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Having sold out Friday morning, back in this morning and bought 100k @ 35.75. Like a lot of people, I assumed that deal was dead, hence sold out, thinking it would continue to fall this morning. Just goes to show you, you can't trust a politician as far as you can throw them. Both sides said final decision on Sunday, one way or another and to start preparing for a no-deal scenario and moving to WTO tarriffs and hence, the sell off last week. But it just goes to show you that no one has a crystal ball and thats why people should ignore the majority of posts on BB's such as this for the purposes of investing. Personally, I find a lot of posts on here quite amusing and they give me a laugh! Hopefully common sense now does indeed prevail, which is what most people and the markets themselves have been predicting for many weeks and we can move forward, especially with the news of the dividend that was announced last week, which was lost in all of the Brexit noise.
Similarly i have sold my position this morning. I fear that come Sunday there will still be deadlock. Initially bought 110k @ 34.78 and sold this morning. Hence, still in the money on exit. But only just. Still believe in the fundamentals, but this is completely being undermined by sheer stupidity.
Shouldn't be any issue getting past 290 where there is a bit of resistance. If theres a Brexit deal, would expect this to be achieved and then settle into a 310-320 trading range.
Congrats Onlyonewhufc. Always good to have an exit strategy and follow through on it. Im sure we've all been there before whereby we got too greedy and should've sold out whether cutting your losses or take profit. Also, a lot less stress! Brexit looks like its going down to the wire and too close to call. Im actually surprised FTSE is up, given curve ball that the French have thrown in. If there's a deal, then would expect the broader market to get a bump and RR to push through the 136-139 gap and then it will be interesting if it can getting back to pre cover £2 levels. However, if there's no deal, then there will be short term pain. GLA.
If he does go into exile, it won't be for too long. As each day ticks by and both sides are still talking, the likelihood of a deal increases, since the impact of having to manage a no deal scenario is unthinkable for both sides. What Barnier and Frost and their teams are likely working on at the moment, is a compromise that allows them to walk away so that they don't lose face and the terms ratified with their respective parliaments. If a deal is announced, cyclical stocks such as Financials, Energy and FMCG will come back into favour and this will move back into the 40's. The announcement of the new CEO is a bold one but I think will pay off, given his operational experience from the ground up and not being your typical banker. He knows how to manage large, unweilding, complex organisation and has managed large scale transformations as an ex consultant and COO. He has also been involved in building lean organisations and knows about digitalisation. This is what Lloyds needs, as opposed to your typical M&A / Corporate Bankers who do deals and manage client relationships.
Rick - If there's a no Brexit trade deal, you'll get your 30p, but can't see that happening despite all the political posturing that is going on. No deal benefits no one. The fact that it has impact on the broader global economy, means there's pressure from abroad to get this done. Given the impact of the pandemic, the last thing anyone needs is another grenade to be tossed into the mix. Focus on 2021 has to be to get back to normal and get the economy back on track as quickly as possible, otherwise our grandchildren will still be paying for this, long after we are gone. Negotiators need to find common ground and put aside their differences, otherwise in years to come history will show that they were found wanting when they were needed most. Personally, I think a deal will be done, and then that will trigger a move into cyclical stocks such as Banks and the share price back to pre-covid levels. We should know soon.
Trend is up. We're only 7p off Tuesday's close. Company has (a) cash in the Bank; and access to additional credit which has safeguarded its long term future; (b) backing from Institutional Investors; (c) restructuring in progress which will mean a more leaner and efficient organisation; (d) Vaccine will pave way for planes to start flying again; (e) Diversification into other areas. People need to stop watching this every minute. You're just going to work yourself into a state. Rome wasn't built in a day.
Meant EU and UK need to agree Brexit deal!
EU and Brexit need to agree deal soon, since needs to be ratified in the respective parliaments, which isn't easy, hence, this is why market are expecting deal before end of the month, to give enough time for the deal to be rubber stamped.
A close above 38 is important and takes us above the June high when markets were at their Summer highs before retreating. If Brexit deal comes through in next few days, then a new trading range in the 40's is likely.
110k @ 34.78. Bought back in June. Should get Brexit news in the next week or so. Transition deal is key for determining whether we move into the 40's. Holding till confirmation of resumption of dividends and long term target of 55.