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Hbos Shares Climb On Bbva Takeover Talk

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http://www.telegraph.co.uk/money/main.jhtm.../bcnhbos123.xml

HBOS, which owns Halifax and Bank of Scotland, has seen its shares jump today, on the back of takeover rumours and hopes of a broad recovery across the financial sector.

Talk of a bid interest from Spanish rival BBVA helped shares in the lender climb more than 12pc, traders said.

A deal to take on HBOS would be a radical departure for BBVA, Spain's second-largest bank, which has focused its expansion on emerging markets in Latin America and China and in the southern United States.

A genuine rumour or a good way for the underwriters to dump their shares for a profit.

Not that bankers would use rumours to generate profits in any sort of way.......

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http://www.independent.co.uk/news/business...ort-874929.html

An outstanding trade, or just too clever by half? Morgan Stanley made a small killing when it shorted 2.25 per cent of HBOS last Friday. What's raised eyebrows is that it was also one of two lead underwriters to the HBOS rights issue that had closed that very morning. It therefore knew it would be able to close out its short positions at a substantial profit with the shares it was about to be left with as a result of being a prime underwriter.

Morgan Stanley insists it did nothing wrong, and, indeed, that the Financial Services Authority was kept informed throughout. Unlike underwriters to the Royal Bank of Scotland rights issue, it took out no direct short position while the rights issue was in progress, though it did engage actively in other hedging strategies. However, in terms of directly undermining an issue which it was underwriting, its hands were clean. The same could not be said of underwriters to RBS.

With HBOS, it was only after the rights issue closed that the direct short position was taken. By that stage, it was widely assumed in the stock market the rights issue had flopped, though only Morgan Stanley's client relationship team would have known quite how badly. Even if the traders responsible for the short position had been able to take a peep over the Chinese wall to see the full damage – the issue was only 8.3 per cent subscribed – it would have made no difference to their actions. As it is, Morgan Stanley insists there was no such snooping.

Overnight relief at trading news from Citi had that morning boosted the whole banking sector, so the HBOS share price briefly broke back through the rights issue price. In order to satisfy market demand for the stock, most of it from hedge funds looking to close out their own short positions, Morgan Stanley itself shorted the shares knowing full well the positions would be covered by the underwriters' stick.

The laughable part of this everyday story of City money-making jiggery-pokery is that, were it not for new FSA rules requiring the disclosure of short positions, no one would ever have known that the trade had taken place and it would by now already have been lost in the mists of time.

Hmmmmm

Nothing suspicious at all........

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What is it with Spanish banks? I'd have expected Spanish banks to be in among the worst shapes - since their property market is even more visibly deteriorating than the one in the UK.

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Perhaps they are hoping for the UK taxpayer to bail them out as well. We might as well where rolling in cash at the moment.

Takeover a UK bank, oops the Spanish property markets collapses, huge losses then go and see Mystic and Darling plead poverty if you don't give us cash that £200bn in savings that HBoS has is going to disappear as the Spanish housing market has bankrupted us. Can we have a blank cheque please.

I can see the headlines now.........

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http://business.timesonline.co.uk/tol/busi...icle4385150.ece

Shares in moneysupermarket.com, the price comparison website, today soared by 45 per cent after it admitted it had received, and subsequently rejected a takeover approach.

The company said Simon Nixon, its founder and chief executive, had received an approach "in his capacity as 54 per cent shareholder in the company".

moneysupermarket.com said: "The unsolicited approach did not contain indicative terms for any offer and has been rejected by Mr Nixon."

Today's rise in shares, up 32.23p to 101.25, values moneysupermarket.com at £503.1 million compared to yesterday's closing capitalisation of £342 million.

A great way to boost your shareprice get someone to make an unsolicited approach put it out in a press release instant share price increase. God the City is full of sheeple....

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The Spanish Banks have had enough of Brits sending back the keys on their Spanish properties and disappearing back to the UK. If they take over UK banks, they´ve got all those lovely names and addresses and access to debt recovery

companies to chase these people. :lol:

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Perhaps they are hoping for the UK taxpayer to bail them out as well. We might as well where rolling in cash at the moment.

I can see the headlines now.........

So can I....'Princess Di seen alive and well and living over a chip shop in Leeds.'

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What is it with Spanish banks? I'd have expected Spanish banks to be in among the worst shapes - since their property market is even more visibly deteriorating than the one in the UK.

Brits buy houses in Spain

Brits get mortgages to buy houses in Spain from British Banks

Brits drive up Spanish property prices to ridiculous levels

Brits can no longer afford to keep up mortgage payments

POP!

British banks go bankrupt

Spanish banks buy British banks.

Problem solved.

Spanish bankers laughing all the way to the, ahem, bank

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  • 396 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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