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Was too late for the budget yesterday so when I got home I decided to YouTube it. Turns out I watched the live debate after the event, once everyone had gone home for their all expenses paid dinner no doubt which includes wine of course. Anyhow back to the subject in hand, I caught the back end of a question to Mr Hunt on tidal energy and Mr Hunt stated that he was actually looking into more funding for the sector and that tidal is looking like a promising sector.. not exact words as such but something along then lines. I was stirring my brew at the time and rushed in from the kitchen once I heard the subject. Did anyone else get to grips what was being said it was around 4 oclockish?
If the market reacts negative to labour resignations today that should tell you everything you need to know about our free market economy.
Blimey the markets are going to love tonights resignations.
Third quarter 2023 results:
EPS: UK£0.02 (up from UK£0.016 in 3Q 2022).
Revenue: UK£4.42b (up 14% from 3Q 2022).
Net income: UK£1.66b (up 20% from 3Q 2022).
Profit margin: 38% (up from 36% in 3Q 2022). The increase in margin was driven by higher revenue.
Great confident move. Seems somebody is listening to some on here about ownership and accountability. Perhaps something else is to come off this move on the news front also. If it does I can see no other reason but a positive one. ATB
Tomateo tomatoe. The banks will get abused either way.
The FCA report on Farrage is an absolute white wash and proof if ever there was that the London financial regulators are corrupt and do not have your interest as a private investor at heart. They represent the big boys reeling you in for the sharks to eat. The BOE and HMG are also working with the sharks. Why would you risk money in the stock market when you can now get near 6% in an instant access ISA. I've been saying for years that back door communism has been flooding the market, what I truly did not understand was that it's actually companies that made their money on the free markets buying up all the competition or killing it to the point they now seem to fear the free market that actually built them and our capitalist culture.
Either these big conglomerates need to be taxed to the hilt on their size or areas of business need to be sold off as was done with the banks to allow competition and growth. It seems to me the banks know this is coming and are ahead of the curve to some extent. You could argue they were warned to position themselves for the eventual onslaught on big business. The free market is like our economy, stagnating with very little growth by design of those in charge.
BOE, HMG and FCA in charge of the moves that will either make us or brake us. It seems they are breaking us be it by design or accident. They are all blaming each other all the while being all to blame wether by action or lack thereof. 6% tax free with a safety net of Up to £85000 surely must be a better option than the not so free market.
Please correct me if I'm wrong. I'm seriously interested in people's opinions on what our free market situation is. Willing to digest and learn but I can't shake the feeling that this market is as close to collapse as it's ever been and I'm working on the 6% pa tax free with added security route myself.
I was lucky enough to be one of the few the market made good, but the deeper I look the signals are telling me to be one of the lucky ones again by getting out.
The only thing I'm surprised with is, why this old nag hasn't gone too the nackers yard yet. Same old drivel on this forum as there has been for the last 10 +years. I did expect 36p after everyone offloaded there stock just after ex div date. Still in sure the big boys will be buying back in cheaper come full year divi announcement. The jam tomorrow loop never fails to fail as per. See you all in April for more of the same ol' cr4p.
Absolutely WEFminster who follow suit. No difference in labour and Tory policy desire the rhetoric they chant. Proof of ever there will be that we never left the EU. It was just Orchestrated Theatre to appease the masses.
The jam tomorrow brigade were out in full force the other month, and we were all telling them very predictable and repeated history of this pit pony. Ney yelling it at them. Still they refused to listen with constant jibes of shorters and the such. Yet here we are in the ever constant loop of doom that was always there to be foreseen by the novice long term investor. The BOD needs sacking. Government needs to get its greasy hands out of the PIs pocket by way of so called " independent" outfits making legislation that's killing the banks very own independence making it less competitive under the guise of safety nets etc.
Capitalism was not built without risks. Backdoor communist influence in our markets making it for for the NWO. WEFminster will hold on to these institutions of capitalism ensuring the peaceful handover of empires. Good bye empire states hello the silk belt road. Position yourselves for a huge coming change in his the markets are ALLOWED to operate. Gluck all.
It's more Chips and Jam tomorrow. Just let it go and come back next year if your lucky we will have gained 2p by then with a 4 billion pound buyback completed but I wouldn't bank on it. In the near term expect NatWest to out perform Lloyds today even though the BOD is near complete collapse.... Perhaps that's what we need here... Very strange times indeed. :)
Just nipped in here to say, every private investor should be aware that with public opinion (even if not Tories) swinging to the right means that what has happened here can quite easily happen to there investments. I think we will find that those who have played their part in the cancel culture will now be held to account more so now. The wokeness is rife within big business in the UK and not just in banks either. You have been warned. WEFminster needs to get out of big business back pocket and back into the breast pocket close to the heart of the electorate and this is the only way.
T the been doing that for a few years now and it's had absolutely zero effect. Any good news ever is always wiped out. .. and now they want to become UKs biggest landlord just as landlords are pulling out. Ensuring the HMG created housing bubble continues to stretch at the seams..... Who do you think is going to end up paying for it? Correct either way the Lloyds share holder is going to cop for it for a few years yet. See you all next year when things have not changed atb.
Someone on here mentioned back door communism a few years back. WEFminster no matter the ruling party. No difference in policy etc. It truly is a globalist party out there no matter what the electorates feelings or votes.
It's the jam tomorrow syndrome. It's been happening since HMG got there dirty little mits on the bank. Everytime the bank has any good news you usually have the FCA, BOE or HMG step in the banks limelight dimming any shone on the banks. With predictions, legislation etc. Then all you get from those day traders is never mind more jam tomorrow. Same time next year then folks ATB.
215,133 @ 0.1130 :( there's always someone worse off. I'm hoping... Ney praying that these take a huge swing to the positive however my head says no. I wish my head spoke to me more clearly before I got involved here. Still while there is a glimmer of hope I will cling to it.
No it is not always. It's times like these banks really value those people that can pay the mortgage or sofa loan etc. I don't think it helps the british banks cause as we all wait with baited breath on how much of the PI's profits the FCA are going to give away and if this will affect divis etc. Looking like you may get better savings rates with no risk as apposed to owning stock. Demand for stock will reduce due to common sense and if you own stock, you may be hard pushed to get the price you paid let alone a small profit. Simplicity at its best and all IMHO.
My guess FCA comes in with more stringent bank stifling regulations acting "in dependent" (space deliberate) of HMG and BOE of course. Blocking dividends because banks have to be... Blah blah blah...
FFS how long is it until Trump gets back in?
"Lloyds profiteering" now that's a back door Communist statement if ever I've heard one. There was me thinking the free market existed. When will HMG let this go? It seems that it's forever indebted to what ever government is making a mess of the country at the time. There's absolutely no difference between a conservative or labour government. They all want to manipulate the free market. I personally think this is a peaceful handover of empires from the US to China, I can't see any other logical reason for the last few years of deliberately destroying Western economy's. Final nail in the coffin will be the very huge bubble made by Western governments crashing. Ohhh wait a minute Lloyds going into landlord business means the crash is a certainty not a possibility. What an absolute pith take off the share holders this company has performed 15yrs. Never mind though I believe we heading to the moon to mine Jam so I've been told since 2010
... begging economic with the truth as per..
(Alliance News) - JPMorgan on Monday warned that high street lenders, Lloyds Banking Group PLC, Barclays PLC and NatWest Group PLC, face a profit squeeze in the event of a hard-landing for the UK economy.
"With the scenario of further rate hikes well into restrictive territory now on the table, our house view is that probability of a hard landing for the UK economy is higher," Raul Sinha at JPMorgan said.
As a result, "we now expect earnings per share cuts for the UK banks to intensify with risks to capital return and asset quality".
The broker has cut its "already below consensus" earnings per share forecasts by 3% and 9% for 2024 and 2025 respectively, assuming UK interest rates peak at 5.75%.
Last Thursday, the Bank of England, surprised the City with a 50 basis point hike in interest rates to 5%. The BoE has now hiked for 13 meetings in succession.
The move followed last Wednesday's red-hot consumer price index data, which showed the UK's stubborn annual inflation rate remained at 8.7% last month, which put the half-point increase on the table.
Lenders have been criticised for failing to pass on the benefits of the rate increases to savers, with accusations of profiteering. There is growing clamour for the banks to act, and industry chiefs were hauled in to meet Chancellor Jeremy Hunt last week to address the issue, as part of wide-ranging talks regarding the sector.
JPMorgan sees a potential risk to near-term net interest income due to increased political pressure that may push for banks to pass on the full effect of interest rate changes to their interest-earning customers.
This pass-through is likely to have negative implications for deposit migration and loan books, Sinha thinks.
"Given the strong capital position and above normalized profitability of the UK banks, we also see increased political risks to earnings in the form of forbearance, pricing and windfall taxes, especially into 2024 with the election coming into view," Sinha added.
JPMorgan downgraded Lloyds to 'underweight' from 'neutral' and slashed its price target by 25% to 42 pence from 56p.
The broker prefers Barclays, which it rates 'overweight' and NatWest, rated 'neutral'. The price target for Barclays was lowered 14% to 180p from 210p and for NatWest by 19% to 260p from 320p.
Shares in Lloyds fell 0.6% to 42.09p, Barclays eased 0.7% to 144.14p but NatWest recouped early losses to close 0.7% higher at 230.90p on Monday in London.
By Jeremy Cutler, Alliance News reporter