Jump to content
House Price Crash Forum
Sign in to follow this  
karhu

Nrk Sp Falling Off A Cliff Again

Recommended Posts

http://investing.reuters.co.uk/news/articl...ROCK-URGENT.XML

LONDON, Sept 19 (Reuters) - Shares in embattled bank Northern Rock (NRK.L: Quote, Profile , Research) tumbled on Wednesday, losing early gains as stake sales from two investors reignited concerns over the bank's future and talk of heavily discounted takeover bids.

At 0913 GMT, the bank's shares were down 16 percent at 257 pence, making it the top FTSE loser. It earlier touched an order book high of 335 pence.

"There is uncertainty over the future of Northern Rock. There is no clear cut direction," a trader said. "Obviously, the big shareholders are dumping their stake. It does clearly illustrate that in the short term there is no immediate takeover possibility."

Investors Baillie Gifford and Lloyds TSB (LLOY.L: Quote, Profile , Research) have both cut their stakes in the bank, according to regulatory filings.

Traders also cited speculation of cut-price bids for Northern Rock from mortgage bank HBOS (HBOS.L: Quote, Profile , Research), at 100 pence a share, and from Lloyds TSB at 200 pence a share.

Share this post


Link to post
Share on other sites

What's wrong with you guys? Are you wimps? Ain't these things a big, fat buy now that Gordo has opened our wallet? :lol:

As I said yesterday, the only thing I could ever do with NR is sell short. I simply could never buy such a stock. Too fcking scary.

Here we go with the giant volatility. Everything is going to do a samba for a long time to come. If you can catch a wave with a tiny position you're quid's in.

Where's cable? Is it going to crash or is the dollar crashing today? Maybe today the dollar will crash today and tomorrow sterling will crash?

When I first started trading currencies I thought up a cool expression but as I'm not famous nobody ever used it, but I fancy myself as writer (having written a novel of deep and profound beauty ;) ) so here it is, and in current conditions it will actually make sense to people who don't understand currencies at all:

The currency markets crash a hundred times a day.

This is something one feels when trading and the reason it is felt is because one is trading on massive leverage, therefore tiny movements (imperceptible to reporters or economists) feel like massive drops and great leaps.

But today's markets are entering a period of unprecedented volatility that is so great that it will magnify such apparent behaviour into the REAL economy.

(I hate that expression; 'real' economy. Only someone without any understanding of economics could use it - and I just did. There is no such thing as an economy that is not real. No such thing as a price movement that has no effect on the 'real economy'. It's just that some people have more sensitive detection systems.)

No sensitive detection systems will be required in the market action we are about to witness.

Edited by dstars

Share this post


Link to post
Share on other sites
Rumours that LLoyds have £2 a share.

Quantatative models all over the City will be screaming a buy. Dickheads who told programmers to build such systems will be declaring that they should not second-guess their systems.

My system says; sell everything for a long time (unless it's a basic commodity).

The stock markets can go up another thousand points for all I care; it'll just make the dive look all the more beautiful when it happens.

Share this post


Link to post
Share on other sites
Quantatative models all over the City will be screaming a buy. Dickheads who told programmers to build such systems will be declaring that they should not second-guess their systems.

My system says; sell everything for a long time (unless it's a basic commodity).

The stock markets can go up another thousand points for all I care; it'll just make the dive look all the more beautiful when it happens.

Like Keira Knightley's swan dive in Atonement (THE MOVIE) perhaps...marvelously executed. And all in the spirit of penance for past sins...

Share this post


Link to post
Share on other sites

100p a share would value NRK at around the £400 million mark, which is quite frankly most astounding. It absolutely suggest that things at NRK are much, much, much worse than any can image. It must certainly not be a solvent business, considering the accounts that I have seen, i.e. there goes the Govt backing of depositor's £££.

NRK is going down big time. I think the big boys only want the prime mortgages, the rest is going to have to be liquidated and looks like the BoE may have to stand some losses here :o .

Share this post


Link to post
Share on other sites
NRK is going down big time. I think the big boys only want the prime mortgages, the rest is going to have to be liquidated and looks like the BoE may have to stand some losses here :o .

No, looks like the taxpayer will have to take some losses here :lol::lol::unsure:

Share this post


Link to post
Share on other sites
100p a share would value NRK at around the £400 million mark, which is quite frankly most astounding. It absolutely suggest that things at NRK are much, much, much worse than any can image. It must certainly not be a solvent business, considering the accounts that I have seen, i.e. there goes the Govt backing of depositor's £££.

NRK is going down big time. I think the big boys only want the prime mortgages, the rest is going to have to be liquidated and looks like the BoE may have to stand some losses here :o .

Presumably in the same way they don't want to lend to each other, they probably don't really want to take over each other either, so there is a big risk premium attached to any offer.

Poor old government, eh. Damned if they don't (recession, deflation), complete ******ing disaster if they do (stagflation, maybe even the cgnao hyper inflation).

I pick...

complete ******ing disaster.

Good old Prudence, he wanted power so badly. Be careful what you wish for, particularly when you are then put in charge of the man who has to clean up your ******ing mess

Share this post


Link to post
Share on other sites
Why don't the BoE force NR to take the 200p or withdraw their support?

I think you're very close to the mark. However, I'll believe 200p a share when I see it. It may be less and causing even the most desperate to think twice....

Share this post


Link to post
Share on other sites
HBOS is not bidding for beleaguered mortgage

lender Northern Rock, sources familiar with the situation told Thomson Financial

News.

"It's not true," said the source in response to rumours earlier today that

HBOS was in the process of offering 100 pence per share for Northern Rock.

At 10.50 am Northern Rock shares were down over 9 pct, or 28 pence, at 276.

HBOS refused to comment.

http://orange.advfn.com/news_HBOS-not-bidd...s_22317893.html

Share this post


Link to post
Share on other sites
No, looks like the taxpayer will have to take some losses here :lol::lol::unsure:

Am i missing something here? Where is the taxpayer paying for anything with NR?

The BoE had not given a penny over. The government promised to cover peoples deposits. This would only be the case if the company was wound up and all is assets were liquidated.

If NR is taken over, depositors money is safe and therefore the government has not had to pay out any money to NR savers

Share this post


Link to post
Share on other sites
No, looks like the taxpayer will have to take some losses here :lol::lol::unsure:

Am i missing something here? Where is the taxpayer paying for anything with NR?

The BoE had not given a penny over. The government promised to cover peoples deposits. This would only be the case if the company was wound up and all is assets were liquidated.

If NR is taken over, depositors money is safe and therefore the government has not had to pay out any money to NR savers

Share this post


Link to post
Share on other sites
Am i missing something here? Where is the taxpayer paying for anything with NR?

The BoE had not given a penny over. The government promised to cover peoples deposits. This would only be the case if the company was wound up and all is assets were liquidated.

If NR is taken over, depositors money is safe and therefore the government has not had to pay out any money to NR savers

Who would want to take over NRK lock, stock & barrel? In circumstances like this the bidder would want the tender cuts of meat and not the fat. There are many ways of achieving this (and who better than a bank to know how to do this), some of which may not benefit: the shareholders, the depositors, the mortgage holders. I've seen quite a few companies wound up by banks (they do it every day and are experts) and it is an extremely ruthless process; NRK will be no different.

Share this post


Link to post
Share on other sites
No, looks like the taxpayer will have to take some losses here :lol::lol::unsure:

Am i missing something here? Where is the taxpayer paying for anything with NR?

The BoE had not given a penny over. The government promised to cover peoples deposits. This would only be the case if the company was wound up and all is assets were liquidated.

If NR is taken over, depositors money is safe and therefore the government has not had to pay out any money to NR savers

Share this post


Link to post
Share on other sites
Caught something on Bloomberg about the EU issuing a statement to the effect that governments cannot interfere in private banking situations.

They should try telling that to Bernanke & King.

Share this post


Link to post
Share on other sites
100p a share would value NRK at around the £400 million mark, which is quite frankly most astounding. It absolutely suggest that things at NRK are much, much, much worse than any can image. It must certainly not be a solvent business, considering the accounts that I have seen, i.e. there goes the Govt backing of depositor's £££.

NRK is going down big time. I think the big boys only want the prime mortgages, the rest is going to have to be liquidated and looks like the BoE may have to stand some losses here :o .

Spot on, just heard HBOS £400 million and Lloyds £800. I have heard they have a really good quality mortgage book wonder why no one wants it? :lol::lol:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 355 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.