Katherine Roe, CEO at Wentworth Resources talks through the Ruvuma gas development in Tanzania. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Plus they will get the outstanding book of 1.2 billion, so that will be paid back by current borrowers over the mortgage term. It also gives an inroads into more specialist lending e.g. Self Employed.
So half of the buy is money they should/will get back as people play their mortgage off, maybe some merging of colleagues as KM have 800 staff I read that could increase the 500m profit.
Been on the cards a while as juts found this article from Jan https://www.thisismoney.co.uk/money/markets/article-10444787/Barclays-bid-mortgage-firm-Kensington-race-Starling.html
@PSK, I think what Barclays sees of value here is the portfolio. I'm guessing or hoping the loan ratings are good'ish(?). I believe the idea here, is that higher rates will increase profit and i think they are betting on uk wage inflation which would lower the risk of expected defaults.
Am I missing something here? Barclays to pay 2.3 billion and the company only made half a million profit
I am assuming the market has not liked this acquisition, hence stock price fall. However it does drop Barclays CET1 Ratio by 12 points I read.
I'm not sure they need to spend over 2 billion to expand their mortgage book - timing probably couldn't be worse too. But hey, presumably someone paid millions knows better than I do.
Barclays buying mortgage lender Kensington Mortgage to take bigger share of housing market.
The deal is worth around GBP2.3 billion
Kensington Mortgage had
1. pretax profit of £500,000 and
2. income of £65.9 million in its financial year 2021
3. £66.7 million of gross assets as at March 31, 2021
4. mortgage portfolio at £1.2 billion as at May 31, split 70% for owner-occupied properties and 30% in buy-to-let residential mortgages
@sneaking, I'm guessing I'm a lot younger than you, but I remember when my Dad was investing, Banks stocks were high, and interest rates were (compared to now) high. If those times come back, markets do recover fast, and then maybe bank stocks can actually resemble there true value.
Price Target £3.69, having a laugh...maybe 10 yrs time, if were lucky
Think most of your comments are ok except the last banks are a buy I think as I’m old and remember when the interest rates shot up . I was a happy bunny then no mortgage and cash in the bank. :-).
Jesus tapdancing christ, sterling barely 1.20 against usd and oil price in dollars so sucking in parabolic inflation, mad high tax rates, zero growth, a political basket case and the brexit fiasco now really coming to hammer that madness home, U.K. is fxcked, 1970’s all over agin, enjoy. Banks and builders are a sell, and fast.
Why is this dropping so much today ... 4% plus ...
Just wondering is it because their shares are so diluted that the buybacks haven't made much of a difference.
How do the shares in circulation compare with their competitors?
A £3.69 target by Jeffries Financial Group means what exactly? I gave myself a much more modest target of £3 - I am now in the 10th year of waiting to hit target! As to 'Crunchynuts' comment about buybacks and dividends, it is what I have been saying since the 2.5bn buy-back started over a year ago. 'Shareholders love buybacks' I am continuously been told. But no-one can explain why and shareholders that I hear from, say they would much prefer the cash dividend. As we have seen buy-backs have negligible effect on the Barclays SP. It's the market and Barclays mess-ups that dictate that. So a Barclays buy-back appears to follow this process. "Take £2.5bn - convert it to liquid - pour it down the drain - but on no account give that £2.5bn to shareholders as dividends, because that is worth 40p a share to them and we can't give money like that to the owners of the bank!"
Right. So if they opt to give 2p per share in Q2, they will set aside £331,515,696.24M (16,575,784,812 x 0.02p)?
Setting aside the £1Bn buyback as dividend would most certainly have been more attractive!
Barclays (LON:BARC – Get Rating) has been given a GBX 369 ($4.52) target price by analysts at Jefferies Financial Group in a research report issued on Wednesday, Borsen Zeitung reports. Jefferies Financial Group’s price target indicates a potential upside of 130.37% from the company’s current price.
A number of other analysts have also weighed in on the stock. Credit Suisse Group set a GBX 245 ($3.00) price objective on shares of Barclays in a research note on Tuesday, May 24th. Morgan Stanley restated an “equal weight” rating on shares of Barclays in a report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on Barclays from GBX 230 ($2.82) to GBX 210 ($2.57) and set a “hold” rating on the stock in a research report on Monday, May 30th. Deutsche Bank Rese… set a GBX 210 ($2.57) price target on Barclays in a research note on Monday, May 30th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Barclays in a research report on Thursday, May 19th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Barclays has a consensus rating of “Moderate Buy” and an average price target of GBX 243.78 ($2.99).
Barclays share buy back RNS that you see daily is the number of Shares in issue
So is there any way of knowing how many shares are in issue when they go ex dividend?
The company sets money aside for the dividends but doesnt know the exact amount until ex dividend date?
What am I missing, or do they base the dividend allocation amount on the maximum number of shares available multiplied by dividend per share?
With all the doom and gloom about and todays inflation news which lets face it we all new and is nothing of a surprise, but the market reacts the way it does in blind panic. The takeaway from today for me is barclays SP is holding this level and I dont expect this to fall below 150p any time soon unless another **** up happens, I can think of alot of bad ftse shares to put money into this year but this is not one of them.
30% rise in the next 12 months will do me fine and would expect that rise to be sooner rather than later.
Moving up nicely .... let's hope we see this pattern continue to 1.70 in the coming days...
No stamp duty was a bonus, but mortgage interest rates were actually higher then now during that short initial period. I speak from someone who moved home during that time, any additional borrowing was 3% not the current 1.5% 5 year fixed I was on. I decided to just put the extra cash than borrow, but those that did borrow will have increased capital in their homes when they renew, mortgages will still be relatively low, LTV will be a lot higher for these people and their houses will be worth 10-20% more (as an example) (Yes had mine valued as I am now extending it). Those lemmings were pretty smart to move then, how prices were still generally low, if you stayed on your interest rate great, and your now 10-20% up on the purchase. Those lemmings could even take out some equity and buy some more buy 2 lets which turn in more revenue monthly than their mortgage interest rate, smart lemmings.
This should be interesting to hear! Who else does high housing prices benefit then but the wealthy? Homeowners doing well I hear...err not really in real terms! The rungs on the ladder are wider than ever and are in almost the same position as first time buyers if they wanted to upgrade or even move like for like. Only those who use the housing market as an investment benefits....the wealthy elite!
The spinless cowardice of the BoE raises by a pip again. When are they going stop artificially propping up the catastrophic mess that is the housing market?? Trust me, when those 2 year fixed rates end on all of those lemmings who jumped on suniks bandwagon of no stampduty and practically were spoonfed leveraged capital, then siht will hit the fan. Tick tock!
Back to the late 80s/early90s baby yeah!
" High property prices benefit no one but the super rich elite! "
What a load of rubbish.
With the aggressive interest rate rise. Time to get serious about this now! Let's see if the spineless cowards in the BoE have the balls to follow suit.
Fcuk the housing market and the fools who got suckered into paying pathetic prices for a property using ridiculous amounts of leverage which partly got us into this mess. High time for the property market to now feel the burn! High property prices benefit no one but the super rich elite!
The UT was at 16:35 the trade I posted was late reported and a buy
That's an uncrossed trade PSK..