Post-Brexit: FX translation impact; lower UK lending activity June 29 2016 | Diarmaid Sheridan | Morning briefing | 1 page(s) | Read Important Disclosures Bank of Ireland (BOI) has fallen by 31% since the UK’s Brexit vote, one of the largest declines among the E300 European Bank constituents. The impact of the Brexit vote will not become fully apparent for some time, with visibility likely to remain low as the political landscape adapts and evolves. In this context, we reduce our expectations for new business activity levels in the UK while also incorporating revised FX assumptions. On our revised forecasts, BOI trades at 0.73x our 2018 tangible book value and 8.5x 2018 earnings. We retain our ‘Outperform rating’ with a 26c price target.
Don't confuse him revealing his position with him opening it mate imo - if I could see the big plan shaping up over the last few weeks then I'm sure he could too but while I, as a nobody, can be as gobby as I like about my positions, he's, perhaps, rather too close to The Man to be so forward/vocal about his ...
If Germany won't play ball with The Man then they'll be driven to the wall ...
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