Close Brothers Share Discussion Threads

[stoopid] 19/3/2024 08:34

Hmm, don't like the effect the reported "AT1" securities will have on EPS.11.125% coupon and starts on 29th of May.Paid from retained earnings and will reduce EPS/profit.

[riverman77] 19/3/2024 08:31

While very tight lipped on the potential scale of any damages, they did note that the small number of cases that had gone to court were found in their favour. Hard to believe the eventual damages would even be a fraction of what's been knocked off the market cap.

[chriss911911] 19/3/2024 08:14

will soon be £5.00 while stock lasts under £4.00 still on offer

[jonnybig] 19/3/2024 08:06

Market likes it 👍

spud

[jonnybig] 19/3/2024 07:51

A massive war chest just in case there is a worse possible outcome.

A very favourable outcome and that war chest will be returned to shareholders imo so definitely a worthwhile hold and add.

spud

[faz] 19/3/2024 07:37

i thin a potential £400m set aside in a year demonstrates this company can withstand a fine/payout. I expected a very cautious statement- i've been in and out of CGB for 30 years and know their style. The main take away is that they're ready and the business ha s now moved on.

[karv1] 19/3/2024 07:34

If nothing happens or the payout is on
the lower side this company is going to have so much money for such a small cap size.

[karv1] 19/3/2024 07:28

I like that they are building an extra 400m safety net on top of there 1.5 billion reserve.

[123trev] 19/3/2024 07:13

Looks a good set of results let’s see what the market thinks.

[suetballs] 19/3/2024 07:08

As I expected no provision for motor finance.
Suet

[dplewis1] 19/3/2024 07:03

hTTps://www.londonstockexchange.com/news-article/CBG/half-year-report-for-six-months-to-31-january-2024/16383359

[123trev] 18/3/2024 18:53

The big problem with buying stocks is all the derivatives underhand but legal tactics and what about them swaps do they have anything to do with the current situation?

[jonnybig] 18/3/2024 17:56

They might reinstate the dividend! 😁

spud

[tsmith2] 18/3/2024 13:36

just means it's not leaky

[stoopid] 18/3/2024 11:44

BOA could have ditched for any number of reasons. Tomorrow will be interesting, especially to see if the Novitas provisions are finished and as apple news reported "compensation will not be on the scale of The PPI scandal" Nikhil Rathi CE of the FCA said "it is improbable that we will find nothing to report as we look at historic motor finance claims but the investigation will not be on the same scale as the PPI investigation or as protracted""I do not anticipate this issue playing out as PPI did, not least because we have intervened early"

[dplewis1] 18/3/2024 10:47

Not very encouraging price action the day before results.. surely worth a punt for the gamblers out there

[chriss911911] 18/3/2024 08:15

A forced, sale, is a forced sale, we don't know reason, but means some cheaper stock in theory at least, I would expect this to close up on any volume, as not much interest to sell at this price...

[123trev] 18/3/2024 08:02

A mistake I doubt it but at least we have some idea what happened NOT.

[karv1] 18/3/2024 07:38

New update from Boa today I am guessing it is a correction from Friday.

[123trev] 17/3/2024 18:56

We no why OSB fell and yes it was a witching day but that doesn’t explain the off book trades and there size over the period 13th-15th. Obviously the elephant in the room here is BOA took a position and the only reason I can come up with for the fall on Friday was an algo finished executing the negotiated deal.I could be wrong but makes more sense to me than any other explanation.

[jonnybig] 17/3/2024 18:22

There were huge volumes everywhere. It was witching day.

spud

[popit] 17/3/2024 18:02

123Trev

I have no idea why CBG shares had a big fall in the afternoon

OSB also had a big fall in the afternoon so perhaps it was just general market moves and perhaps there was no connection with the BOA trades

[123trev] 16/3/2024 23:18

Popit precisely the share price should have risen it didn’t and lots of off book trades some for large amounts so it’s an educated guess there is no evidence the negotiations are private so I imagine for such a holding they set a price no other notifications were published. I don’t pretend to understand all the derivative instruments the market uses to manipulate share prices but it’s my best guess what’s your thoughts on it!

[popit] 16/3/2024 21:02

123Trev

You said the shares fell because BOA negotiated a price off book or between parties

What evidence have you for this? There is no mention anywhere on the internet that this was the reason for the large fall in the share price

BOA also seem to have taken a position of almost 7% in CBG

3.14% in shares and 3.7% in other financial instruments

I would have thought that a large stake building like this would have been more likely to increase the share price

So do you have any evidence that this large stake building was the reason for the large fall in the share price?