The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Just catching up on the news, this'll be the problem.
"Labour plans publicly owned renewable energy giant"
Maybe it's because c5% yield isn't so attractive in the coming high interest period.
Maybe the prospect of a Labour govt. & nationalisation?
Mrmarket, Nope !! Guess their update spooked some bots..40p p/sh H1 with Wind Energy down 13% due to weather (not enough wind), SSE maintains FY Forecast of 120p p/sh though..
Bought some more at 1562.35p maybe premature but SSE is solid and well in the Renewables space.
What’s happening here? Gl
Any Interactive Investor Clients out there like me who use their App and/or Website to trade and review Daily Movements, etc... ?? Have you noticed the Closing Daily Movements' figures and %'s, as fed to ii by Morningstar, are wrong ? BP for example shows down c 10.5p today !! If only !!
I've complained and complained to ii but they cannot give any timetable for correcting this basic error, obviously afraid to upset the mighty US Morningstar who ii pay for this shoddy service !! Amazingly they hadn't noticed this error themselves until I complained !!
Can you fellow ii clients also complain please because high numbers will get this basic kindergarten error corrected sooner.
It’s a bit all over the place atm. Nearly jumped back in at £16.98 yday am, then headed up to £17.30s. It’s still a rock solid share with a decent dividend that is dropping into the account over next couple of days. Think I’ll grab a chunk if it lowers to £17 again.
So much for JPMorgans' reputation given the sp down 0.8% today.....!!
The shares got shorted before the scrip purchase otherwise the scrip purchase would had increased the price to over £22, its allowed legitimately allowed under "proprietary trading" rules. Market makers & the running bank all collaborator & its all legitimate.
Still many good ratings for this share, but seems to be taking a breather. Scrip Div RNS today for 18.25m shares c 1.7% share issue will mean equivalent cash saving so couldn't be reason for drop today ??
Damn someone just bought big took out my entire holding sold @ limit. Went all the way up to 1841 damn...
Luckily all my holdings are protected from CGT as they are held under an ISA. I advise all investors to utilize their £20,000 annual allowance its a great way to build a advantageous tax exempt portfolio.
I have been trying to research how much annual revenues UK Government receives annually from SDRT however I don't seem to have much luck finding any information on it online. I know UK Government receives £14billion annual revenues from Land Stamp Duties. I would had assumed with the amount of trades investors do in the UK SDRT on shares would generate more??
Okay Clued, thanks for the explanation.
Whatever the jurisdiction, CGT in relation to shareholdings, particularly longer-term ones, can become a complicated issue.
ATB, Mike.
Apologies MikeM14, I live in Ireland where FIFO still operates except for various rules. Had no idea UK had changed as don't so UK tax returns.
Clued,
"you do know about FIFO treatment re shares sold under CGT ?".
Where are you getting your information? It's not been first in, first out, for over 14 years! The present arrangement ("Section 104" holdings) has been in force since April 2008. If you build up a holding in one company over various tranches of buying at different times, then you work out the "average" cost over the whole pool of shares, and use that to work out any gains when you sell. The exceptions are the "bed & breakfast" rule and the "same day" rule. It's all explained in the HMRC website.
https://www.gov.uk/tax-sell-shares/same-company
Mike.
LondonCentric, re your holding of original shares at £11.30, you do know about FIFO treatment re shares sold under CGT ?
SSE saw this crisis coming & positioned itself well, you have to respect the Scottish they are pragmatic & logical in business. SSE got rid of fossil fuel generation decades ago (still has gas gen legacy capacity has the grid needs it). It is way ahead of its competition & has knowledge of battery storage technology from decades ago which it invested in.
So SSE is a safer place for your money as it is possitioned for growth & innovation. I got 2 positions, one which i bought many years ago at @ 11.30 which I dont sell & another bigger position where I buy & sell with the volatility.
I certain did and went from 16.70 to 18 at which point exited. Very happy with that profit in 2 days. Perhaps the Investor days have highlighted some impetus as well although fallen to 17.62 at close. Volatility is where the gains and losses are, its just judging when the ins and outs are right and when you are happy with your P&L.
The appointment of Lizz is good news for SSE as she is against a windfall tax. Clarity on her energy policy seems to indicate she will give energy producers loans to subsidize the price of gas & electricity so up until the point SSE aggrees to opt into the voluntary scheme of long term fixed price on renewable energy it will realise huge profits.
The only danger I can see now is the risk of a Labour government & if that happens god help us!
Fair enough Deadly4U, agree that Cap Gains should not be included in Earnings for P/E Calc. Truss's treatment of Energy bills boosting the sp today....onwards and upwards !!
Spark
Buy lol
Hi Clued, SSE sold it's stake in Scotia Gas last year which bumped up earnings, SSE's core earnings are still expected to grow this year, but if you adjust the earnings without the SG sale then current P/E would be around 18. That's why using P/E without adjusting the earnings for exceptional items is somewhat misleading :)
Sparky300, I still hold and much short-term depends upon effects of Truss's action on elec charges.....
Had a good few months with this share , up and down, but really can’t see where tomorrow’s opening price will settle. Sorely tempted to jump back in and purchase especially with the current positive broker recommendations calling over£19? Any thoughts?
Hi Deadly4U, I simply used the LSE data as follows to get the PE Ratio:
Shares in Issue 1,068m
Market Cap. £17,975m
Market Size 1,500
PE Ratio 5.860
Earnings 287.30
Dividend 82.10
Yield 4.877%
So a Forecast PE of 15 seems unreasonably high, why such a big drop from 5.86 ?