Close Brothers Share Discussion Threads

[factsonly] 21/1/2007 11:57

I think the short-term target for the next two weeks is £10.75, if it breaks that then I agree £11 is the next objective.

[scottishfield] 18/1/2007 16:36

Facts, exactly, when we break this band we may/should reach £11, all else being equal,

good luck. S-F

[factsonly] 18/1/2007 16:26

It seems to be trading within a channel since mid september last year.

[scottishfield] 18/1/2007 16:19

£10 seems hard to get over & stay over doesn't it.

[factsonly] 11/1/2007 08:12

The only frustrating item about CBG is that the management/board believed it was worthwhile mentioning that they were on the verge of closing several big deals these few months etc, but then don't follow through in announcing that they have concluded them (poor practice).

[factsonly] 10/1/2007 12:00

There is always that risk with the bottom for that would be around the 920p mark. However, a counter to that is the prospective P/E ratio is looking very nice with the two deals mentioned above and the potential of a third large deal coming from the property business. We might even see a nice hike in the dividends.
I have that feeling some larger bank (e.g. Schroders or even RBS if it decides to develop in the investment banking arena) will swallow CBG up if i stays undervalued after they've concluded these recent/upcoming disposals.

[ian.g] 10/1/2007 10:37

seems to me we're reaching a fairly critical point from the charting view - over the next week or so we'll see whether it's going to hold and rise again confirming support at this level or whether it drops into a head and shoulders in which case we're dropping a good bit further.
Your thoughts appreciated factsonly...

[factsonly] 03/1/2007 11:18

It seems the market is taking a small breather.

Based on CBG's AGM statement "...In addition, we anticipate some significant realisation gains in our private equity and property businesses." Given that both the Minova and Moody sales (see posts made above) were from the Private Equity side, we should expect at least one more big (profitable) deal from the Property business.

The share price is now looking very undervalued... I hope it climbs before a larger bank snaps it up on the cheap.

[factsonly] 02/1/2007 08:08

With equities markets expected to hit new record highs this year, this should bode very well for financial institutions with market investments/activities.

[factsonly] 28/12/2006 13:37

Nice long stream of buying today... it seems a formal conclusion of the deal (above) is due soon.

[factsonly] 28/12/2006 10:19

Orica gets regulatory approval for Minova buy
21/12/2006 By: Nicholas Grove


Orica Limited (ORI) today said it has received final regulatory approval required to complete the acquisition of UK-based mining services company Minova. The chemical and explosives company said it expects to complete the transaction within three business days.

[factsonly] 18/12/2006 21:38

Short term (charting) target £11.

[factsonly] 29/11/2006 19:51

The profit from this transaction should boost annual profits!



Close Brothers Private Equity (CBPE), has sold its stake in Minova, the chemicals company, to Orica Ltd for £357m.

CBPE backed the management buy-out of Minova from Burmag Castrol in March 2003 for £32m, when the business was known as Fosroc Mining.

They hinted on the above deal in the agm statement "In addition, we anticipate some significant realisation gains in our private equity and property businesses." The story itself didn't get much press coverage.

[factsonly] 28/11/2006 16:16

Potential support/bounce level coming up, or will it drop below that and firm a double top formation?

[chairman2] 01/11/2006 14:25

Taken with the very downbeat Evolution statement last week
this holding well

[factsonly] 01/11/2006 13:12

Hmm, that agm statement didn't say much... sounds like things are more or less the same as last year, but have a couple of investments that may be sold off at a decent profit. Doesn't do much for normal EPS growth then!?

[factsonly] 31/10/2006 09:25

Short term support at 940p, long term support at 880p.

[factsonly] 28/10/2006 19:20

Hmm, having said that, I'm reassessing market sentiment and based on the DJ's performance on Friday and that we have an impending rate hike, the market might dip this coming couple of weeks. IF the market dips, then it will probably drag CBG down to 900p (as Silverfern mentioned), probably even 880p.

[factsonly] 28/10/2006 11:14

It's not a big drop... why are you worried!?

[chris001] 27/10/2006 14:48

maybe sentiment caused by EVG

[uncleseyares] 27/10/2006 13:00

Can anyone tell me whats up at close brothers? 950p!please

[factsonly] 27/10/2006 12:44

Not sure why it's dropped today... but given it has, seems like support/bottom is circa 940p