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Started: ashton, 17 May 2024 16:37
Last post: playingcards, Today 02:08
Nurse
Lame
Are you on the bottle today, cookie, you're all over the shop 😂
I’m sorry now but what update did you get Ashton ?
JH,
Tks for the update. Ashton
Last post: cooking, 23 May 2024 14:44
Also Jon Jon when dealing in 520,000,000 )100 is irrelevant
Lansdowne place that’s something you created in your head while walking around in circles. Can’t ever remember purchasing a property at that address
Cuckoo,
you would be surprised how these decimal points ADD up to being the equivalent of a substantial number of shares in a bag of 520million.
Had a very enjoyable walk from your pad in Lansdowne Place in Ballsbridge to the RDS this morning.
Would strongly recommend you take a walk yourself as you REALLY need to get away from that rear view mirror and screen for a few hours. Do wonders for your mind. Maybe a flight to Cloud Cuckoo land would be more beneficial.
Whichever you do just ensure happiness keeps radiating from your over worked fingers.
I find you so pathetic including the .03cent to get a differential of a few. Euro
You need to go for a walk
“Looks like they could hide behind the ongoing buys back”
100 percents Jon your absolutely FOS
Started: cooking, 23 May 2024 12:38
Last post: cooking, 23 May 2024 12:38
Well grasshopper I hope you took the advice and treated yourself to a quarter pound of your favourites.
By the way of all the shareholders who are holding on you were the only one who needed advice to do so.
If you haven’t sold I presume you never thought much of the advice in the first place. At least you got congratulations from Jon Jon that must mean a lot
Started: Kenq2020, 22 May 2024 11:42
Last post: ETF__investor, 22 May 2024 20:02
Yeah up everyday by a small bit plus the added bonus of reading John H and cooking on this forum 😂
Nice to see how quickly the SP has recovered the dividend drop - capital appreciation and dividends, what's not to like?
Financial Times have updated their analysts forecasts: €12 average, with a high of €14.60.
GLA.
Started: cooking, 17 May 2024 18:51
Last post: johnhume, 17 May 2024 19:07
"not a very productive use of time jon "
are you referring to yourself or gg ?
as regards the cabbage sarcasm YOU are the one who raised the question " if cabbage costs €1 how many can be bought for €20" . You asked the question and my response is logical - unless the sarcasm is emanating from yourself. fair comment !
GG @9.99 “ I am outta here Bon voyage” 8/4/24
29/4//4 “ you reckon they will give a heads up on the 480 tomorrow Jon Jon . It should negate the ex dividend effect if it’s positive “
12/4 “Have you one zero too many on your buy back still available Jon?”
Please stop embarrassing yourself
Ignore the SP shown on this site, current SP €10.165. Off 0.04%
What’s this near 4% drop about
Started: cooking, 1 May 2024 09:20
Last post: Greengrass53, 13 May 2024 07:05
Sorry meant marbella 😉
His 'what' is in Estepona, cooking, did you leave out a word 😉
Oh I would love that
I am in Estepona and could meet up too?
Cloud cuckoo land suits me fine ! We must meet up the next time your in Marbella I’m around San Pedro area . I promise I’ll be nice ( a funny day indeed)
Started: NewDayToday, 10 May 2024 10:08
Last post: cooking, 10 May 2024 15:27
Can someone who knows Jon Jon really well have a word with him and ask can he stop running around with his pants down around his ankles
Only john can answer those taxing questions
That ship has sailed NDT. IMO I think we will see a r8se over the next few weeks that will match yesterday's drop/divi but not guaranteed.
GLA.
You are.
Hi Kenq2020. Sorry to sound a bit daft, but am I right in thinking if you buy today, you won’t eligible for the divi? Thanks.
Started: Howth, 30 Apr 2024 11:30
Last post: cooking, 7 May 2024 21:38
GG His masters voice
€0.60 pre tax, payable 11th June
Ex Div 9th May
When do you need to be holding shares to qualify for dividend, how much per share, when do they payout. Asking because the current price is so close to 25 Feb 2014 price. And I want to make a decision, should I stay or go now...
Not all specific to BIRG - most of the Euro bank stocks are well up today.
That said, both of the main Irish banks have got some good recommendations recently from US analysts
Started: Joeoh33, 6 May 2024 20:49
Last post: cooking, 7 May 2024 15:59
I’d say lickass and Johnny no shares are long gone
Any1 know who funds this site? It’s presumably an ad model? I have been getting a lot of pop ups recently so put ad blocking on, now it’s not much better but a whining please don’t block our ads is popping up!
Started: Howth, 30 Apr 2024 11:50
Last post: joxer22, 30 Apr 2024 12:02
In some cases dividends can really work out well e.g. for a pensioner whose income is under the tax threshold there may be no tax liability or else tax at the lowest rate. Not so good for those in the higher tax brackets.
Thanks Joxer . That makes it even less attractive.
AIB report on thursday.
Started: Howth, 30 Apr 2024 10:38
Last post: joxer22, 30 Apr 2024 10:54
Davy seem to hint at that possibility when commenting on the strong capital performance - "Post Q1, there is either upside risk to this forecast, or to distributions"
Howth,
my reading of this is the 2024 interim dividend to be paid in 2025. 2023 results released in February 2024 The 2023 f/y figs referred to "Group expects 2024 distribution to comprise combination of ord div and share buy backs with interim div to commence."
"We remain on track to deliver our committed financial targets, including the commencement of interim distributions this year"
Does this mean we can expect an interim Dividend?
Started: joxer22, 23 Apr 2024 11:13
Last post: johnhume, 30 Apr 2024 10:51
I suppose as the resolution approving the 1Bn share buy back confirmed the end of december 2024 as the completion date the buy back should be completed by then. T and C of approval may mean it's execution is at BOD discretion.
2 negatives from BIRG statement ;
cost to income ratio gone out from 42 to 45%.
NPE exposure increased from 3.1 to 3.2%
would not be surprised if buy back balance of 480mill deferred to issue of results in 2/25. hopefully I am wrong and delivered with H1 24 end of July.
anybody going to AGM and raise the buy back balance issue.
MIM meant NII . Best correct before Jon Jon smacks my bum
An optimist would say that’s a drop from a 6% reduction to a 3% reduction
The upgrade in NII (although not that significant) is still good news - BIRG tend to be conservative in guidance so their updates/outlook are fairly trustworthy - looks like everything is "steady as she goes" at present
Started: cooking, 27 Apr 2024 10:42
Last post: cooking, 27 Apr 2024 10:42
Hopefully yourself and grass will be long gone by then considering your shares closed at €10.32😂
Last post: samson3, 23 Apr 2024 22:25
Cooking or Cuckoo as JH calls him has always been something of an oddball! Never did know if he was Arthur or Martha!
You should relax Cooking, let the intellectuals do the driving and you sit back and enjoy the ride. Stop kicking above your weight! You have never known when to take your chips of the table and when the SP blows cold you get into a right mess. If your average holdings price is above E10, take your chips off the table and go light a candle to the bank who came to the rescue with this share buyback. No one wants to listen to your whining post share buyback!
Started: Observe1, 22 Apr 2024 10:09
Last post: johnhume, 23 Apr 2024 11:13
Observe,
I hear what you are saying and do not expect 24 profits to exceed 23. Commercial Property was hit in last quarter of 23 and feel this has further to fall. Question is what is the Banks exposure here - I recall reading in 1 of their statements their exposure was 60% to value which serves as a cushion.
The catalyst for BIRG will be if they announce a further buy back of 480mill ( bal of 1 bill announced at 22 agm) with the H1 24 results which would result in s/holding base being reduced to c 955/960 mill. Adopting today's makt cap of 10.6bill gives a SP of over €11. would also like to see a PBT fig of 1bn plus with H1 results which would u/pin sp.
Excellent summery on the share buyback status @JohnHume.
If your call on timing of completion is right then the SP will remain firmly underpinned, for now.
Headwinds are growing however and once the underpin is completed, beware. At European and US bank level there appears to be pressure on the lending margin, the mainstay of banking and definitely so in the case of the Irish banks. For some reason they (Irish) have been able to get away with continuing to pay zero on call funds and for now appear to have been prepared to partly negate the full hike in lending rates, in particular to mortgages. This game in the US is about to break out, with massive backlash on zero bank rates when the curve is above 5% in the short end.
The other big issue is growth. No reason why BoI is going to outperform their performance in 2023. This year they do not and will not have a bump up from acquiring a good sized loan book. A net reduction of lending of E5b will not look pretty at the end of the year.
Started: Kenq2020, 22 Apr 2024 17:46
Last post: johnhume, 22 Apr 2024 18:19
Kenq,
simply means shareholder base reduced by c.16.5mill in 2024 through share buy backs.
Cuckoo,
" EVERYTHING when you equate COULD with DEFINITELY." Would you mind explaining what "reading between the lines" applies here. To me your statement could not be more explicit. It IS what it STATES and does not require referencing a dictionary or googling it UNLESS YOU ARE VERY BACKWARD.
You appear to have reached a stage when you are not looking into the rear view mirror you are reading between the lines.I have repeatedly posted that overlooking into the rear view mirror not good for one's state of mind !
" .. ....else here betting on no rate reduction in June " NOBODY has posted here there shall be no rate reduction.in June so why the gambling invitation ? While the odds COULD favour the scissors being applied in June ,with 6.5 weeks to go before June decision date I would be cautious about placing bets. If your gamble reaches too many ears in your influential IC circle you might see a little run on the Euro in f/x markets which in itself might scuttle your little foray into the gambling market.
A possible saving grace for you would be to encourage your IC influential mates " to read between the lines " which might result in a less severe run on the euro.
Can someone explain to my simple brain what the voting rights RNS means, has something changed? Thanks.
“It says EVERYTHING “
Now if you could read between the lines you would know exactly what I was saying Jon Jon
Take your time and work it out
Using a lot of capital letters lately johnny. That’s a bad sign
I’ll upgrade that to 100 percents(as JH says)
Anybody else on here betting no ECB rate reduction in June
Throw away that shovel quickly, cookie. That hole you're in is of ample sufficiency. 😂
Cuckoo,
It says EVERYTHING when you equate COULD with DEFINITELY.
QED.
Last post: Magoo6, 20 Apr 2024 13:08
Afternoon all. Starting off recognising that I know sweet FA….but here’s my tuppence on Irish Banking Shares. AiB sp is flying. Curious as to why BoI is lagging in market cap? A more cautious borrower and lender in ireland is both a positive (less bad debts) & negative (banks gotta lend for future earnings) - and assuming that interest rates unlikely to go below 2% in the near/medium it appears that there is good profits, good dividends to be made by all. Difficulties on the horizon - commercial real estate in ireland and abroad, the affect on Irish bank SP when a financial crisis hits in US (when, not if), markets view on other opportunities. Market cap on AiB seems reasonable historically. 15bn would be pushing it. A 12.5bn mc on BoI not unreasonable so 25% potential upside. Perm? A ruling on funds needed to be held against borrowing should see an upside of 30%. But…….what am I missing here?
Started: Kenq2020, 18 Apr 2024 05:03
Last post: cooking, 19 Apr 2024 19:20
It’s very clear Google ECB Crystal clear and you will see all the members of the governing council ‘s views
Let it go You loser
BIRG have bought back 16,176,435 shares as on the 18 April at a cost of €147,147,857. Average daily volume = 462,183 at average daily cost of €4,204,224.Balance available for buy backs = €372,852,143..
Between today and ex div date of 11 May there are 14 trading days so am assuming a buy back total of c 7 million shares at an assumed cost of little under €70 million leaving a balance of c.€300million for buy backs post ex div date. ie 30million shares approx to be bought back prior to release of H1 24 results in July so the buy back ante to be raised.
Divs applicable to c.23 million shares ( 16,176345 plus 7mill) = 13,905,807.
According To Christine Lagarde today - "Euro zone inflation is likely to decline further and the ECB MAY apply the scissors to interest rates if it's long standing price growth criteria are met ".
At the same time it's Governing Council is NOT PRECOMMITTING to a particular rate path " Lagarde said.REPEATING the Bank's most recent guidance.
Risks to the inflation outlook are 2 sided she said - upside risks include heightened geopolitical tensions as well as higher wage growth and more resilient profit margins.
So , Cuckoo, you may read between the lines, above the lines , below the lines or even the lines themselves but I for one cannot see any reference to it being CRYSTAL CLEAR that the scissors SHALL be applied in June with a further scissors application in July. Later I shall reexamine the comments of the ECB President and it's Governing Council through the eyes of an Eagle.
Interesting to note that AIB is now not far off Davy target price (about 8%) - however the current BIRG price is still way below their target price - looks like the momentum is with AIB at present.
Please explain where you got €14m figure from I’m not sure about it
AIB up 14.6% since going ex div.would be nice if BIRG appreciated 50% of that following ex div.
The 14mill saving on div payments going to reserves will help.
Started: cooking, 19 Apr 2024 11:54
Last post: cooking, 19 Apr 2024 11:54
ECB have now moved on to discussing weather to cut again in July
Started: cooking, 18 Apr 2024 17:53
Last post: cooking, 18 Apr 2024 17:53
Johnny I’d give that post 2/10
I think your mixing up cooking with cuckoo
Cristal clear Johnny cristal clear
Read between the lines Johnny How many times
Started: cooking, 15 Apr 2024 11:33
Last post: Joeoh33, 17 Apr 2024 21:05
What’s with the 5% drop?
GLA
Let’s hope you’re correct as usual!
Gone for a burton now means even Steven’s 🤔
The FED'S ongoing fight against inflation could take longer than expected with 1 FED Policymaker suggesting rates could remain at their current levels until 2025.
According to top ECB official prospect for use of interest scissors in June assumes no further set backs in the geopolitical situation affecting energy prices and other inflationary factors.
British price inflation slowed by less than expected to 3.2% in March when the BOE had forecast a drop to 3.1%. The BOE is likely to want more conclusive evidence that a sustainable return to the target level of 2% has been achieved before they pivot to further use of the scissors.
So the Cuckoo is 100% certain that the scissors will be put to good use by June 6 following ECB meeting. My feeling ,as it was towards close of 23, is that it is even steven at the moment but if the geopolitical situation deteriorates , as mentioned by ECB official, the scissors may not be used in 24.
I am sure the Board will be delighted to see you are finally converted to Inspector Clouseau's philosophy with more visionary use of the front window and less of the rear view mirror. Your concern for a fellow poster is very touching and heart warming. It is so heart felt would not be surprised if you went wailing to Mama. However our fellow poster may take comfort when BIRG hits 10.5 or thereabouts before the scissors is plunged into the interest heart.
Good job nobody remembers my “she will > €10 by the summer “ disaster! Ah well this old FKIR never fails to disappoint…..
GLA
JH You predicted interest rates were gone for a burton you didn’t clarify uk ECB or us.
I posted last October rates (ECB) would be reduced in March/April I was premature it will 100 percents be June !
Finally it’s not fair when dealing with a fellow poster with limited intelligence to stop/advise him not to sell at €10.12 when that was his wish
Started: StickyToffeePudd, 10 Apr 2024 12:16
Last post: Greengrass53, 15 Apr 2024 11:22
Thanks Ashton. I was confusing the E392 with shares.
Cheers JH. Correct as usual
So, Cuckoo, are you advising the board that you have graduated to macro management with the micro stuff for the birds.
Yes BIRG have stated they are allocating 520mill to buy backs so some posters are interested how this progresses with the hope this will be concluded prior to release of 2024 H2 results at which stage the big question is whether they will allocate the balance of 480mill towards additional buy backs in the run to 23 December 2024 ,in line with AIB's 2024 buy back programme, and which they received shareholder approval to do at 2023 AGM.
As regards buy backs on 12 April read all about it on monday's RNS.
GG,
I reckon just over 392mill ( as of evening of 11 april) still available for buy backs so no additional zero.
Thanks Ashton. A long way to go yet which is good.
Ye need to realise the bank have agreed to buy back €520m worth of shares and that’s exactly what they will do . No need to micro manage it
I think the figure of 392M is the amount of funds still available, was €500M, spent just over €100M. That's how I think it is, please feel free to correct my interpretation.