Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The rise so far is better than what I expected.
In @184.
The Gov. hype of their sales is keeping this boring stock alive - hence the rise? As the buybacks can’t be the reason…..can it? ;P
*too
Hi Neil - We’re back at 250 - Was a week to early with my prediction after XD - better late than never lol ;)
GL & ATB.
Cheers MJS1 - thought it was bed and ISA method. And as uncleBuck57 - mentioned this can incur CGT if over the limit….just thought from Scallywag comment he had a way to sell them all and not incur any tax at all.
Cheers for the clarification response ;)
Much appreciated.
ATB :)
@Scallywag3: How do you transfer Shares from an ordinary account to a ISA account? Do you have to sell them first and then buy back into an ISA? If so, does that trigger tax CGT or a loss that you can use? Or is there another way without incurring any tax liabilities?
Perhaps drop is because BT has pleaded guilty to 7 offences relating to unsafe implementation of traffic management measures in a prosecution.
Also, OFCOM has found Open breached Quality of Service (QoS) standards as they failed to meet 3 of it’s QoS standards in the leased lines and whole local access markets during 2022/2023 - not sure what the repercussions this has on BT group.
Just what I found from having a quick search, other than could just be selling up for Easter lol.
GLA & ATB.
The UK government has reiterated plans to sell its stake in NatWest to the general public “at the earliest opportunity”.
Chancellor Jeremy Hunt said the Treasury wanted to “create opportunities for a new generation of retail investors to engage with public markets”.
Hunt added: “So we will proceed with a retail sale for part of the government’s remaining NatWest shares this summer at the earliest opportunity, subject to supportive market conditions and value for money.”
A previous update from UK Government Investments last month said the retail offer could even start as early as June.
We’ll continue to keep you updated on:
When the government confirms timings on selling NatWest to retail investors
How you can expect to take part in the retail share offer
- excerpt from HL email.
Yes Mo2047 will drop about 4.5% (11.5p) so about 240 mark - before hopefully recovering a couple of % or better back to 250 by close of tomorrow.
ATB :)
@Pokerchips: That’s exactly what I did not get an impression of from watching or hearing her - Lack of leadership conviction and uninspiring - and just regurgitating things people said in the past, and trying to charm the interviewer - how many times she said she would love to “hangout” with him more, and she even stated that he delivers objective summaries better than herself - and even offered her job to the host (who act/says those things Live to thousands of people) - Definitely not a Leader!
Natwest key facts
• Forward price/book ratio (next 12 months): 0.52
• Ten year average forward price/book ratio: 0.62
• Prospective dividend yield (next 12 months): 7.3%
• Ten year average prospective dividend yield: 4.1%
***All ratios are sourced from Refinitiv.
Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn't be looked at on their own - it's important to understand the big picture.
HL Views…
Nat West's record 2023 was marked by performance peaking early on.
But as we moved through the year headwinds started to become more pronounced. It's clear that we won't be going back to the levels of profit seen in early parts of 2023. That doesn't mean Nat West needs to be put on the sidelines and fourth quarter results were broadly better than expected.
As a traditional lender, loan default rates are an important risk to watch for. Impairment charges (money put aside in anticipation of more people defaulting on loan payments) were better than expected as customers continued to show remarkable resilience in the face of higher inflation and interest rates. We think it's reasonable to expect low default rates to continue over 2024.
Deposits make up the other side of the equation and we continue to see retail customers in search of better rates from longer-term savings accounts. That's been an ongoing headwind over the past year. But crucially for NatWest, the pace of deposit switching was significantly slower in the fourth quarter than in the prior. Perhaps a sign that the peak in switching has come and gone. That'd be good news for margins - something for investors to monitor.
Costs are a challenge, and a key focus for the new CEO.
We've been pleased to see continued progress on reducing the cost to income ratio (2023 51.8%) - medium-term targets look for sub 50% but we don't expect that to come anytime soon.
Investors will be a little unhappy to see a lack of specific guidance on margins and an income forecast that was lower than expected. But we think management have been overly cautious with their £13-£13.5bn income guide.
There are other positive developments too.
Mortgage pricing is currently a pain point, as more profitable business written over the pandemic is replaced. But that headwind should ease over 2024.
There's also the benefit from the structural hedge - think of this like a bond portfolio that's set to roll on to better rates over the coming years. Nat West is rolling off some of the lowest rates in the sector, and should be one of the biggest beneficiaries.
The UK banking sector is unloved, but with strong balance sheets and some easing headwinds on the horizon we see potential. Given recent turbulence at the executive level, NatWest's valuation gap to its closest peer, Lloyds, has expanded.
We now see it as having one of the better potential upsides in the sector. Though nothing is guaranteed, and a new leadership team adds risk.
Excerpt from HL - 01/03/2024z
Net interest income was down, offset somewhat by a gain from the smaller non-interest income line (fees). Operating profit fell 11.9% to £1.3bn.
Net interest margin (NIM, a measure of profitability in borrowing/ lending) fell quarter-on-quarter, to 2.86%, slightly higher than markets were expecting. No NIM guidance was provided for 2024.
Retail customer deposits increased £3.5bn quarter-on-quarter, as a dip in current account levels across the client base was more than offset by a rise in longer-term savings balances. The pace of shift from current to term accounts slowed over the quarter.
Arrears remained broadly stable and in line with pre-pandemic levels.
An impairment charge of £126mn was taken over the quarter in expectations for future defaults. The CET1 ratio, a key measure of financial resilience, was 13.4% (target range 13-14%).
Paul Thwaite was confirmed as permanent CEO and the group announced a final dividend of 11.5p, as well as an on-market buyback of up to £300mn over 2024.
The shares rose 2.9% in early trading.
Agreed Cynderlad! Was sent the link to join the CEO chat.
Imho - not convinced of her ability and speech…will be gracious to be proven wrong ofc.
She’ll be easily lead by others on the Dir. board, and advisors ***shaking head***
Alison will be remembered saying “Connect like Crazy” on the back of PJ’s “Build like Fury”.
Tells things that must be done that everyone knows - but not HOW things will be done to increase SP value and improve business.
GLA we’re going to need it on this one.
Hate to say it - but this was exactly what I was talking about when I mentioned last month “Dont get fingers burnt at the top” - esp. Those who bought in at 18p with a large sum - and now harbouring -80% loss.
Cliff has changed his ways - because he’s seen the money he’s made through the years (gone from Dr. who probably cared about his work, and as years gone by he’s been advised this is how you make big bucks - ie. Float on AIM and Pump and Dilute and Repeat).
Those that have been in this for years - when it was all starting off with the companies - there was an RNS very consistently - almost like clockwork - as they released near or exact dates as previous RNS.
Now,it’s whenever - which falls back to alot of AIMs that are established. Once you realise that - it’s either time to move on or shut the draw and wait it out - and hopefully dont forget the password or you even own them lol!
Regarding the AI Company and using some monies they’re going to raise for that - is too late to the party imho (yes AI will be improving and advancing), and once the AI flavour of the years subsides.
That money will be going straight to Cliff’s and Co. pocket in the meantime - and the BS spin off will be the burn rate of the new AI company has to go through and overheads etc. will result in another dilution at the end of the year…..and repeat.
Protect your hard earned cash, and always do your due diligence when buying into AIM esp. those who are new to Tek perhaps because of what they see with recent Microsalt.
GLA & ATB.
@testpack3 - interim dividend was 5.5p which went XD on 23rd Aug 2023 and was paid on 15th Sept 2023.
Upcoming FINAL dividend was was declared on 16th Feb 2024, and due to go XD on 14th March.
It will be 11.5p per share with payment date for this is 29th April 2024.
GLA & ATB
*heard all day
Government and Safe in same sentence ha! That’s the funniest thing I have all day ha!
Good to see this rise for once lol!
Wonder what the Summer has in stall with the Gov sell off.
GLA!