Member Info for Parfett123

Will it bounce back quickly?!

Production from last quarter! As updates go that's a good one

Thanks for the feedback, definitely a share I would be willing to trade but I only have a small holding and will DRIP for a few years unless something major goes wrong.

on the drop. Let's see where it goes!

Staying for the growth!

thats just a weak effort

for the ride

Better

Only down to 6.97% on short tracker??!!

has it ever occured to you that this way of thinking is the very reason why it is so.........

Can the leadership really not understand why shareholders might be upset with current management! The lack of self awareness is quite incredible!

because why would they appoint someone permenantly for Mtro to be bought out/talen private soon. Food for thought

222 and falling - the rollacoaster continues

Hi Cud,

Again, you have quoted an email but we havent seen any proof, only 'a guy said.....'. Not a de ramper, just holding you to the standards to insist of others who quote sources....

That even if we finish 230 we are up for the week. Calm down people, 275 was cool but without hard news to back up the rise, this was always going to pull back. Be greatfull it's not fallen all the way to £2. If you are in profit then sell if you want to sell, if you dont hold shares then it doesn't matter what you say as & if your a LTH then just hold and wait...... until we have an RNS it is all just rumours, until that point I will take a week on week recovery.

Shares in troubled lender Metro Bank PLC (LON:MTRO) bounced back on Friday amid rumours in the Square Mile that it could be a takeover target for Lloyds Banking Group PLC (LON:LLOY).

A market report in the Evening Standard, citing a “thick-wristed Merlot man” in the City wine bar, said the chances of a deal in the New Year were “six out of 10”.

READ: Metro Bank jumps on search for "right balance" of growth
It went on to say that a takeover would make sense for both parties due to Metro Bank’s current lending costs, which are “so high that writing new mortgage business isn’t profitable” and the bank will need a stronger partner to grow.

The acquisition will also be of benefit to Lloyds, the rumour mill said, as Metro was currently trading at “less than a quarter of book value, so Lloyds gets to pick up the assets cheaply”.

“What would Lloyds do with the brand and branches? I suppose it could keep it separate, but if you are paying that little you can afford to keep what you want and chuck away the rest”, the report went on to say.

Metro Bank has been in a vulnerable state since early 2019 after revelations of an accounting blunder in February sent its shares plunging. As of close on 31 October, the bank’s stock is 87% lower than at the start of January.

Since then, the bank has been forced to raise £375mln in a cash call to keep itself afloat, while its co-founder, US businessman Vernon Hill, stepped down as chairman with immediate effect last week.

Metro’s fragile financial position means a Lloyds takeover would be “welcomed by the regulator”, the report said, while the steep decline in the shares will allow the bank’s boss, Antonio Horta-Osorio, “could buy it with the change in his back pocket were he minded”.

In lunchtime trading, Metro Bank’s shares were 9% higher at 221p, while Lloyds was up 0.3% at 57p.

they didnt lose money, they made 2 billion profit in a quater if you dont take into account the PPI claims, which have now finished and will be having their final impacts on their books. Make no mistake, they make a shed load of cash, more than enough to pick MTRO without breaking a sweat.

I wrote prior, evening standard. Google it

IS LLOYDS lining up a bid for troubled Metro Bank? The City rumour machine reckons it might be, noting that such a deal would be welcomed by the regulator, said to be concerned by Metro Bank’s declining financial position.

The recent departure of chairman and founder Vernon Hill could clear the way for a rescue bid from Lloyds Banking Group, which yesterday reported a 97% plunge in third-quarter profits. It was biffed by set-asides for PPI and wider economic gloom that have seen its shares left in limbo. Today they were down 1p to 56p, which leaves the bank valued at £39.5 billion.

Metro Bank shares have crashed so spectacularly, off again by 1.6p to 201.2p, that it is worth just £346 million. This means Lloyds boss Antonio Horta-Osorio could buy it with the change in his back pocket were he minded. The man in the City wine bar with the chunky cufflinks reckons the deal could be done in the New Year. He’s been right before (and wrong before). A six out of 10 shot this time, he reckons.

Metro Bank recently raised a muchneeded £300 million from a bond that pays an extraordinary 9.5%. “Any company that has to pay near10% interest to raise funds is going to be vulnerable, especially if they are a bank,” says the thick-wristed Merlot man. City analysts think a Metro Bank takeover by Lloyds makes sense for at least two reasons. First, Metro Bank’s funding costs are so high that writing new mortgage business isn’t profitable, so it needs a stronger partner to grow. Second, it’s a snip. “Metro is trading at less than a quarter of book value, so Lloyds gets to pick up the assets cheaply,” says a bank scribbler. “What would Lloyds do with the brand and branches? I suppose it could keep it separate, but if you are paying that little you can afford to keep what you want and chuck away the rest.” Neither Lloyds nor Metro Bank had any comment.

Enjoying the Brexit uncertainty was TP Icap. The interdealer broker reported a jump in trading over the summer which saw revenues rise 17% to £478 million. The shares were up 1.6p to 344.5p. On an otherwise quiet day for chatter, the FTSE 100 mostly trod water, up 25.16 to 7273.54. The FTSE 250 did the same, edging up 44.80

Market report: Is Lloyds pondering a bid for Metro Bank?