focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
"We are in recession and no amount of sticking plaster and whitewash will fix that."
He's talking about Scotland livestock, and he's correct that "no amount of sticking plaster and whitewash will fix" what the SNP have achieved for the masses up there.
No prizes for guessing why Daft Trader is so active today. You don't have to look at prices anymore just count the number of DT's posts.
LONDON (Reuters) - Britain recorded a smaller-than-expected budget deficit of 14.347 billion pounds ($17.37 billion) in September, the Office for National Statistics said on Friday.
A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 18.3 billion pounds.
Government borrowing between April and September, the first half of the 2023/24 financial year, totalled 81.7 billion pounds, 15.3 billion pounds more than in the first half of the previous financial year.
Another c50 point drop on opening atm, and the invasion hasn't started yet.
MD (Falky) is just finishing his draft post, entitled "I told you so."
Chips will be pleased with gold continuing this month's rally.
And a few losers are still rabbiting on about a democratic vote from seven years ago. You couldn't make that bit up.
Daft trader will be making more contributions than normal, he seems to get excited during a downturn.
Keep yer hand off that buy button for now, or as DT would say DYOR.
Have a good day, the weekend is up on us, I'll be down the juicer later.
Just saying.
Today was another quiet sell off day, with the FTSE making its displeasure with the middle east known. Costing me and many others thousands. Same as the Lloyds BB, very quiet. Then it all kicked off, a sudden explosion of posts! Let's hope the only thing kicking off is this BB, otherwise the debate will change rapidly. A 7500 point FTSE might be something that we all would wish for.
Funny old world.
PoundSterlingLIVE - A major UK-based bank has upgraded its UK growth forecasts following the sizeable revisions recently announced by the ONS and the economy's resilient performance in the first half of 2023.
Standard Chartered (LON:STAN) says a lower terminal rate at the Bank of England than was previously expected should also ameliorate growth headwinds in 2024.
"We previously anticipated a three-quarter recession beginning in Q4 this year, but that was predicated on the Bank of England taking the base rate to 5.75%. A terminal rate of just 5.25% (now our base case, supported by this week’s inflation and labour-market data) could be sufficient to avoid the onset of a technical recession," says Christopher Graham, an economist at Standard Chartered.
Not obsessed with the Scots at all Ww. It's just that we've had to endure years of the likes of the chuckle brothers spouting their bile at the English and how things would be different when "we gain independence."
Well that ain't gonna happen, not in your lifetime or the chuckle brothers for that matter.
If you can't take it don't give it. I'm not saying that you are one of the antagonists, but you'll get dragged into the argument by defending them.
Whilst on the subject of Humza Useless. I hear he's calling for the UK, that's the UK to take Gaza refugees. He well knows that Scotland's record on recieving refugees is abysmal. No-one wants to stay in Scotland (and who could blame them) they'll all come South eventually.
Heard recently.... "Not all Gaza residents are Hamas members, but they “are all antisemitic."
London has taken the title as home to the largest stock market in Europe, according to Bloomberg. The city overtakes Paris, despite all the doomsayers warning that London would plummet down the rankings following Brexit…
Julian Jessop from the Institute of Economic Affairs pointed to the new figures on X, writing: “No sign of a significant hit from #Brexit”.
"The SP falls and the usual muppets appear."
I wonder who that could be? No names (well not his real one). But I've noticed a sudden flurry of posts from our resident doomster who always runs true to form. And again doesn't disappoint….Daft Trader.
As always DYOR 😂
Report from ii.
Now with almost 4 years of data, interactive investor, the UK’s second largest investment platform for private investors, has published its latest Private Investor Performance Index* to 30 September 2023.
The index has chartered some extraordinary highs and lows in both bond and equity markets, and it shows, with some subtle but significant shifts in customer behaviour.
The average ii customer is up 8.2% since 1 January 2020, lagging the major indices, but slightly ahead of professional fund managers as measured by the IA Mixed Investment 40-85% Shares sector, up 7.7%. Women have outperformed men by one percentage point, not insubstantial in a lower growth environment.
There’s been some strong double-digit returns over the past three years, with the average customer up 18.2%, well ahead of professional managers as measured by the IA Mixed Investment 40-85% sector, up 10.3%. It continues…
https://www.ii.co.uk/private-investor-index?utm_source=campaign&utm_medium=email&utm_campaign=Private%20Investor%20Performance%20Index%20Q3%202023%2020231016&utm_content=campaign&utm_source=sfmc&utm_medium=email&utm_campaign=Private+Investor+Index_Q3+2023&utm_term=https%3a%2f%2fwww.ii.co.uk%2fprivate-investor-index%3f%%%3dv(%40UTM)%3d%%&utm_id=113535&sfmc_id=5983113
"Our private investor performance index continues to be the only barometer of its kind to truly take the temperature of how retail investors are faring in these extraordinary times."
"Last Friday a Human Resources Director at Lloyds Banking Group, Sarah Underhill (pronouns She/Her), wrote an email to 30,000 Lloyds staff offering them counselling if they were triggered by the rhetoric heard at that week’s Conservative Party conference:
If Tory rhetoric was too much for Lloyds staff and Sarah Underhill last week, today’s news that Lloyds Bank has opened bank accounts for Nigel Farage will be a bit of a shock for her. She may herself now need counselling…
Given how Nigel Farage’s mere breathing triggers wokesters, Lloyds may need to up their BUPA premiums"....
Why do we employ and pander to these easily offended bunch of wusses. They just can't stand the truth.
Jeremy Hunt, this is why all these decisions are difficult.
Here's the clue, "speaking in Marrakesh", he's been on the ganja. Apart from the munchies, that wacky backy always did upset your thought processes.
Just saying.
Never heard of him, another piece of useless information, but relevent to Lloyds (same as my previous post).
Suresh Balaji, former Chief Marketing Officer (CMO) for HSBC’s Asia-Pacific region and Global Head of Marketing and Communications at Standard Chartered (OTC:SCBFF) Bank, will assume the role of CMO at Lloyds Banking Group (LON:LLOY) from Monday. This move comes after Balaji relocated from Hong Kong to the UK.
Balaji will oversee the group-wide Brand, Marketing, and Experience function at Lloyds, a banking group with an adjusted market capitalization of $33,191.27M USD according to InvestingPro data. His responsibilities will include managing the Group's brand portfolio, strategizing marketing initiatives, fostering creativity, and tailoring customer experiences to enhance business growth. These tasks will be crucial in sustaining the revenue growth of Lloyds, which has accelerated to 14.99% as per the latest Investing Pro metrics.
Yesterday on BBC Radio Lincolnshire, the Labour leader claimed that Labour’s parliamentary candidate Hamish Falconer had secured a £300 million investment for the redevelopment of RAF Scampton, intended for the construction of homes, restaurants, and bars. Starmer claimed Falconer had “negotiated” the private investment himself. In reality, the £300 million was actually secured by the then Conservative-led West Lindsey District Council…
He was quickly rebuffed by the presenter:
“Hang on, no he hasn’t. No, let’s correct that straightaway. The £300 million was already on the table. It was actually secured by the then Conservative West Lindsey District Council, they came to that arrangement that was announced months ago. So it’s not your candidate that secured that.”
This from the man who wants to ‘restore trust in politics’…and the idiots here think they've got a unique honest politician and believe his every word.
Naive comes to mind.
Metro Bank, a challenger in the UK retail banking sector, is facing an uphill battle against established players such as Barclays (LON:BARC), Lloyds Banking Group (LON:LLOY), HSBC (LON:HSBA), and NatWest (LON:NWG). Despite regulatory backing and lobbying for more lenient risk-weighted asset calculation models, gaining market share has proven to be a slow and costly process for these emerging banks.
On Friday, it was reported that Metro Bank recently raised £325 million ($444 million) in emergency capital following a drop in share value due to delayed regulatory approval for its internal credit model. This comes alongside a significant debt refinancing effort of £600 million ($820 million). The bank's business model, which includes operating high-cost branches for extended hours and maintaining a 90% cost-to-income ratio, has been criticized when compared to rival challenger OneSavings Bank.
I just wonder, where are the Lloyds moaners who jumped ship here to join the Metro gravy train?
; BoE survey.
LONDON (Reuters) - British lenders expect to curb the availability of mortgages in the next three months, a Bank of England survey showed on Thursday. The BoE's quarterly Credit Conditions Survey also showed lenders thought defaults on secured loans and on credit cards and other loans would increase.
Lloyds is well covered.