Member Info for Peltata

To knock the oil price, with his tweet on more China tariffs he’s taken 2% off of WTI. Early trading to say the least but not a great start to the week.

Ouch, but not as bad as it could have been, thanks for lowering my expectations before I checked!

about Metro, is there a journalist’s strike :-)

Profits are down but still making a profit - how many companies have made yearly loss after yearly loss in an attempt to turn things around? Increasing debt as they go. BOD needs to change, with the equity raise promised this month its a good test to see if details are finally released, if not that’s a big concern.

Seems this sort of legal action has been discussed in the press over the past 4 months so a lot of its potential for damages is priced in? https://www.google.co.uk/amp/s/www.thisismoney.co.uk/money/markets/article-6658553/amp/After-shareholders-lose-1-1bn-finance-gaffe-Metro-Bank-facing-investor-lawsuit.html

Ahhh the PFG days, remember it well, SP just going down down down then up 71% when the RI details were announced! That was a wild ride, not something I expected to repeat but always possible with a shorts very high now :-)

Saying you need an RI with no price to accompany it will inevitably bring the SP down, so why do it? To sweeten the deal for who and for what equity structure?

So will always price for the worst case scenario, a rocky month ahead but hopefully with some certainty by the end - unless the spirit of Theresa May is lurking on the BOD!

“Equity raise to support further growth anticipated in 2Q 2019 as previously announced, with committed standby underwrite in place with RBC Capital Markets, Jefferies and KBW. It remains our intention to target a minimum CET1 ratio of 12% and a regulatory leverage ratio above 4%.” - so 2Q leaves the next 4 weeks for the RI. At least the waiting is nearly over!

Is there no update this morning posted by Metro? Only the call after COB? The size of the placing was leaked mid- afternoon iirc hope nothing like that is in the offing.

Certainly was an interesting article - I recall WTI is <0.5% sulphur so it could tighten the spread with Brent when restrictions come in.

I can understand if they’re trading on behalf of a client then GS just follow instructions but these RNS are daily varying by tiny amounts. Maybe they’re super hot on the paperwork after the Malaysia debacle:-)

Whilst I’d expect correlation between SP and Brent, the spikes in the oil price make only a small difference to revenues - sustained higher priced oil bring in cash that can be used to payoff debt, this would really boost the SP. So hoping for no backtracking on Iran oil sanctions and for Saudi/Russia to be content with current income, with no temptation to up supply too much - can either resist??

Q1 results are on May 1st after COB.

Thanks Withoutt, can see why this caused the jump that it did. Hopefully we’ll see no back tracking on this and enjoy the lift it has to (?) deliver tomorrow to pmo.

What’s causing the rise? And is Trump getting ready to tweet?

Granted putting your only egg in one basket is extreme, but on the other hand a very diversified portfolio is for the wealthy. Most of us in the middle should be open to more risk if the opportunity arises. With PMO I was in ~65 so happy so far but with debt going down and zama3 to report back soon I’m staying in and keeping a close watch on the oil price. All brokers rate a strong buy as well which is way better than a mixed bag.

https://www.bloomberg.com/news/articles/2019-04-08/norway-is-walking-away-from-billions-of-barrels-of-oil-and-gas

to shake the EUs cage and knock Brent at the same time - 2 birds 1 stone

Good weekend all. I’ll just forget about my metro shares and enjoy this for now :-)