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I'm hoping for something better than that. Didn't they base things on a gold price around about $1930?
Seeing the share price drop a bit this morning (again!) hurts a bit.
I know they have said about not paying as much , percentage wise, in dividends, but we could do with something, especially as the share price seems to be struggling to even get to a quid and hold.
Maybe a little special dividend as a thank you to the LTH and to celebrate the waste removal coming to an end?
We always seem to be waiting on the next quarter or the next RNS --------and I'm hoping the next one will be a bit better than "Steady as she goes" and the share price will start to move upwards.
Major European stock markets traded lower on Thursday's premarket amid earnings reports from the area's major banking institutions.
Earlier, Deutsche Bank reported a fourth-quarter net profit of €1.3 billion, beating expectations and providing some relief for shareholders. Besides, BNP Paribas, ING Group, and F. Hoffmann-La Roche also reported financial results.
The DAX lost 0.36% at 8:03 am CET, while the CAC 40 fell 0.37%, and the FTSE 100 declined 0.11%. The pan-European Euro Stoxx 50 inched down 0.60% a minute later.
The euro was down by 0.11% against the dollar at 8:05 am CET, selling for $1.07963. In comparison, the pound lost 0.12% to go for $1.26597 at the same time.
Baha Breaking News (BBN) / JG
Gold currently $2043.84
I do not think the market is fickle. There is lot of stress, and the market is messy
Mounting commercial property losses at two overseas lenders within 24 hours triggered a sell-off in local bank shares in USA, as wary investors brace for an uptick in bad loans tied to the troubled US real estate sector.
Troubled Real Estate, and where have I heard that before....and then we have Chinese real Estate and Developers, LOL
Not to mention countries defaulting, or "restructuring their foreign debt"
Tesla is being exposed for what it is, a lot of hype, and an exorbitant P/e ask....
The pigeons are coming home to a mess.
the gnome
Job gains for January missed expectations.
So Gold is now favoured as a safe haven.
A very fickle market, all the traders listen to are short term trends.
Gold just spiked to $2051 ----Has there been some news?
Still looking for a way to play the coming devaluation.
how Sawiris is positioning himself - and if Centamin is to benefit or face unforeseen issues. The black market vs official rate is just massive!
https://www.bnnbloomberg.ca/egypt-billionaire-urges-big-devaluation-and-warns-of-disaster-1.2028178
Egyptian billionaire Naguib Sawiris criticized delays in enacting a long-awaited devaluation of the pound, suggesting authorities match the spiraling black market rate to end the nation’s chronic foreign-currency shortage.
Postponing reforms is “a disaster that will increase the extent of the critical situation we are in,” Sawiris said in an Arabic-language post on social media platform X. Egypt’s pound has plunged on the parallel market to 68-70 per dollar in recent days, leaving it more than 50% weaker than the official rate of about 30.9.
“The right way is to start from the black market rate and then it will go down gradually, so everyone would agree on selling their dollars through the official channels if the two rates became equal,” Sawiris said.
Most analysts expect Egypt to carry out what would be its fourth devaluation since early 2022 in the first quarter of this year. But Sawiris, who’s ranked as Africa’s seventh-richest person on Bloomberg’s Billionaires Index, suggested Egypt needs more than gradual adjustments to resolve the crisis.
“Any attempt to solve the dual exchange rates by offering the dollar at a lower rate than the black market won’t be successful,” Sawiris said.
The previous run of devaluations has already slashed the pound’s value by half, roiling businesses and consumers alike in the Middle East’s most populous nation. Another move would fuel a further painful surge in inflation, which recently began cooling after hitting a record 38% in mid-2023.
To hedge themselves against the devaluation-inflation spiral in the country, local investors have been flocking to the stock market. The benchmark EGX30 index rose more than 18% in January in dollar terms, making it the world’s third best-performing stock exchange, after Argentina and Nigeria. Derivative traders have meanwhile been ramping up their bets on a devaluation through short-term non-deliverable forwards.
Hopefully 2.5c. Which would leave the annual dividend only halved in a couple of years.
Major European stock indexes traded flat to lower during the premarket session on Wednesday as all eyes were focused on the fresh reports on retail sales from Germany and Switzerland, as well as the German unemployment rate and inflation, scheduled for today. In business, Banco Santander, SA, and Novartis released its financial results for the fourth quarter of 2023.
The DAX and the CAC 40 were flat at 8:00 am CET At the same time, the FTSE 100 dropped 0.14%, while the Euro Stoxx 50 declined by 0.6%.
The euro lost 0.27% against the dollar at 7:58 am CET, to sell for $1.08152. Simultaneously, the British pound fell by 0.21% compared to the greenback, trading at $1.26698.
Baha Breaking News (BBN) / JJ
Happy hump y’al
Forecast Dividend anyone? Thanks!
Equities in Europe traded mixed in the premarket on Tuesday in anticipation of the newest update on Germany and the Eurozone's gross domestic products (GDPs) and the United Kingdom's housing prices and mortgage approvals.
The FTSE 100 rose by 0.43% at 7:47 am CET. At the same minute, the CAC 40 went up by 0.35%. Meanwhile, the DAX and the Eurostoxx 50 stood flat at 7:48 am CET.
The euro lost 0.13% to the dollar at 7:50 am CET to sell for $1.08169.
Baha Breaking News (BBN) / JR
Gold currently $2034.66
Egypt has asked the Houthis to focus attacks only on Israeli ships, "Al-Araby Al-Jadeed" reports.
may Sisi keep his promises , and may Allah move the sleep from our eyes , our enemies are not our friends , to be mistaken is to be wromg
https://en.globes.co.il/en/article-egypt-asks-houthis-to-attack-only-israeli-ships-report-1001468870
That tarriff you mentioned from Trumpeter is not 10% .
Its 60 %, bigger and better from trump.
The market ,in fact no one will like that.
Nixons executive order did not last out a year, it caused dollar exchange rate problems, you really have to wonder what planet they are on . Far far away 10 million light years away , ;-)
Out of various articles about Egypt over the weekend and these two stood out.
The importance of good monetary policy and a government spending within their means is the take-away I got, neither of which a decade of Sisi's rule has achieved!
Jan 28, 2024
Left with few options to preserve the value of their dwindling savings, some Egyptians have tried to make use of the rapid inflation by buying goods to resell just days or weeks later at much higher prices.
“I bought this Philips iron earlier this month for around 2,900 pounds. I didn’t use it and went back to return it about a week later. The shop owner said he would take it back for the same amount of money I had paid, even though he had the same one displayed in his window for around 1,000 pounds more. I didn’t think it was fair, so I decided to sell it on Facebook. I managed to sell it about two weeks after for 4,300,” said Ali Osman, 45, an Egyptian father of three.'
https://www.thenationalnews.com/mena/egypt/2024/01/28/egypts-new-year-starts-with-steep-price-increases-as-economic-troubles-mount/
Sunday 28 Jan 2024
Over about a month, the purchase price of 21-carat gold has soared by 21.5 percent (or EGP 675), reaching EGP 3,825 compared to EGP 3,150 on 1 January, with the gold pound surpassing the EGP 30,400 mark for the first time.
Wassef added that gold prices are influenced by global precious metal prices, the exchange rate between the Egyptian pound and the US dollar, and supply and demand dynamics.
https://english.ahram.org.eg/News/516694.aspx
Donald Trump wants to impose a 10% tariff. Here's what happened when Nixon tried the same thing.
https://uk.finance.yahoo.com/news/donald-trump-wants-to-impose-a-10-tariff-heres-what-happened-when-nixon-tried-the-same-thing-140002092.html
Major European stock market indexes predominantly faced losses during premarket trading on Monday. Investors are anticipating the upcoming release of the latest GDP figure, scheduled for Tuesday.
In business, Europe's largest airline group Ryanair Holdings Plc and Dutch electronics company Philips N.V., have both recently published their financial reports.
The DAX decreased by 0.23% at 8:07 am CET. The Euro Stoxx 50 lost 0.06%. The FTSE 100 declined by 0.06%. At the same time, the CAC 40 was flat.
The euro was 0.07% lower against the dollar at 8:08 am CET to sell for $1.08474. The British pound rose 0.08% against the greenback at the same time, to sell for $1.27115.
Baha Breaking News (BBN) / RR
Don’t shoot the messenger!
Major stock market indexes in Europe traded higher in the premarket on Thursday. Investors are waiting for new GDP print set to be released on Tuesday.
The DAX decreased by 0.23% at 8:07 am CET. . The Euro Stoxx 50 lost 0.06%. The FTSE 100 declined by 0.06%. At the same time, the CAC 40 was flat.
The euro was 0.17% higher against the dollar at 8:08 am CET to sell for $1.09843. The British pound rose 0.27% against the greenback at the same time, to sell for $1.27688.
Baha Breaking News (BBN) / RR
Happy Monday y’al
Gold currently $2030.52
While taxes are rising for people like you and me, it's never been easier for the rich and powerful to avoid them. In just the last few days, it’s been revealed HMRC hasn't charged a single company over tax evasion, despite new laws, while Overseas Territories aren’t reporting firms using them as tax havens, and just yesterday it was revealed two thirds of the the UK's richest earners paid less tax in 2023 than in the year before. [
Billionaires are being let off the hook through legal tax avoidance schemes, and getting richer and richer, while we make up the difference. It’s just not right. Whilst our schools and hospitals fall apart, HMRC has chosen to go after… ordinary people making a little extra money selling their clothes online. [3] And the Government are even talking about more tax breaks, which will benefit the wealthy. [4]
Enough is enough. It’s time we shut these schemes down the Government wants a boost before the election, and polls show the public would prefer services to have better funding over yet more tax breaks. This is our chance to pressure Jeremy Hunt to shut down legal tax avoidance schemes, so we have more money for our NHS and public services.
while taxes are rising for people like you and me, it's never been easier for the rich and powerful to avoid them. [1] In just the last few days, it’s been revealed HMRC hasn't charged a single company over tax evasion, despite new laws, while Overseas Territories aren’t reporting firms using them as tax havens, and just yesterday it was revealed two thirds of the the UK's richest earners paid less tax in 2023 than in the year before.
https://act.38degrees.org.uk/act/hmrc-tax-advoidance-petition
Hi Tony,
This will just increase increase buying on the black market, there are truck loads of smuggled illegal and unregulated artisanal mined and processed gold coming into India every day and the police and customs officials are quite happy to be bribed to look the other way!
Looks like Kitco blocked that one. A shame as it reports jewellery buying has dropped significantly in the India market and jewellers are waiting for lower gold prices to stock up.
Reuters https://www.reuters.com/markets/commodities/india-raises-import-duty-gold-silver-jewellery-findings-2024-01-23/
* Explains Wednesday’s surprise price increase.
(Not that others haven’t said the same just that this article further confirms.)
Happy Saturday y’al
https://citywire.com/funds-insider/news/ftse-miners-up-on-china-stimulus-chrysalis-soars-15-as-klarna-signals-ipo/a2434682
The article in forbes also states ,coinage is not able for grabbing as it is legal tender. Bullion ie gold bars are.
Massive disparity between gold held by Western central banks compared to Chinese & Russian central banks
https://www.youtube.com/watch?v=61WwPCSYt18
Governments change laws from time to time, and yes it's possible that under the right circumstances some governments might try to confiscate their citizens' gold. But it is important to realize that the motivation for confiscating gold which existed for FDR in 1933 has largely disappeared.
Back then the U.S. was still on the gold standard (the U.K. had been forced off 18 months earlier). So seizing private gold and then devaluing the currency was in fact a 1930s version of quantitative easing.
Saving our banks from their stupidity still means swelling the money supply, and hurting cautious savers by devaluing their wealth.
https://www.forbes.com/sites/greatspeculations/2013/04/05/governments-still-heavy-handed-80-years-after-fdrs-gold-confiscation/