Member Info for Cheapskater

kelladee, In a nutshell. It can only be offset against future taxable gains by the company that made the losses. So it's not going to be given back as a rebate. It has to be earned and it cannot be sold as there is a continuity of ownership test that can to be continuously met until it is used up.

Bottmzup wrote "I think they have been sitting on these permits for a while and chose today to release the confirmation because the sp was showing weaker signals." I very much doubt that because the permit date is specifically states the 17th which was last Friday. They do not issue these things with future dates on them and I'm not sure how quickly they then send that around their internal systems before they notify the applicant but I seriously doubt it is less than 1 day so a Wednesday announcement is probably as quick as they could get it to the market not during the trading day. Agreed that is is factored in as expected news though. No significant reason it should create a sell off though as it's not a confirmed rumour. It's just detail around a previous statement. it does show there are limitations on it but not significant caveats, just that ECR need to have agreement for a work plan for anything other than "low impact exploration" The rumours can start now about the when the drilling sites will be identified and the work plan submitted and when the drilling can start, what it will cost (whether is it covered by existing funds) etc but the main rumours won't be until we get closer to the results of the drilling, which are months away. So perhaps the sells are people who think we have peaked for a little while and can make better use of their funds elsewhere.

If there is pending undisclosed information then they would still be in a closed period with regard to director dealing. It is likely the amount of time when they can trade will be massively out numbered by the time they can't. Not saying this is a closed period, just that on balance it might well be as they are discussing the plans for ongoing operations. Open periods for board trades tend to be shortly after an RNS when the share sensitive information they are party to goes into the public domain.

Probably lots of people getting out because the dividend profile is changing after this one. They announced month ago that the divi was falling to 20c pa so the gravy train has come to an end. The correction is a big one though. Even so the new divi at these prices is a little under 3% which for new investors is better than BARC which is 2.5%. Might be some tax to pay on it now though as 3/4 divis will be cash rather than scrip shares, which could bring the two closer together. Other factors around are, Greece still not settled and let's not forget there is a General Election approaching here which gives markets the jitters until they know the outcome. This one seems less predictable than ever as it appears to be quite tight between the two main parties and we'll have to wait and see who takes the middle ground to become the power maker. For Santander, Brazil is still not comfy and there is a Presidential election in Argentina this year so I think with the divi situation it was right for a lot of long termers to bail. Not been watching the volumes though so interested to see if that was above average which is more indicative of a major shift or opinion than anything else. Wouldn't be surprised if there were a few stop losses hit that triggered sells either so we could be looking at a bottoming out followed by a bumble along with the sector sentiment until the the next results come out. Might be a prolonged buying opportunity soon if you are happy with about 3% but I don't expect major capital growth for the time being. But a short term bounce might be possible. As usual, who really knows......Out of fold, stick or twist I'm in the stick camp for the time being.

Also just read from Reuters that 36 banks would have failed the stress test if full Basel III rules had been applied to the stress test and BNC was one of them so that may also contribute to further selling this week.

I would have thought it has to be Eurozone related. 20+ banks did fail the stress test so the whole sector is probably being sold down and BNC is going for a ride. Also Germany slow down and someone at the ECB saying that monetary easing from ECB is not necessarily the answer is not helping either. It's only a problem if you want to sell otherwise it just means you can buy more with the same money. Trying to get my old pensions transferred to my SIPP so I can get more at the moment in some ways I'm hoping it goes lower as I have no intention of selling my holding for years as this is a good earner for me.