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How much capital surplus do you think they will have? From the share price action the market will be expecting very poor results.
Looking more like they will announce a buy-back with the Results, with the SP down here , using their free-capital surplus
Https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.sharecast.com/amp/news/broker-recommendations/jpmorgan-reiterates-overweight-rating-on-prudential--15921774.html&ved=2ahUKEwjx37aUxdOEAxV1RUEAHYVLAtMQFnoECA8QAQ&usg=AOvVaw1LCJmBC7RDS_Cp2yRSoBuv
JP Morgan also think there's a lot of upside here!
Another point…does Prudential become a takeover target if the price falls much further?
Have to agree that does seem fantasy at £16.40 with the state of China and the world in general!?
Barclays might have it totally wrong, let's face it a lot of broker targets are pure fantasy.
I'm hoping it's because Barclays see the business as sound and profitable. I think it's being caught up in the general stock market sell off in Shanghai and Hong Kong, which inevitably affects it on the LSE. Let's hope we get a turnaround soon. Maybe a good time to buy?
Need some good news from China, which doesn’t seem to be forthcoming anytime soon. So strange why Barclays have such a high forecast?
I'm sure it can but hopefully not. With Barclays calling it at 1640p, it seems like a bargain not to be missed or is that wishful thinking?
Can it go any lower?
It's a ghost town on here. Very boring.
HSBC Results today -
"$3bn charge linked to the lender’s stake in the Bank of Communications in China, where lenders are struggling with a downturn in the country’s real estate market.
That was despite CEO Quinn having suggested last quarter that China had experienced the worst of the crisis.
“I did say last quarter that I thought the market had bottomed. I still believe that,” he told a press briefing on Wednesday morning. “I also said last quarter that it will take a few years for the market to work its way through the current challenges. So I didn’t say challenges were over.
“But I did believe the activity levels in the commercial real estate market, the valuations in the commercial real estate market in mainland China had bottomed, and that what I saw was a progressive and gradual recovery in the market.”
“Indeed, in the group’s own outlook, HSBC is forecasting slow growth for the first half of the year, followed by a gradual recovery, while inevitably the parlous state of the Chinese economy in general and the real estate sector in particular are ominous headwinds.”
The interest rate reduction will hopefully give the Chinese and Hong Kong bourses a boost which should in turn help Prudential. I'm holding for Barclay's predicted 1640p shareprice!
Lower interest rates than anyone predicted and Barking has reiterated overweight 1640. Things moving in right direction...
" China cuts mortgage-linked lending rate by record amount to aid property market"
Five-year loan prime rate reduction unlikely to offer imminent relief to flagging home sales, analysts say
The People’s Bank of China announced on Tuesday that the benchmark five-year loan prime rate, which affects borrowing costs for households, was lowered from 4.2 per cent to 3.95 per cent.
The 0.25 percentage point cut was the largest reduction of the benchmark rate since it was introduced in 2019 and exceeded analysts’ expectations of a 0.1 percentage point cut.
The one-year LPR, which is tied to business loans, remained steady at 3.45 per cent.
https://www.ft.com/content/a3ba45ac-8b25-437f-92e7-ee43e760d551
China lowering interest rates would certainly help. Reported cyber breach is a worry though.
Here recently in the hope of doubling my money! Barclays seem confident, having given a recent overweight assesment with a target price of 1640p. I'm hoping the Chinese print more money to make the year of the Dragon a bumper year for their economy and stock market helping Pru in the process.
Today is FEB Option expire day...i suspect some closing Options have resulted in buying on the side of those bets
need to see now if the mood now changes to buy Calls
Dinoken
I dont take any notice of Brokers forecasts ... waste of time IMO and best avoided IMO
Interesting comments from Pokerchips. Do you think the published control propaganda extends to PRU broker forecasts ? Sp 800 going nowhere, Barking forecast up from 1610 to 1640 !!!
BlahBlahDoh
secret overseas police stations, mobile execution vans , people locked inside their apartment blocks with insufficient food during COVID,threats to stock market traders, daily social media scrutiny and published control propaganda ...the list goes on ..... behavioural control without limits
suggests a severe insecurity within the CCP and even great fear amongst CCP members ordered to achieve these controls
Did you see that story about a British guy living in China who disappeared in 2018, then just last week the "communists" admitted they've been detaining him for all this time, on something amounting to espionage charges. They are supposed to be a superpower yet act like a criminal banana republic - viciously backward: no respect for rights or law whatsoever, just mafia rule stamping on people mercilessly
Going against you ...not as easy as hoped !
" Shares in China have jumped as hopes build that Beijing will take more forceful action to stem the recent stock rout.
The CSI 300 index of leading Chinese stocks has jumped by 3.5%, while Hong Kong’s Hang Seng is up 4%.
The rally came after Bloomberg reported that regulators plan to brief President Xi Jinping on market conditions and the latest policy initiatives as soon as today "