Close Brothers Share Discussion Threads

[jonnybig] 23/4/2024 10:29

Another nice director buy

spud

[jonnybig] 22/4/2024 15:52

Nice director buy

spud

[tsmith2] 22/4/2024 08:18

should get notice of date of next quarterly update this week?

[davius] 19/4/2024 17:12

A nice little bounce...

[tsmith2] 19/4/2024 16:45

What happened at close of play

[jonnybig] 18/4/2024 18:36

There's reports in the USA that the fed are so hell bent on reaching the 2% inflation target that they'll never reduce interest rates until it's achieved, so it actually may never happen!

And as the BOE follow the yanks like sheep, it looks unlikely rates will be cut at all.

spud

[tsmith2] 16/4/2024 18:53

What are BoA up to??

[jonnybig] 16/4/2024 15:35

The offer has been stuck at 444.6 for ages. Strange.

spud

[karv1] 16/4/2024 08:30

www.closebrothers.com/investor-relations/investor-information/analyst-coverage
This is a vague list of possible views including some possible FCA liabilities from a few analyst. With a short explanation underneath the list.

[123trev] 16/4/2024 08:06

I can’t provide a link but read it over the weekend can’t even remember the analyst but it was in response to the FCA announcement I’m sure you can find it it wasn’t a secret read to much so never remember were I read half the stuff but not lying stoopid I assure you.

[dplewis1] 16/4/2024 07:59

Peel Hunt cuts target price to 500p from 518p

[stoopid] 16/4/2024 07:57

£350m in liabilities says what analysts? Please provide a link, would like to see why they think it's so high? I havent seen £350m quoted anywhere by any analyst for CBG liabilities....

[123trev] 16/4/2024 07:30

I’m holding Vanq shares at the minute and I thought it was a card issue myself but apparently although not subject to the FCA investigation because they never used Dic they are duty bound to investigate claims. It seems a third party is involved in these unfounded claims and Vanq is taking legal steps to mitigate the cost that seems extortionate I agree.
Regarding CBG they have been told to hold significant cash reserves in the likely event of compensation after the latest comments by the FCA several analysts have come out with a figure of £350 million whether that figure is correct remains to be seen but in the culture we now live in not beyond the realms of possibility at all.

[karv1] 16/4/2024 07:06

Very true we are all guessing, No one knows what will happen.
I was reading an article from Vanq about false claims I guess linked to there cards that have to be investigated going by FCA rules, that cost them £750 each just to investigate.
I wonder how they come to this cost and how much of this universal.

[stoopid] 16/4/2024 04:05

There is a lot of waffle and wild speculation going on.No one knows a thing atm because CBG haven't released anything or made any provisions. Only LLOY have announced anything with a £450m write down/provision already, and they are up 15/20%.The big gamble with CBG will be when the FCA announce their investigation results and CBG make appropriate provisions and pay any fines.Pays your money takes your chances. Personally I have followed the big boys who will undoubtedly be more informed than this board and bought a fair few, well, for me that is. Before all this hit, CBG were undervalued at 780 because of all the provisions for various things including their disastrous foray into Novitas which cost £180m in provisions. Winterflood their asset management division has also underperformed. This has all now cleared the books. So, if CBG were undervalued at 780 and this FCA issue turns out to be a storm in a teacup then with 200m+ in profits 780 will seem cheap. If the FCA investigation is disastrous, then a lot of us holders will lose a lot.....

[cirlbunting1] 15/4/2024 20:42

Just looking at some make shift numbers and using the source:

hxxps://www.vwpress.co.uk/en-gb/company/uk-sales-figures

In total, across 2009 – 2020 there were roughly 27m new cars. Around 2.3m of those new cars were VW (8.5%), so more like 1/10 as opposed to 1/5 or 1/6. 30 – 50% of VW sales were golfs (my purchase in 2015). 1/5 of VW sales from 2019 were Tiguan’s (my purchase in 2019).

Wanted to paste the table.. but format isnt great.

[naeclue] 15/4/2024 19:37

From 2016 CBG only allowed brokers to reduce the interest rate charged to customers, not increase it. The commission for the brokers would be reduced if they dialled the interest charged down.

hxxps://www.closebrothers.com/system/files/press/CBG%20HY24%20Results%2019.03.24.pdf

page 6 of the above.

From 2021 on, the broker could not vary the interest rate.

[karv1] 15/4/2024 17:28

I think there is a high chance that CBG were 100% dca in one form or another before 2021.
On there Q&A on how the dca had evolved through the years they stated that
they introduced the risk type of interest in 2021..
It could be that I am looking into the meaning of the word to literally. And just because they do not mention any other scheme does not mean that others did not exist.
I would of thought that they would of tried to highlight them if they did.

[cirlbunting1] 15/4/2024 13:11

VW has just come back to me on my 2 claims ive submitted... Bought 2 brand new cars in 2015 and 19.. claim has been rejected - DCA was not used. VW claims make up what % (1/5 or 1/6?)

[mustau] 14/4/2024 18:43

All part of the game to keep Nethanyu in power.

[123trev] 14/4/2024 08:45

Might well have dodged a bullet selling when I did markets not looking good another escalation unprecedented but highly expected very surprised Israel airspace opened so quickly.

[mustau] 12/4/2024 19:46

ES must have spoken with the cleaner fellows, very surprising if point 1 was stated by senior fellow in admin!

[karv1] 12/4/2024 17:12

I am surprise no one has given their view on the Fca Update today.
I read 3 things into it
1. The need for them to talk about holding money back for liabilities suggest to me where there mind set is, especially when you think back to what the FCA fellow said a while back in his cryptic message we unlikely to find nothing.
2. They said by September 24 at the latest they will report, which suggest the date is very moveable , I take that as they going to bring it forward.
3. If the legal review drags on they will delay the report way pass September 24 I suspect they talking about Barclays.
ON a side note who has the final control BOE/FOS/FCA. Or the courts.

[123trev] 12/4/2024 10:14

I’m done for now another decent return will look again if it drops back. GL