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Started: IP3LY, 20 Jun 2024 08:50
Last post: onelongrunner, 20 Jun 2024 16:17
Nice bit of growth for future profit.
Supermarket Sainsbury’s has struck a deal to sell the bulk of its banking business to NatWest in a move that will see the lending giant take on around another million customer accounts.
The deal will see NatWest acquire £1.4 billion of unsecured personal loans, £1.1 billion of credit card balances and about £2.6 billion of customer deposits.
It comes after Sainsbury’s announced in January it was winding down its banking division to focus on its retail business.
Rival Tesco also offloaded most of its banking activities to Barclays in a £600 million deal earlier this year.
The deal is expected to go through in March next year and Sainsbury’s will pay NatWest £125 million when it completes to take on its core banking assets and liabilities, although the final consideration will be confirmed on completion.
Sainsbury’s said it expects to return at least £250 million in excess capital to shareholders after the deal.
The retailer said there would be no immediate changes to its banking customers’ terms and conditions, adding they “do not need to take any action”.
It added the sale does not include Sainsbury’s Bank’s commission income businesses, such as insurance, cash points and travel money.
Argos Financial Services is also not included in the deal.
Simon Roberts, chief executive of Sainsbury’s, said: “Today’s news means we will focus all our time and resources going forward on growing our core retail business.”
Paul Thwaite, NatWest Group chief executive, said: “This transaction is a great opportunity to accelerate the growth of our retail banking business at attractive returns, in line with our strategic priorities.”
“As well as a complementary customer base, the transaction is expected to add scale to our credit card and unsecured personal lending business,” he added.
Excerpt taken from: PA Media.
Started: checkricky, 17 May 2024 16:41
Last post: checkricky, 18 Jun 2024 11:57
The last 4 weeks have been a bit tricky for the banks due to the surprise election announcement and we know the markets don't like uncertainty and then the French stick a suprise announcement is is well, we are now nearing the final 2 weeks of election campaigning and then onwards to polling day results.
Once we have the election outcome it will not matter who wins as its back to the office as normal and the media will move onto something else as they have been doing for decades..
Hopefully that will give the banks a chance to continue it's up trend
It will not matter who wins the next General Election economic conditions have improved significantly and inflation is down so we will begin to see the benefits soon....
All political leaders know a strong economy is alway off the back of a strong financial sector so I think Great Britain will do well we just need a few more months to prove the worst is behind us no more covid and high energy cost due speculation..
I see the fud & hate spreading will continue with the greedy they will never be content with life.. However most investors are happy with the way things are improving... Yes NWG is in a much better place now than expected you will see in the most recent reported figures and results they have made the most profit since the financial crash in 2008 so the bank is in a much better position now...
Gov may continue to sell some of it's holding in a uptrend as the banks are doing really well in the current environment... Sticking to the current plan of offloading small amounts in an uptrend may save Gov from offering a discount to private buyers.
https://www.theguardian.com/business/nils-pratley-on-finance/article/2024/may/16/chancellor-ditch-natwest-retail-share-offer-not-needed
Started: Rishab, 11 Jun 2024 13:52
Last post: Babarusa, 12 Jun 2024 09:09
Down initially, then trailing lag up
Correct me if I am wrong with shares buyback the price should go up not down.
Probably dropping due to another share buyback, under 22% now
https://www.proactiveinvestors.co.uk/companies/news/1049551/government-sells-another-portion-of-natwest-stake-1049551.html
If labour comes in power would we see £2.5.
Started: NancyFancy, 29 May 2024 11:53
Last post: Powergirl, 5 Jun 2024 06:15
AbjectPerformer
You used the term voluntary. If your termination is “voluntary redundancy” you should read EIM13874 - HMRC guidance on Relevant Termination Awards.
The heavy hand of government casting around for someone to fleece will weigh even heavier on this if Starmer triumphs…and much the same for the utilities..ie: NG.
Don’t think Starmer can keep a lid on the politics of envy for long.
Blackrock increasing their position, they're not selling.
Thanks honest Bob.
I’m not quite on 50k so I’m guessing working unti end of tax year and putting all the excess in pension pot would be the way to go
I think that us right ie 20000 then subject to 40% and would gain that relief if put into a pension.
Whether to actually put some or all into a pension is another question and I think would depend on your personal circumstances and aspirations
Started: checkricky, 2 Jun 2024 09:57
Last post: checkricky, 3 Jun 2024 10:09
Good to see some positive shareprice action who knows we may see the 370p broker recommendation come true 👍
NatWest Group PLC's (LSE:NWG) £1.24 billion buyback of shares from the Treasury exceeded Peel Hunt analysts’ expectations.
They had initially expected just £1.1 billion in buybacks for the whole of 2023; today’s announcement has forced a rethink of the broker's full-year estimates.
“We view the larger size as a positive, perhaps especially as the parliamentary elections scheduled for 4th July could delay the retail offer,” said analysts.
They now expect £1.4 billion in buybacks for the year. Coupled with a forecasted £1.34 billion in dividends, total capital returns are expected to come to £2.74 billion.
“This estimate now appears conservative and is supported by the 1Q results, which indicate that capital generation within the group remains strong,” said Peel Hunt's number crunchers. “Generally, we view the progressive elimination of the UK Government's holding as positive for the rating of the shares.”
The broker gave NatWest stock a 'buy' recommendation with a 370p price target.
Shares were changing hands for 318p at the time of writing.
https://www.proactiveinvestors.co.uk/companies/news/1048865/natwest-capital-returns-estimates-increased-following-1-24bn-buyback-analyst-1048865.html?rel=scroll
Started: checkricky, 31 May 2024 10:10
Last post: checkricky, 31 May 2024 10:10
Gov selling another chunk of shares directly to NWG as confidence returns to the economy and the general election draws closer
NatWest said the share buyback will be broadly neutral for tangible net value. It continues to target a CET1 ratio, a measure of financial strength, of 13% to 14%.
"This transaction represents another important milestone for NatWest Group, building on recent momentum in the reduction of HM Treasury's stake in the bank," said NatWest Chief Executive Officer Paul Thwaite.
"We believe it is a positive use of capital for the bank and for our shareholders and represents further progress against the ambition to return NatWest Group to full private ownership."
https://www.proactiveinvestors.co.uk/companies/news/1048831/government-reduces-natwest-stake-by-another-1-24bln-1048831.html?rel=scroll
Started: checkricky, 29 May 2024 11:40
Last post: ElPadre, 29 May 2024 11:54
Great news if it's true and can be trusted, as best as I could see though the sources were not confirmed so fingers crossed but it definitely remains a worry
Labour will not be looking to impose any additional taxes on UK banks.
Well it makes sense for Labour to "not impose any additional taxes on banks" other than the main taxes already paid by banks currently corporation tax, the bank surcharges and the bank levy.
Labour and the Conservatives both know they have to be on the right side of the banks now. "Plenty of damage has been done to the banks since the financial crash in 2008 and Brexit and London which was the finance centre of Europe if not the world at one point". So now its time for the banking sector to get back on it's feet and regain lost ground.
It's time to understand things are now getting through to politicians, and they don't want to be seen destroying the banking sector by taxing the hell out of them anymore.
https://www.bloomberg.com/news/articles/2024-05-28/labour-not-looking-at-new-tax-raid-on-banks-to-balance-budget?embedded-checkout=true
https://www.fnlondon.com/articles/labour-to-shy-away-from-bank-tax-raid-in-pro-business-push-1ea41e5f
Started: IP3LY, 28 May 2024 18:30
Last post: Sparz, 29 May 2024 11:40
Yep. You'd think all parties will want to accelerate this to free up around $8.9Bn cash (based on about 33.8% holding of $27bn market cap at today's prices).. and use it to fund all the amazing ideas they have come up last 2 weeks of campaigning....
what could they do with $8.9bn .
“The government's plan to sell off the remaining shares in NatWest is on hold due to the General Election campaign.
This will be a huge disappointment to those who registered an interest with us.
We’ll continue to keep you informed as more information is released, or if the share offer takes place in the future.”
Excerpt from HL email this evening.
Started: checkricky, 23 May 2024 10:22
Last post: checkricky, 23 May 2024 10:22
Time for the buybacks to start hoovering up some of today cheap shares.
Started: checkricky, 23 May 2024 08:01
Last post: checkricky, 23 May 2024 08:01
NWG share sale on hold for now as Gov looking for a much higher price to exit remaining shares and currently will be fully focused on the General Election...
Started: Dinoken, 22 May 2024 17:58
Last post: beatrootjuice, 23 May 2024 07:38
Never really understand how this would have improved the SP. Why invest in NWG now if around the corner you can get a 10% discount? Surely the SP would just drift down to the offer price?
Porky
Like you, if there’s not enough interest they won't do it.
I originally thought they would launch this at the same time as the British ISA but i still think this retail offer will happen, lets face it the new labour gov will need to get its hands on as much cash as they can, the till is empty and this is low hanging fruit to get some quick cash in.
Tell Sid 2, lets face it will be all new and exciting to next gen who were not around the first time. I will likely chuck £10k in for each of my adult children in their long term savings but i cant see me taking a large position myself. 1 share for 10 is not much of an incentive really is it. SP has rallied from £1.75 to £3+ already over the last year, so it would take more than a 10% discount to excite me, needs to be a £2 offer which is unlikely?
Now if they were to offer this in a tax free wrapper, give it ISA status in its own right then that would make it more interesting but if all i'm doing is effectively buying at these prices but gaining extra 1 share for 10 it doesn't feel that worth it to me.
Even Labour are not that daft. NWG will get their 15% cake to eat benefiting all shareholders while the rest will be dripfed on to the market in 1% batches as they have been doing very successfully.
Thanks Mike. Not sure what next for NWG. Will current rate of HMG divestment continue before/beyond election ? Before maybe but afterwards ? Based on recent electoral history, HMG may end up retaining a sizeable stake for next 13 years !
Started: Asperger1, 13 May 2024 12:05
Last post: Babarusa, 22 May 2024 15:37
Indeed, a shared buyback and subsequent cancellation happened yesterday (https://www.tipranks.com/news/company-announcements/natwest-group-executes-share-buyback-plan-3)
Likely to continue, so the number of shares will drop.
"... a scenario in their mind ..."
If, as rumoured, HMG give you one free share for every 10 you buy then only a dunce wouldn't recognise the opportunity to sell and get 11 shares for the price of 10 and think that the share price won't fall as PIs offload to generate cash to buy into the share offer. But each to their own.
I don't expect the price fall just because I've sold. I think if HMG does proceed with this daft plan then the share price will fall in the interim. If I'm wrong, I'm wrong. My money isn't sitting on the sidelines waiting for the sp to fall. It's been reinvested in higher yielding shares. If the share price does fall I might consider buying back in but I won't lose any sleep. Whilst NWG has been falling back in recent days LLOY has been trundling forward. If nothing else, HMG's (as yet) undisclosed proposals create uncertainty and shares don't tend to thrive on uncertainty. If this was the only way that HMG could offload its shares then I might be more sympathetic but I have no sympathy for an ideologically driven publicity stunt that's unlikely to have any impact on the outcome of the next election.
It's my view that NWG's current shareholders would be better served by the shares being sold to NWG for cancellation (it would increase the EPS and dividend yield, even if NWG didn't increase the dividend cash pool). Introducing a middleman is (i.e. "Sid") rarely, if ever, more financially efficient. My long term view of NWG hasn't changed but by short term view has; I think "Sid" will be bad news for the share price in the short term.
Like Trots I have just realised a nice profit here, probably a bit too soon to sell what with the economy picking up but a profit is a profit
Just because you have sold don't expect the price to fall just for you, and the recent highs of 328.40 was only recently hit and from that point you can say NWG has pulled back about 6% over the last 3 to 4 days... That maybe enough for some and the uptrend may continue from here. Would not surprise me if the next few day are closed out in a positive fashion supported with the buybacks, cpi figures and the general uptrend... IMO
Just because you have sold don't expect the price to fall just for you, and the recent highs of 328.40 was only recently hit and from that point you can say NWG has pulled back about 6% over the last 3 to 4 days... That maybe enough for some and the uptrend may continue from here. Would not surprise me if the next few day are closed out in a positive fashion supported with the buybacks, cpi figures and the general uptrend... IMO
Started: checkricky, 16 May 2024 12:13
Last post: checkricky, 17 May 2024 16:11
What's NWG shareprice doing today, ending what I thought this morning was a good week so far and it has given up all of this weeks gains in 1 day, very strange looks like maybe some profit takers or more Gov interference... Oh well let's hope for a better week next week if the markets can hold up that long. 🤞
Started: buffa, 13 May 2024 15:26
Last post: buffa, 13 May 2024 15:26
It would be advisable to purchase shares now if government plans to offer shares based on present holdings. That might explain recent large purchases by those with a better 'insider' handle on things than I have. We'll soon see how this plays out.
Started: Transmission, 12 May 2024 14:08
Last post: checkricky, 12 May 2024 23:02
Transmission this is a massive indication to the global city boys and many in the know already know the share price will be much higher in a few weeks when the governments final roll out plan will be revealed.. All I can say is it's about time and bring it on...
Leading US investor pours cash into shares after cut helps allay fears of state intervention
https://www.theguardian.com/business/article/2024/may/12/capital-group-natwest-shares-uk-government
Started: Babarusa, 8 May 2024 13:31
Last post: Broomfielder, 12 May 2024 15:13
Still to be formally confirmed as yet, but the likely Sale date by HM Gov of June has now been voiced by Bloomberg amongst others, as they suggest the planned disposal is being accelerated for whatever political purpose........quelle surprise! The sooner, the better most will say.
Although we are all concerned about what terms will attach to the share sale, regardless, the effects on the SP of any discounted offerring are likely to be temporary imo as, of course there is no dilution involved. More likely are further buy-backs by NWG which could smoothe out any real dips should they occur.
There is also likely to be a share lock-up style clause built into any shares sold to Joe Public which will also limit SP volatility I would suspect, particularly, if the Gov retain any form of residual holding, albeit that should be unlikely.
Meantime, as I believe we actually have a CEO, it would be nice to hear from now and again as well as promising to update shareholders on how things may change after HMG exits.
There again, that may call for some leadership........
Plenty of time, no confirmation when and how it will happen. With DB setting a target of 344 and Barclays setting a target of 400, there's every chance the price will continue walking up to achieve those. Then the target will shift higher and the government gets the price it wants. Like I said, everyone wants this to succeed.
The very bank that has invited me to follow and participate in the NWG offer via their trading platform has raised its target price for NWG from 330 to 400. Remember thinking 330 was optimistic but 400 ? IMO removal of gov interference means its probably worth it.
Not enough time for that is there, June Comms is my bet and will hopefully keep rising in the interim
Do you think that they are waiting until it's closer to 500 to make back some of their money?
Started: luckylurker, 7 May 2024 13:11
Last post: Dantis, 8 May 2024 17:50
You are forgetting the 2012 share consolidation. So he doesn't hold 15000 shares he holds 1500, so just over £4500 is correct.
15000 shares is over £45k now? Not £4500.
He’s received dividends every year too and may have reinvested them.
Sounds like he did rather well for £1500…
Is this supposed to be a boast of some kind?
You've spent around £1500 and 16 years later, it's worth a bit over £4500. Well done, but I don't think Warren Buffet will be marvelling at your investment prowess.
I am always mindful of some of our older holders of this stock! Good luck all
Hi, I don’t often post on here mostly read laugh and jog on, but I must share this with you and the others on here, I bought back in 2008 nearly 11p a share. 15000 of them then it was reduced due to rbs consolidation’s ect. Enjoy your day I know I am …
Started: ElPadre, 7 May 2024 14:40
Last post: ElPadre, 7 May 2024 14:40
What have I missed!
Started: Erebooni, 4 May 2024 21:19
Last post: Donkeyeeyore, 6 May 2024 21:43
Sunak's not bothered about being an unelected PM Kingalf and he probably thinks he can still win the election. Labour keeping quiet on sale at the minute but would soon play the politics of envy card if sale announced. Can't see them going along with it though.
I don't think it will happen to be honest unless Labour decided to run with it. How long can an unelected PM who's party has been decimated at the local election legitimately hang on to power. Just makes a mockery of our constitution.
NatWest has recently passed a resolution allowing it to buy more shares off the government, that would be the best outcome for existing shareholders.
Sounds good Dinoken, previous float bonus shares have been issued more than 12 months later from memory. Also, some were issued in installments to make it easier for cash strapped SID to take part. This way pre and post issue share price would be strong with nothing in it for shorters. Any 1st day premium would be OK politically as nwg being returned to the private sector post bail out, as opposed to selling off state industries to those 'lucky enough' to be sitting on spare cash.
Does this mean that offer price will be market price and the 'Bonus' shares awarded after say 1 year are the 'discount' !?
If the serious money believes (1) there will be a SID-type offer and (2) it would have to be priced at an attractive discount, I would expect some serious shorting before any official announcement. If/when that occurs, I'll sell. Simply because in my experience the shorters get it right more often than not.
Couldn't agree more! I just don't think that's the HMG plan
Barcing Bank just invited me to join their email list for the NWG Offer ! Heard nothing from NWG about it ...
Why is it a problem? Rather than put he whole lot onto the market with some kind of Sid offer, why not just drip feed them as and when over say the next six months? With the recent performance, there should not be a shortage of buyers wanting a punt. I will probably add a few more myself if a short dip occurs.
NWG will end up buying 15% of the 29% left to purchase leaving 14% which will be easily disposed of.
Started: Dinoken, 2 May 2024 22:04
Last post: AbjectPerformer, 2 May 2024 22:26
I did not reinvest my dividend and unless this tanked back to £2 I would not buy any more.
Just wish I’d bought more than £1250 at 175!
Maybe they were a bit slow off the mark in doing so Dinoken and £2bn a fraction of their assets. Pension funds have been moving out of UK for sometime. UK seen by some as offering good value now.
Guess who is pulling billions out of UK market ahead of parent NatWest stock sale ! Further selling pressure on the UK market at a time when valuations are already depressed. You could not make it up ..
Started: shatter, 30 Apr 2024 10:55
Last post: SonofRobin, 1 May 2024 08:37
Mine has been reinvested today.
£4 here we come!
No
You mean £3.50 I assume.
£2.50
Hopefully
Divi reinvested at 9 am this morning. Interesting to see where the share price goes now !
Started: martinhorn, 29 Apr 2024 10:16
Last post: onelongrunner, 29 Apr 2024 15:52
How much will get re-invested from tomorrow?
Divi received at 12 noon.
Yep, got mine :)
Ii was approx 11am. There in cash now.
You already got it then Ash
Started: xxxAccountant, 29 Apr 2024 11:39
Last post: xxxAccountant, 29 Apr 2024 11:39
Nice to see three upgrades today
Were the only bank down today, guess due to talk of politicians meddling and some profit taking from Friday
I suspect a nice climb through the day following Barc day 2 post results
Last post: AbjectPerformer, 27 Apr 2024 21:25
Thanks saintly .
I’ll think more before I make a decision. I bet whichever I choose stick or twist, it’ll be the opposite that was right 🤣
Hi Abject, It is all down, I guess, to what is your level of taking a profit. Some are happy to exit after a 10 to 20% rise, others like myself prefer to hold out for more but at the end of the day you have to exit when you are happy. Just remember that there will only be a buyer if that buyer thinks they can get a bit of profit when they buy your shares. I personally see this as going a lot further so for me this is still a buy. You could hedge your bets and take your initial stake plus 50 to 75% of your profits and leave the rest in hope of further gains and the dividends. This would then be at no cost to yourself and you would have banked a profit and a win. Just a thought. Whatever decision you make then good luck. Regards, S
Would it be a silly decision? Just your opinion not advice
Only you can make that decision
Wondering whether to sell my funds here now and move them to phnx who are down but doing well?