get back in. DYOR
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