Member Info for Darth.Trader

London Finance Takes Another Hit as Carbon Market Goes to EU......
Intercontinental Exchange Inc. plans to move its 1 billion-euro ($1.2 billion) daily market for European carbon emissions contracts to the Netherlands from London in a blow to the U.K.’s attempts to build a green finance powerhouse after Brexit.

Stuart Williams, president of ICE Futures Europe, said the decision to shift the business into the European Union will help traders and investors “manage climate price risk in the most cost-effective and seamless manner.”

The market is a key plank of the EU’s efforts to combat climate change. Volumes for futures and options contracts have more than doubled since 2015, ICE said in a statement Monday. The trades will continue to be cleared through ICE’s London business.

The shift comes after the Brexit transition period ended on Dec. 31, cutting off access to most London trading from the bloc and jolting several major markets. European equities have moved to Amsterdam and Paris from London, while some derivatives contracts have shifted out of Europe altogether in favor of Wall Street platforms.

DYOR

Rosewall,
I do not think either side had done any of us any favors, just imagine if Thatcher never stood her ground over sterling…! Not a Thatcher fan but…..!
For such an important project such as the EU you would think the “rules of engagement”, make no mistake that is what it is, would be as easy to leave as it is to join….
bureaucrats destroyed what could have been and this crisis, first real test of unity, had shown us that things are not as cozy as people think. It took this crisis for Germany to share not just the monetary but also the fiscal responsibility….
Italy had been shafted imho, if they still had there own currency then it would be a manufacturing epicenter …..

DYOR

""For the record Darth, do you or do you not believe the dividend will be reinstated on 24th Feb?""

No...I don't believe a divi is forthcoming, but feel they should. Even if the Divi is paid the SP will retrace as expectations for the holiday seasons are dampened.

"Do you expect this to have any impact on the share price?"
I expect the SP to retrace,regardless; however if no Divi is forthcoming then i can see the SP in the lower 20's..

"Are you short or long on the share currently?"
No position in lloy at present, will evaluate as other banks report. I will have positions in Barc, lloy, etc depending on reports...
ATB Darth
DYOR

London experiences massive drop in Euro swaps trading post-Brexit...
Trading in euro-denominated swaps has dropped by nearly 30 per cent in London since the end of the Brexit transition period on 31 December, with trade primarily shifting to New York, Amsterdam and Paris.

According to new data from financial research company IHS Markit, published earlier today, euro swaps trading in the City of London made up just over 10 per cent of the overall market last month, compared to 40 per cent in July of last year.

Meanwhile, EU platforms made up a quarter of the total euro market in January, compared to only 10 per cent in July 2020, while trade on US platforms doubled from 10 to 20 per cent.
Amsterdam
The figures come as it was reported that Amsterdam surpassed London as Europe’s largest share trading centre last month.

Some €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE and Turquoise, the London Stock Exchange’s platform, in January – a more than fourfold increase from December, the Financial Times reported this morning.

By comparison, volumes fell sharply in London to €8.6bn, knocking London from its main position as Europe’s largest trader.

Many City insiders, however, believe that the lack of an EU-UK equivalence deal could in fact help the City appeal to more global destinations, including Hong Kong and Singapore.
https://www.cityam.com/london-experiences-30-per-cent-drop-in-euro-swaps-trading-post-brexit/
DYOR

Troajan, the EU have already shown intent, also even though they back tracked on NI again intent....They will show more and more protectionism as this crisis worsens which will lead to further break up within the Bloc...

DYOR

SpreadTrader,
that is exactly it, the information in the wild is negative and had been for some time, yes at some point it will turn but with that said PI's had previously repeated so called turnaround points, Vaccine, Ending of Lockdowns, EU/UK deal.....Now we have talk of the "Return of Divi"....

Buy The Rumours Sell the News..?
DYOR

EU could cut UK out of financial markets - Andrew Bailey....

https://www.bbc.co.uk/news/business-56017419
DYOR

embarks on revamp as loss deepens to record level.
Germany’s second biggest bank reported a record $3.3bn fourth-quarter loss on Thursday as it continued to absorb the fallout of the Covid-19 pandemic.

Shares in Commerzbank fell nearly 6 per cent in mid-morning trade.

Commerzbank said it would swiftly introduce plans to cut 10,000 jobs and close hundreds of branches in a bid to strive for profit in 2021.
Read More;
https://www.cityam.com/commerzbank-embarks-on-revamp-as-loss-deepens-to-record-levels/?utm_source=dlvr.it&utm_medium=twitter
DYOR

Euro zone growth forecasts lowered as coronavirus restrictions drag..
The European Commission has turned more negative on its prospects for the euro zone’s economy, projecting a lower growth rate for the region in 2021 as governments grapple with new variants of coronavirus.

The Brussels-based institution expects the 19-member region to grow by 3.8% this year. In November, it had forecast a 4.2% GDP (gross domestic product) rate for 2021.

The latest forecasts come at a tricky time for the European Union as its Covid vaccine rollout faces issues around production, supply and red tape. At the same time, European governments are concerned about mutations of the virus that are deemed more contagious. The longer the health emergency drags, the longer EU countries have to extend social restrictions and lockdowns, which takes their toll on the economy.

“We remain in the painful grip of the pandemic, its social and economic consequences all too evident. Yet there is, at last, light at the end of the tunnel,” Paolo Gentiloni, commissioner for economic affairs said in a statement on Thursday in relation to vaccine rollouts.

Going forward, the European Commission expects 2022 GDP in the euro area to reach 3.8%, having projected a 3% GDP rate for next year in November.

https://www.cnbc.com/2021/02/11/euro-zone-economic-forecasts.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1613038314
DYOR

and bad loans as COVID-19 help for firms ends.
The European Union is facing a surge in bankruptcies and bad loans once the post-pandemic economic recovery starts to take hold and governments begin withdrawing state schemes that are keeping many firms on life support, a EU document indicates.

Read More;
https://www.reuters.com/article/us-eurozone-eurogroup-solvency-idUSKBN2AB0SJ?taid=6024f8065f3c08000180b2b3&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

‘on course to sweep the world,’ leading scientist says....

https://www.cnbc.com/2021/02/11/uk-coronavirus-variant-on-course-to-sweep-the-world-geneticist-says.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1613034783
DYOR

I'm not convinced that a divi is forthcoming although it would be the right thing to do after all Lloy paid everyone and everything else, such as the Pref's ETC during the ban but then again they always have)..
I do hope this is not a case of Buy the Rumours Sell the News....if so then the rush for the exit will see the SP hitting the low 20's....
As for all this talk of UK's surplus cash that had been saved during these Lockdown i read that many have reduced, wiped out household debt; therefore i would think people will have been mulling over finances, investments as a matter of course and I don't see many wasting it in spending spree. tough times await many and the UK deal wit the EU is only just starting to flag up problems.

DYOR

"The Big Short" is good, "12 Monkeys" is another one...
DYOR

"When will we know!"

hey LTI, fella over here wants to know how many more sleeps...
DYOR

"I purchased it over 20 years ago. Made a fortune on it and Apple.
No longer own either"

OH you..! but i bet you still got a long position, Spread Betting, and orders waiting to be filled with the normal caveat of course ...
DYOR

Refusing the jump eh, next it'll throw the jokey...

DYOR

one if the main reasons people voted leave was so that Government could support, invest, take up small shares in Tech and other companies or have people conveniently forgot that.....anyway one dresses it up it will be Tax Payers monies, some people are just so naive...
Think state aid that will be forthcoming from this present Gov't will put ALL of Labours previous terms in office in the shade...!

DYOR

well Australia's 'world-class' quarantine system has seen breaches so with that in mind how well will the UK Covid-19 hotels, Locky IV, compare to the Aussies...?
https://www.bbc.co.uk/news/world-australia-55929180
DYOR

Every passenger arriving in the UK from Monday must quarantine at a hotel for 10 days at a cost of £1,750 per person, the health secretary has announced.

“Any returning citizens will have to quarantine at an assigned hotel room for 10 days or for longer if they test positive for Covid-19 during their stay,” Matt Hanc0ck told MPs.
An initial 4,600 rooms will be made available from 16 different hotel operators from 15 February, the health secretary announced.

“People will have to remain in their rooms and of course will not be allowed to mix with other guests and there will be visible security in place to ensure compliance alongside necessary support,” he added.

All passengers will also be required to take a pre-departure test, and further tests on their second and eighth days of quarantine.

Arrivals must book their tests via a new online portal which is set to go live on Thursday, with the tests automatically undergoing genomic sequencing to check for emerging Covid variants.

The government will take a hard line on quarantine flouters, with penalties of £1,000 for any international arrivals who do not take a mandatory test, £2,000 for anyone who refuses to take a second mandatory test, and £5,000 — rising to £10,000 — for arrivals who fail to quarantine at designated hotels, Hanc0ck announced.

https://www.cityam.com/breaking-hotel-quarantine-to-cost-1750-per-person/?utm_source=dlvr.it&utm_medium=twitter

DYOR

"The price is a penny less than yesterday"

missed opportunity to exit a trade in a higher position then....
DYOR