The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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. 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.
Italian bank
Ebbs and flows?
What the hell just happened?
Sorry PGee. I don't see it the way you do. Why would someone undermine their own profit if they bought loads cheap early on. Why not do like Ross and sell at 35c. They'd have a lot more than 250mil. If they really wanted another 14% of the bank and had the cash to do it then they could easily have bought a bucket load at 16c a couple of months ago knowing that Noonan would never sell at that price. I don't think my argument that this is just standard market fluctuation is going to convince you so we will have to agree to disagree on this one. Either way we both want the same thing and i agree with you on Boucher. He was very strong today and reading between the lines laid down a positive marker for Bkir into the future.
The people who might be doing this have very deep pockets, they bought lots of Bkir very cheap, they obviously don't want to loose their holdings so they are flipping them, I don't think there is actually a man sitting at a desk doing all this but some sort of programme is set up to achieve the price erosion that is tweaked as events unfold, like Brexit, bad news etc.... it costs some money to do this but not a lot, that's why on big volume occasions the price rises and is later dribbled down with small trades.
Wasn't it positive the last time as we'll! ! As for the other two shares go up and down all the time all by themselves
Very positive for BKIR
State putting a panel of investment bankers together to explore the sale. Interesting what valuation the put on it. I think Noonan was aiming for 12 billion back in the day (probably the reason why he didn't sell BOI)
That's what I was saying. If he gets north of 30 he may well sell. So what's the point of anyone manipulating the price around 20c or even lower. With Shane Ross at the cabinet table there isn't a hope in hell they will sell at a price like that. Manipulation cost money. If there is that going on its not to buy the 14%.
John, I beg to differ re Noonan. He and the rest of us didn't think we'd see the sp plummet from a mulligans special of .40c to .17c. I'd say if it goes .30c or north again he'll sure weigh up his options. What's the point of the govt holding 14% if in profit unless for strategic reasons
That would assume that noonan is a distress seller willing to take any price for the shares. If Noonan did want a sale, which there is no sign that he does, he could have sold above 30c and actually made a profit. The other thing is.. to drop the price there needs to be more shares offered for sale than there are buyers on a given day. Would this guy not be out 250m already selling below the bid price trying to gain the 14% ?
Basically if the value of the bank is kept artificially low over an extended period the less Mr Noonan can get for it. Today we are valued at 7bn @ 21 cents, real value most agree should be about 25/26 cents per share or about 8.7bn, a difference of 1.7bn. If the someone who was depressing the sp can buy that 14% knowing that the sp will rise to the actual value without their interference they stand to make 250m on that alone. Something has been attacking the sp and I can only think of that or a full takeover, which is unlikely. IMO.
pgee. Can you explain your opinion on the 14% on the cheap please. no sure i get it.
Do you mean would a dilution help? 10 to 1 say, yes probably but at the right time, like when the div is declared. However I'm convinced it's the 14% on the cheap that these guys are after, it's easy money!
Do you think its a market cap issue?
Volume is good, only thing that stops the rats nibbling at the SP. this share is trying to go up but the concerted efforts scupper it all the time. Boucher very good before Dail committee today, this is a good bank and deserves to be doing better.
Some big early trades Volume high on ISE
Yep man I did agree with you the other day. I was following the trading closely and Dublin(ISE) is definately messing around. Worst performing the last 3 days!!! So much for the £ association its more to do with momentum.
Didn't take them long to wind the gains back, worst performing bank share today so far! 20 soon.
yes you are right the Black Economy in Italy is probably 1/3 of the total. for instance if you buy something large two,prices are quoted with and without sales tax. The Mafia problem is colossal.A huge proportion if bars and restaurants I Rome is owned by THEM. remember there is the Mafia itself. In Naples the Gomorroh, then in the South the 'Ndrangeta candy the Sacra Coronata ( not sure of spelling). Some have infiltrated into the North and worse still abroad. It may be that they constitute 1/3 of the economy so with the black".............. Well you can see the extent of the problem This year many have been arrested but like the Gorgon's head if you strike one off more appear. And look at corruption in the EU itself. Jumpers still not stopped for what he did in Luxembourg, the accounts have not been signed off in 22 years. The UK is well o ut of it
That Martin1 is based somewhere around London or its vicinity when talking about Brexit and the continuing investment that he sees from a European car maker most likely Mercedes. That is all well and good and most probably the decision to invest in a new facility was made long before the Brexit decision. Audi were established here in Torquay when I first landed with a neighboring branch in Newton Abbot as well as a large presence in Exeter. Now we only have Exeter or Plymouth to call on when you really need help that is beyond local resources. People in this part of the world look at London as no longer belonging to the United Kingdom - taxi fares are five times at least what you would be charged here and golf club membership on any course worth playing is a joke much like many of the Irish courses which I used to play on a regular basis where you are now expected to buy a share in Waterville for instance is 170 euro's a round I was informed last year. No wonder they are looking for business. Mr Mac's contribution with regard to Italy should not really surprise anyone - I read the article with great interest because I really do enjoy reading The Independent because of the freedom which they express in their prose. With regard to Italy what has changed? There has always been corruption of public officials and political instability and then there is the Mafia, which is a problem that Europe should have addressed or started collectively to tackle long ago. From my recollection, Italy has the largest black economy in Europe and thanks to the complacency of the officials in Brussels no attempt has ever been made on a continuing basis to address a lot of these problems which really do impact on peoples lives. They are far too busy deciding what the real shape of a banana should be and only in their spare time do they address the problems of the people who elect them to their sinecures - usually when they are seeking re-election. I am not at all surprised that people are voting in protest against these people who do not hesitate to reward themselves whilst claiming generous expenses - a cold breeze on their necks is long overdue when you look at the employment figures across Europe - a shake up or even a mild tremor would do them a world of good. Good luck all.
The view in Europe quite different from your views. I live in Italy. In December is the Itslian referendum. There is no way Renzi will win he will go and a shambles will ensue. there is no adverse reaction to us Brits. Five Star Movement want to do away with Euro and revert to Lire. Unfortunately they are quite mad having a 5 star mayor in Tome and it is not working. He has insulted the Vatican ( Grillo that is.) apparently not realising it is a separate country from Italy. Junkers is still not prosecuted for corruption. The accounts are now 22 year without being signed off! I think most ipg Europe is envious of UK.
Can only agree with Bruce Jamieson deal being done Where I am based Top Germany car Company has just moved site and money they have spent you would have to see to believe .just 30miles up road the have site that we thought could not be beaten Brexit where I'm based lots of talking but know holding back on Investments My believe if its good For G B can only good for my Homeland G L A
Senior politicians from many mainland european countries really ****ed off with UK. UK is going to be up against it in any negociations. European de facto rhetoric is outlining the hard line european negociating position in advance of article 50 being triggered. UK is fast becoming a pariah state within Europe. Borris, Farage and May are reinforcing this perception.
Hw will Put manners on german finance minister over greece