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Why Is Hbos Up So Much Today


hedi
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Guest Shedfish

i reckon it's either:

1) Strung fundamentals underpin the UK banking sector, and now is a great entry point for those in it for the long term

2) Shorts being covered

3) The world has gone totally insane

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anyone any ideas.

Government pushed more money into Northern Rock (£3bn) which eases the pressure of over-supply of mortgage backed securities onto the markets... This, in turn, will buoy the value of the existing mortgage backed securities on the balance sheets of banks... hence reducing insolvency risks for them.

All the banks are up - and (by rack of eye) the percentage gains are proportional to their approximate exposure to UK mortgages.

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Wish I'd bought the shares offered in the rights issue now. I have to say that I wondered if they were deliberately being kept low so that there were few takers. I have a deep mistrust of big financial institutions and government so expect we'll see incomprehensible actions from both.

Edited by wheresitgone
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