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The good news i think and i hope, is that we’re seeing the “norm” in markets when sectors have issues eg stocks down and gold up for example-
the horrible panic times like 2008 and covid march2020 when everything went down together in a rush for liquidity !!! Hopefully short lived
Hi Steve, all throughout this week and last when gold got a mention on the Baha news site there was a crypto news article as well, bitcoin was hitting highs concurrent with gold.
2 banks have had issues for different reasons and it’s good to see the regulation bought in is being acted on :-). Traders making a packet- nothing like 2008- completely different when the banks caused a crisis for known reasons that crashed stocks and crashed gold
You are probably right. Mr Tibbles.
I also wonder if at last the regulators have been given more teeth.
Especially now the Banks are in serious trouble again.
What is interesting also is how BTC and other major crypto has performed comparatively well as have tech stocks... major players have different indices I accept, but interesting nonetheless.
Gold price in euros skyrocketed over 3% on Wednesday, the highest since April 2022, as investors turn to the precious metals market amid the ongoing crisis surrounding the collapse of the Silicon Valley Bank and uncertainty tied to Credit Suisse.
Spot gold advanced 3.36% to sell for €1,833.7835 at 6:03 pm CET. The liquid gold in Swiss francs also went up 3.04% to change hands for 1,793.2144 at 6:06 pm CET. Meanwhile, gold in dollars traded 1.41% higher to go for $1,930.18 at 6:10 pm CET.
Baha Breaking News (BBN) / MX
Good luck to all holders tomorrow- and I’ll be ready to press the button as fast as i can if good- also depends, of course, on markets too plus gold - todays another reminder that cey is a stock and not gold itself - hence the SP
Fair comments Paul!
As we are all too aware there were far too many missed targets and unrealistic promises from Pardey & Youssef in the past!
It would be nice if the results were good and the price went up! How long is it since that happened?
Gold staying at this level or rising would help in the longer term-------and should bring lower costs and bigger dividends.
As I said recently, Martin Horgan could walk away with no loss of face, so Im guessing he is staying because he thinks he can improve things.
Boring but a bit better than "Steady as she goes" , should help bring the credibility levels back up a bit more.
Lets be honest, if he suddenly promised a lot, we would all be panicking!
Fingers crossed!
Best of luck y’al
Well gold has made it through £1600 for the first time ever and is now over two percent above the previous all time high. Hopefully ounces will be back up nearly 10% at around 440k and partly as a result costs not up much and maybe even down slightly in which case the news will be good unless the dividend hammers us, I am staying all in but then I am not a trader.
Patryk
Wishfull thinking the share price always falls on results day,thats why people have sold and we are now down despite gold price up again
Yep Mr T- same as I heard from a different source :-).
RIYADH, March 15 (Reuters) - The head of Credit Suisse Group's largest shareholder, Saudi National Bank (SNB) (1180.SE), said on Wednesday it would not buy more shares in the Swiss bank on regulatory grounds.
Credit Suisse's biggest backer says can't put up more cash; share down by a fifth
"We cannot because we would go above 10%. It’s a regulatory issue," SNB chairman Ammar Al Khudairy said in an interview with Reuters. The Saudi bank holds a 9.88% stake in Credit Suisse, according to Refinitiv data.
https://www.reuters.com/business/finance/credit-suisses-saudi-backer-happy-with-transformation-plan-doesnt-think-extra-2023-03-15/
Back to CEY... as per my norm, I won't be in for tomorrow's RNS, like many here, too long in the tooth and been whacked at RNS in the past! Will be ready to hop back in tomorrow on any rise and hopefully only miss out on the initial jump at open if there is one.
So, any views here on what is likely to come out in the RNS other than the obvious?
CSwiss leverage ratio still good, no liquidity issues, different issue to SVB, confidence issue now... not like 2008- regulatory changes since 2008 crisis in play hence Saudi couldn't step in.
Mr Bond,
Possibly some US suppression or manipulation to allow the closing and opening of trading positions to try and be on the right side of the boat?
Always euphoria lol- gold will pullback as hysteria subsides - CS will be fine, banks will be fine - tomorrows RNS important - the brave will remain in, some will bail before day end on fab profits again today too :-). Then if good RNS tomorrow at 07:00 and markets ok incl gold- go back in on any rise
Looks like market is expecting the results to be good along with the higher Gold price, this will explode if that’s the case.
1930!!!!!!
Got that real gut feel now that CS is pretty much a gonner and gold price is being supported by the too big to save possibility - and hence all mayhem and the collateral damage this could cause.
Credit Suisse’s share slump, which fell as much as 24%, has intensified fears of a 2008 financial style crisis, according to Fawad Razaqzada, a market analyst at City Index and FOREX.com
“An index of European bank stocks fell 5%, while the Euro Stoxx 50 volatility hit its highest since October. You get the picture: investors were panicking,” said Razaqzada.
“Bloodbath, if you will. This comes fresh on the heels of a broader industry selloff following the collapse of Silicon Valley Bank. Concerns over another 2008-style financial crises have intensified.”
https://www.proactiveinvestors.co.uk/companies/news/1009062/ftse-100-lower-lloyds-and-hsbc-tumble-as-credit-suisse-shares-suspended-1009062.html
I got concerned when Wall St opened.
the Gold dropped $6 in 6 minutes ,but now has stabilised to 1923.
I am indeed a cheery soul, and with more good news; gold has hit an all time high today … in sterling, that counts for our sterling profit, the miners challenge remains costs especially translated into sterling so as usual I shall be watching them keenly on Thurs, but lovely to see gold finally nearing £1600
Dear Steve. What I have lamented losing on Cey is that my shares were worth over a million, but are worth half that now, not on the cost, and thus prevented me building along with Hoc even worse. I started buying Cey in the 50’s and have added when they have fallen to the 80’s as looking back you can read, I have also bought some more expensively hence the 114 average(103p in the isa) Happy to send you my broker notes and photo which will show my nose is actually quite short even a bit snub. And yes I very stupidly did sell a small percentage to buy Hoc and THS, Hoc was a terrible mistake mainly because of the Peruvian election a couple of years ago, but THS has declined less than cey (about 25% from my cost price tho added more cheaper) and is paying a lovely big divi today. Xx