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Guest vicmac64

Ftse100 Two Percent Down - Nowhere Near Bottom

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Barclays is going down.

Singapore's Temasek sold Barclays stake

Singapore state investor Temasek sold its stake in British bank Barclays Plc several months ago at a big loss, people familiar with the matter said on Wednesday.

After spending over 1 billion pounds ($1.66 billion) on the shares in the last two years, unlisted Temasek may have lost over 800 million pounds on the investment, according to calculations by Reuters.

Temasek's sale of shares in Britain's second-biggest bank at a loss is in sharp contrast to Abu Dhabi which sold more than 11 percent of the bank's shares on Tuesday, making a $2.5 billion profit from its investment in just seven months.

Temasek sold its near 2 percent stake in December and January, one of the sources said. The sources declined to be named due to the confidential nature of the investment.

By 0915 GMT Barclays shares were down 4.9 percent at 260 pence, with the European bank sector down 2 percent.

Temasek and Barclays declined to comment, and details of the price it sold at were not known.

Temasek paid 975 million pounds buying Barclays shares at 720 pence apiece in July 2007. It pledged to spend up to 200 million pounds last July to buy more shares at 282p each as part of bigger fundraising, but it never disclosed how many it bought. It would have spent about 90 million pounds to maintain its holding at around 2 percent, giving it 167 million shares.

Only investors with more than 3 percent need to disclose changes in their holdings.

Barclays shares traded between 136p and 167.8p in December and between 47.3p and 190.6p in January, when the shares crashed to a 24-year low on fears Britain's government would need to inject funds to boost its capital. The weighted average for the shares was 148p in December and 105p in January.

Based on the average of those prices, Temasek would have lost about 850 million pounds ($1.4 billion) on its investment.

Barclays shares have soared more than five-fold from its January low after Britain's regulator said its capital was adequate and business and sentiment across the sector improved.

Temasek owns stakes in a number of financial firms, and losses in several of them last year hit the value of its portfolio.

It invested over $5 billion in Merrill Lynch in late 2007 and took a hit of at least $3 billion when it sold its stake in Merrill's new parent Bank of America in the first quarter.

Barclays hit by Abu Dhabi sale

ONE of Barclays' biggest Middle Eastern investors has said it will maintain a "close" relationship with the banking giant despite announcing plans to offload part of its stake.

International Petroleum Investment Corp (Ipic), an investment vehicle of the Abu Dhabi royal family, said it aimed to sell the equivalent of 1.3 billion shares in the bank. The move is set to net a large profit for Ipic, which bought shares in Barclays as part of a £7 billion fundraising from Middle Eastern investors by the bank last October.

But Ipic said the decision was based on its strategy to focus on oil and gas. Khadem Al Qubaisi, an Abu Dhabi royal and managing director of Ipic, added: "The Emirate of Abu Dhabi intends to maintain a close commercial and strategic relationship with Barclays in the future."

The FTSE opened at 4,477 this morning but slipped from recent highs with pressure on banks and mining stocks.

By 11am, the index was 2 per cent lower at 4,388 with Barclays down 5.2 per cent to 259.25p, Lloyds Banking Group down 3.6 per cent to 67p and Royal Bank of Scotland down 3.9 per cent to 36.60p.

BHP Billiton slipped 3.5 per cent to 1,502p, Rio Tinto dropped 2.7 per cent to 2,970p and Anglo American declined 4.6 per cent to 1,810p.

Damn, its murderous today for the banks....good on em.

Edited by cashinmattress

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Guest vicmac64

A mere two percent - a violent but minor correction serves to warn us of a much greater slide to come - this Globalist created recession has only started............

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A mere two percent - a violent but minor correction serves to warn us of a much greater slide to come - this Globalist created recession has only started............

Well, the Sheik selling his stake in Barclays yesterday sent a message to the market.

Too many people live in a fantasy land.

One can only 'paint the tape' for so long until the rest wise up to the game.

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One can only 'paint the tape' for so long until the rest wise up to the game.

Agreed.How long will it be before people realise that Vic is the ultimate contrarian indicator and the inefficieny is removed from the market?

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Guest vicmac64
Agreed.How long will it be before people realise that Vic is the ultimate contrarian indicator and the inefficieny is removed from the market?

They won't because I am not - I know the markets for what they are - to understand the markets you need to understand the grounds upon which they are built - all things return to intrinsic value.

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Guest DissipatedYouthIsValuable
The pretend recovery couldn`t last, could it?

Have you abandoned Faith for Objectivity?

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They won't because I am not - I know the markets for what they are - to understand the markets you need to understand the grounds upon which they are built - all things return to intrinsic value.

How overvalued is the FTSE 100, and on which measure?

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A mere two percent - a violent but minor correction serves to warn us of a much greater slide to come - this Globalist created recession has only started............

Ooh another sage prediction from the worst pundit since bolloxlondonman. Your last prediction was followed by a huge rally from which this minor drop back is occurring.

Twaddle. Absolute twaddle.

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How overvalued is the FTSE 100, and on which measure?

Substantially when measured against future earnings.

Note: Not analyst projected future earnings but actual earnings.

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For this to class as a bear market rally then the previous lows have to be tested again and broken... I for one don't believe they are going to be. I think that the market has seen its low point a few months ago and now whilst things will be up and down and may be more down than up that we won't see previous lows tested.

This clearly doesn't make it a bull market but as new lows will not be established I think technically nor does it make it a bear market....... there must be a phrase for it.. weak bull market ? bullock... or is my thinking ******** ?

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Has Financial Planner posted any more predictions for the FTSE?

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A mere two percent - a violent but minor correction serves to warn us of a much greater slide to come - this Globalist created recession has only started............

Right. A lot of big equities went ex-div today (59 FTSE companies of various sizes). Vodafone is one of the biggest of the big and yields over 6%, so its ex-div adjustment alone accounts for a significant part of that drop. National Grid is another big yield ... etc.

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What actual PE are you seeing?

7-8,

If we get the continued debt deflation, disillusionment with pensions and falling real income share are going to fall I little further down the pecking order in terms of where peoples money goes.

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A mere two percent - a violent but minor correction serves to warn us of a much greater slide to come - this Globalist created recession has only started............

Barclays have risen from about 50 (March) to over 300 and then slipped back to 260 on the IPIC news.

Canny investors are still sitting on considerable profits.

Miners (XTA, VED, AAL, RIO, AQP, LMI, etc) have all had sizeable gains (mostly 200% or better)

since March and have slipped as some profits are taken.

This is neither a "correction" nor is it "violent".

It is hardly even a swathe of profit-taking. (That happened just over two weeks ago.)

It is merely a breather.

The DOW, however, does look slightly overbought during the past few days and could well

drop this week. It seems decidedly undecided.

Not a time for any large investments, in my view.

The ASX is showing signs of upward resistance and is drifting.

A number of FTSE companies that did well in the rally are going sideways or drifting down.

Many investors might have already heeded the saying, "Sell in May and go away, don't come back

till St Ledger's day (September)".

But maybe not, for this is by no means a normal year.

Anyone entering the market now should proceed cautiously --- as always.

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A mere two percent - a violent but minor correction serves to warn us of a much greater slide to come - this Globalist created recession has only started............

Just curious. Why is it that on here pretty well any time the market takes a dip someone starts a thread such as this?

When the market is ahead, as it is this morning by almost 2%, nobody says a word.

Seems to me like a good percentage of the regulars on here are only happy if they are miserable. :lol::lol::lol:

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Just curious. Why is it that on here pretty well any time the market takes a dip someone starts a thread such as this?

When the market is ahead, as it is this morning by almost 2%, nobody says a word.

Seems to me like a good percentage of the regulars on here are only happy if they are miserable. :lol::lol::lol:

ALL the markets are broken, they are trading on manipulated sentiment without almost any fundamentals.

This is a 100 year super cycle event of a magnitude that will drop your jaw next year.

fwiw - domain name driven web type business to me is/are like private number plates, they are worth something because sentiment dictates so, take away the sentiment you have almost nothing, no intrinsic worth.

There is nothing physical in the UK where the business exists in name only......just a few servers. All the physical stuff exists in the far east or the eastern bloc.

edited - the UK is now just a salesman, a middleman, skimming off the top.

Edited by grumpy-old-man-returns

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Just curious. Why is it that on here pretty well any time the market takes a dip someone starts a thread such as this?

When the market is ahead, as it is this morning by almost 2%, nobody says a word.

Seems to me like a good percentage of the regulars on here are only happy if they are miserable. :lol::lol::lol:

The starting of these threads also correlates very strongly with Primary School holiday times. Go figure.

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Just curious. Why is it that on here pretty well any time the market takes a dip someone starts a thread such as this?

When the market is ahead, as it is this morning by almost 2%, nobody says a word.

Seems to me like a good percentage of the regulars on here are only happy if they are miserable.

OK here we go

This is brilliant news the market is up 50 points :D Im so happy (2500 lower since we were Browned though) the pound is massivly down against all major currencys of the world, we are a laughing stock of a nation

Hardly anyone can aford a holiday abroad and look to the likes of Scarborough and Blackpool as our holiday destinations :D Virtually no jobs available :D more redundancy's everyday :D our government in total meltdown :D Mps ripping us off wherever they can :D We are printing money like confetti :D

Oh I could write a book on how happy I am

There Happy now

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