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So one has stuck a rocket up the spa’s backside…..

You mean on one of their ships? I do have to admit to finding no logic in the share price movement.

And just when, pray, will that happen?

Well, that plea fell on deaf ears…..

And investors seem to be falling over themselves to lend them money to do so!

Thank you, Mike,

Makes sense, although “missing expectations” does seem to produce unduly harsh hits, viz Carnival Cruises when they produced their third quarter results -despite many positives - tge shares went down by 20%. I know they are a completely different kettle of fish from NatWest!

Interest rate hikes are a bit of a double-edged sword. They increase lenders margins but also increase the risk of default. NatWest haven’t yet indicated any bad loans on their books but it may be a bit premature. Lots of remortgaging to happen in the next 12 - 18 months. Appreciate there are many, many factors - quite a few outside NWG’s control - which can influence performance. Still, tat what the execs get paid their big bucks for, isn’t it?

We can all se that.

Would someone please explain why “market expectations” are so important? NatWest were marginally short on their profit this quarter, i.e. less than 10%, more than accounted for by the loan provision of 247m. Did this performance make them a less successful business, or downgrade their future prospects dramatically? I suspect not. They are no worse a prospect now than they were two days ago. So why the 10% share price drop?

I would hope it would recover over the next few weeks.

Many pundits reckon the price will be £3.50 by mid next year.

As an aside, I heard of a couple of American ladies who missed their embarkation in Madeira. They were told they would have to get on the next ship to call in.

They were very disappointed that the Captain would not drop them off in Florida. The ship was on its way back to Southampton…………

I have heard of all sorts of shenanigans on different ships, a number of which resulted in passengers frogmarched to their cabin, a guard posted outside and the passengers disembarked at the next port. Travel home at their own expense.

Fortunately never encountered such myself. I assume the enforced disembarkation remains the option of last resort.

Does the $ fine mean that it applies to all except P & O, I wonder?

Most people are on board to enjoy themselves but not to annoy others. On our last outing, I happened to walk behind the couple in the next cabin. She was losing her legs (the sea was calm though) and, on reaching the door, decided to kneel on the carpet. When partner opened it, she fell into the cabin and he dragged her in.

Next day, they were throwing canapés off the balcony to the gulls in flight. What can you do?

Hi - what’s your source of news, please?

All you have to do at present is say you had a negative LF test, no evidence required. We suspected some fibbed as there was Covid on Arcadia in August. They closed half a deck on one side to keep the buggers isolated. We were asked to wear masks at all times in public areas but a number didn’t.

My biggest worry is about the coming wave of flu/COVID. Our hospitals in Hampshire all have full covid wards.

We were there in August on Arcadia. 21degrees C in the Arctic Circle!

Aurora, Arcadia and, before they sold her off, Oceana are our favourites. Apparently, Arcadia was built for Cunard just before Carnival acquired them. Was passed on to P&O who were acquired shortly thereafter! She is very similar internally to Victoria, I’m told.

There is a rumour that Arcadia is having a refit in December.

Which line and ship are you on? Hope you have a really good break!

Agree about stability - need some of that! The only trades which have the correct tag are those labelled “O” - ordinary, i.e. someone like you or me has sold or bought. Those labelled “A” are automatic which means they have been sold or bought by a Market Maker. If you research how trades are recorded, you’ll see how it works.

You cannot tell from the “trades” alone because for each “sell” there is a “buy” and vice versa.

Thanks for that. I think it should also be added that Carnival have three new ships in the pipeline.

My major worry is a new COVID wave - our local hospitals are all reporting large numbers of cases about 50% of whom turned up for some other reason and then tested positive. The three hospitals are now insisting on mask wearing for all visitors and a negative test.

Carnival Bermuda announced offering 1.25B “senior priority notes” - the collateral is 12 “unencumbered” ships from across the group’s companies with a book value of 8.62B. Notes repayable in 2028. The money will be used for, essentially, general corporate purposes, including paying interest and notes due. It’s some refinancing, no voting or any other rights attach and can be held only by institutional investors.

Quite a big gain on the day - I guess the institutions like Carnival!

As you say, going up again. Not sure why the volatility but ‘‘twas ever thus.

What is so different now from 6months ago when the share price was £15?