"Investec Equities: BKIR - Moody's changes outlook to positive on BKIR senior debt Moody's reported last Friday that it had affirmed BKIR's Baa2 long-term issuer, senior debt and deposit ratings and changed its outlook on the ratings from positive to stable. The rating affirmation was due to improved credit fundamentals while the improvement in the outlook was attributed to the favourable operating environment in Ireland and the UK, which Moody's noted, should help to improve BKIR's asset quality and profitability. However, Moody's then goes on to note that "Despite some further upside potential due to lower cost of funds and increased net lending, Moody's expects the bank's profitability to stabilise reflecting the challenges BoI will face in its core markets including potential reduction in lending rates in Ireland and increased competition in the UK". Finally, Moody's observes that BKIR's "...improved ability to generate capital organically will largely offset the uncertainty caused by the periodic movements arising from changes in its pension deficit". The affirmation of the Baa2 rating and the improved outlook do not come as a surprise given the continued improvement in BKIR's profitability, asset quality, and capital levels (despite some recent volatility to the downside with respect to the latter). This positive outlook should be followed up with a further upgrade to the BCA in the relative near-term, and is helpful from a funding costs perspective. John Cronin │Research Analyst│+353 1 421 0494│ john.cronin@invest"
there will be no crash anytime soon , the huge fall in august only lasted a day proper and completely recovered within two months , we went up too quick in october but if august didnt create a stampede for the exits , nothing will , the big guns will manipulate the market down on wall st in the coming weeks so as to deter the lily livered yellen from raising rates , after that , we will climb again
This was the first share I bought, I think initially at 14c and somehow ended up with an average of 31.8c so sold almost at parity. Really frustrating share and even though this was a long play for me I think I will use the funds to build a better PF and then jump back in here. As with the last few weeks I cant see this going very far in the coming weeks but good luck to all who remain in nonetheless.
Not overly optimistic for European markets tomorrow. You would think there is very little reason bkir would be affected but any excuse to knock a couple of % of it. One possibility does open up though. More QE. With European economies showing little sign of growth already the desperate events in Paris are sure to have a negative impact. Could there even be a cut to zero (or below) for interest rates? I wouldn't be surprised. Will it affect a Fed rate increase in December. Good chance it will. The Euro is sure to fall when markets open and if that happens is parity far off. Good news for Irish exporters but serious pressure on the Yanks. Yellen might consider it just to risky to jump this year.
It occurred to me as well that oil as weapon comes into play once again here. Saudi Arabia is pumping out as much as possible now to keep prices low and destroy shale producers in the US. Well as a sponsor of IS the States could do worse that support their oil companies, pump out even more oil, depress prices even more and see who goes bust first. Oil below $40 and lower could well be on the cards.
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