Member Info for Broomfielder

Well, the latest virus mutation shouldn't really be a surprise, but yet Markets have again reacted with the latest news with nothing less than abject panic.
We are right to be concerned, but lets get the scientific facts in place first before we jump off that building, bridge or whatever.
At least we can be assured that the imminent collapse of (China's) Evergrande wont strain any UK banks according to the BoE. Thats if you believe them of course when only a few weeks ago A Bailey was advising strongly that interest rates would have to rise only for them not to at the first opportunity. Yet we all know they will increase rates next time around.
Makes you wonder who you can rely upon in this country to 'lead' by demonstrating acumen, knowledge, statesmanship, integrity etc..........where have they all gone?
As for investors, we are left to pick our way through the debris.

You do have to love the (professional) analysts' reviews of the Q3 results. In looking to comparisons with their peer group, NWG performance 'lacked sparkle'.
Well in contrast to Lloyds, NWG mortgage book is not on that scale (which underscored Lloyds performance) and in looking to Barclays, their Investment bank, was in boom mode. NWG by contrast have largely dismantled theirs.
A big part of analysis centres on assessing the quality of the Executive team and the respective strategies and policies which underscore the 'Corporate culture' of the respective organisation.
Thus, NWG's plain vanilla, almost 'savings bank' approach borne out now for some time, is destined to produce steady, if unspectacular results. To be fair, thats been their mantra, as I have said for a considerable time.
With this in mind, its ironic then the 'surfeit' of capital now in evidence, is itself now starting to draw criticism. Come on guys, what are you expecting here; a strategic aquisition?
If you understand the Group and its Executive, you may not agree with their chosen direction, but it would save us from so many inane observations from so-called blue chip analysts who seem to think analysis is nothing more than playing with their Excel spreadsheet.
I am not our Executive's biggest fan, but I believe we are well placed to maintain steady, if unspectacular, progress over the coming years.
You may like more excitement, but it aint rocket science analysts!

The quality, depth and extensive global sweep of the research umdertaken independently of Angle's Parsortix system has been unequivocal in supporting its safety, procedural simplicity and accuracy.
That, to by understanding, there has been not one negative aspect arising from this research which would cause any modicum of concern, suggests the FDA really have to come up with something rather special in order to reject Angle's application.
As others have commented, the FDA's decision on POLX's application is, no doubt behind the c10% reduction in our investee co's SP today.
Rather like bad economic news, it gives the MMs carte blanche to writevtheir own bonus cheques. Pathetic really, but thats the market.
Now, while we all like making money, I wish the FDA would get their proverbial a*se in gear and approve Angle's application because a huge number of lives across the world could depend upon it.
Thats the real issue.

Just after 8pm, my online account with II finally rectified their previous closing price to 43.62p (from 40.28p).
C'mon II, this isn't good enough!

My online account with II is showing a closing price of.....40.28.

No offence taken Nate. The point I was trying to make was that with such uncertainty concerning the World and, in particular, the UK's economic recovery, you would want the best Executive team leading your (investee) co. Banks in particular inevitably suffer more coming out of recessions rather than in the depth of them.
For clarity, IMO, S Hester was in a different league from his successors (and predecessor) and its a measure that after a prolonged period of ill health he should choose a Company fending off a takeover etc. Not for him a passive Chairman or CEO role but one that requires guile, acumen and inventiveness etc. He was far too smart for G Osborne and D Cameron who got rid of him to protect their own egos (rather than the UK taxpayer).
I acknowledge its often difficult to get a close handle on the abilities of CEOs, BoDs etc but as far as exiting Ulster bank is concerned, AR is simply a custodian of that decision and not the instigator. The so-called Peace Dividend in NIreland which fuelled so much welcome redevelopment was largely funded by Commercial Bank debt, most on extremely 'soft' terms. This morphed into a huge unsustainable property bubble which cost all Banks dearly. However, politically it was unacceptable to rein things in with the Province witnessing close to boom times. The Financial crash in 2008 took the decision out of everyones hands.
We are still paying for it today with huge debts still to be written off.
.......I expect this post might get taken down somehow!.
Best of luck.

With the way out of the Pandemic for the UK likely to be bumpy to say the least, it is equally likely that the NWG sp will prove to be volatile for the foreseeable future. Added to the wider macro issues is the specific one pertaining to the Gov's timetable for the eventual disposal of its remaining shareholding.
Murky waters ahead which will make second guessing this share more of a lottery than most.
Pity then, we don't still have a CEO of the likes of S Hester who is currently adding considerable gravitas to the Board of easyJet as they defend a takeover and attempt to restructure their B Sheet.
Not a fan of his lifestyle but his acumen and ability are a considerable step up from what we currently have at the helm (IMO of course).

I think you are right jimjam, the SP should consolidate at higher levels and closer to 250p should not beyond us providing a fair wind etc.
Like you, I am a (very) LTH so I guess we are both very much in the red with NW. Life changing losses in my case which would all be put right if the SP could only hit its previous historic highs (post consolidation, that would be c£200).
........perhaps a tad optimistic, but I'll take progress, however slow.
GLA

As everyone knows, banking is deeply cyclical and reservations over the strength, diversity and robustness of the UK economy (to which NW is overtly exposed) as we come through Covid, Brexit and other shocks are undoubtedly acting as drags on analysts views of the main banks in general.
Particular to NW is the longstanding view that compared to its peers, its Cost/Income ratio is higher and its growth in Income is forecast to be softer which colour the professionals views of NW.
SP still on its uppers and at 20p in real times (ie ignoring the consolidation), despite a few false dawns, is no better than (Rbs) SP was after the 2008 financial crash.
The picture may become clearer as HM Gov reduce their holding as the overhang undoubtedly hinders SP movement, but how many issues over the past 10 years or so have we said that?

Any progress in getting rid of this disaster of a Bank is welcome, if already a much overdue action that should have commenced many years ago. A lot of dross will however require to be written off and that will be painful, but thats no surprise.
The above, and the announced further reduction in the Gov's holding, is welcome even if the latter will add to a degree of volatility in the SP.
The Bank's business model progresses down its chosen route of predictability (as much as is possible) and sustainabilty as they are pains to point out repeatedly.
If you want excitement, try somewhere else.

Just so long as the Gov's shareholding is disposed of in a measured, controlled and progressive basis, this is fairly obviously to the benefit of remaining shareholders. This 'overhang' is one of the major impediments to the SP taking flight IMO and thus reducing it may cause the occasional blip, but nothing more longer term.
NWG is a quite different Bank from the days of 2008 but bear in mind that pre consolidation, todays values equate to 18.9p (SP) when on this basis these share were once trading in excess of £20. Its something I won't ever forget (nor I suspect will many others) , but lets focus on the future.
Even with an executive team whose abilities at least limit the aspirations of our Group (again very much IMO), that is perhaps no bad thing. However, post Covid, in a Global recovery, i would hope our 'risk averse' mentality does not preclude NWG from optimising our true potential. Even if it has to come with a social conscious.

Thats a nice wee story Dinoken, but I suspect its a bit of 'the drink talking' by your good friend. The topic raised is to say the least a bit complex and theres a lot more to it than just bail-outs!
You might have seen the attached article before, but it gives a smattering of the subject:-

https://www.these-islands.co.uk/publications/i371/scotlands_next_financial_crisis.aspx

Hope the link works, having probs with the tablet.
B

SoR - I couldn't possibly comment on that. Well, I could, but, better not!
Best of luck.
B

Agree with what you say JABH...........bear in mind we have AR as CEO. What do you expect?

NWG are headed in the direction of an old style savings bank away from anything remotely adventurous sounding. I think its all the current Exec team can handle. Whatever, your view the Group is headed for calmer waters and a more predictable, if less exciting bottom line.

Excess Capital IS the correct wording and relates to the nature (and length) of lending that predominates in Ireland which attracts the need for greater Capital allocation to comply with the Capital adequacy requirements under Basel III. These is a bit more to it than that but hopefully gives a flavour.
I have stated before that IMO, RBS/NWG should have exited Ireland many years ago. Of all the divestments our Group have made, the Irish one is IMO one of the most obvious and one which was no doubt politically difficult, but one which will greatly benefit the Group going forward.

RBS/NWG are or were of course majority owned by HM Gov and under Accounting rules would be viewed as a Subsidiary etc. So, essentially the FCA, itself under pressure to show its 'teeth' makes an example of and charges another Gov Dept.
Of course, no individuals are held accountable and its really only the shareholders that will be affected here (mostly UK Gov).
Some people might think it shows the FCA mean business, but they must be few and far between.

Most of us who invest, especially in AIM shares, read through hours of info and analyses which hopefully significantly narrows down our potential targets considerably.
Then, particularly with explorers be they oil, gas or mineral, you really start to identify those targets that could 'fly'. A lot of us favour a particular type, be it a gold explorer and still more may only look to Companies within certain favourable and politically stable countries such as Australia.
By the next stage, your investee Co may have started to produce findings from its initial drilling campaign which again should support the prospect of significant resources.
Or, you could cut a lot of that work and go straight to XTR - its not often you have such encouraging potential with the added bonus of a major player having a pre emption right to buy back the asset should resources exceed the agreed leve for its Bushranger Project.
So, in essence, the question any prospective investor in XTR should ask themselves at this stage, is simply how much do I put in. Each to their own etc.
I am not saying XTR is without risk, but the balance is certainly tipped toward the investor IMO. The rest is up to you, but on the basis Bushranger continues to produce supporting evidence for what could be a very significant discovery, then the SP is only going one way.
All the best .

Apologies AM90 - you are quite correct. In all honesty, a bit stunned by the change in closing price having seen the damage elsewhere in my portfolio.

I seem to recall we have had a similar 'after hours' SP uplift a month or so back during our stellar rise, but this is very unexpected when 'red' seems everywhere on the market.
Takeover?