Close Brothers Share Discussion Threads

[suetballs] 05/7/2024 11:04

I wonder where this will settle once the FCA have deliberated.
I suspect a lot higher.
Suet

[dplewis1] 05/7/2024 08:10

Deutsche Bank initiates coverage with buy rating and 610p price target

[suetballs] 03/7/2024 17:20

What about a major getting cbg on the cheap - I’ve always thought that likely.
Suet

[dplewis1] 03/7/2024 16:55

Went through resistance. I'll hang onto mine thanks

[karv1] 03/7/2024 16:24

At 10% on small volume, I would 100% be selling unless I could see a reason for the rise
or If I was down on my position.
GL everyone.

[suetballs] 03/7/2024 16:04

Something afoot maybe.
Suet

[dplewis1] 03/7/2024 16:00

Needs to break 458

[karv1] 03/7/2024 15:37

Over 7.5% up with no news with around 1m in value in trades.

The auction might be interesting.

[tsmith2] 03/7/2024 14:04

bounce well over due

[suetballs] 24/6/2024 10:35

More than doubled my holding - and my paper loss is only 50%!
Here's hoping the FCA doesn't upset the applecart too much.
Suet

[davius] 13/6/2024 18:12

I'm out at 430p. Still a good profit but seen it eroded since hitting a fiver and ignored my ten percent stop loss at 450p.

[pj84] 09/6/2024 00:26

This may well have been posted before, but I stumbled across it this weekend even though it dates back to 11 May 2024, but it seems to be an honest opinion of someone who regularly buys cars on finance (which I have always refused to do, other than when I was younger and even then, when I had found the cheapest loan, the car salesperson would have to make me discuss the option with their in house finance sales person, who would try to persuade me to take their offer! A bit like time share sales people and the most persuasive were in Florida near Disneyland, which also failed to persuade me despite various manager interventions to keep lowering the price. Sorry for the digression.)



"Here’s why I won’t be claiming for car finance mis-selling

Millions of drivers are seeking compensation after paying hidden commissions, but this will come at a price — for all of us, says Holly Mead"

...

If you truly believe that you were mis-sold, then make the complaint. But if you are just disappointed to hear you could have paid a bit less, you have to wonder if it’s worth it.

I worry about the consequences of this latest example of compensation culture — just because something didn’t go your way, it doesn’t necessarily follow that you should get compensation. What’s next I wonder, all those fixed mortgage deals sold after the government’s disastrous mini-budget in 2022?"

[dplewis1] 31/5/2024 14:15

Canaccord raises target price to 560p from 463p

[blueclyde] 28/5/2024 13:42

It seems there is a glitch on Twitter that takes you to Martin Lewis car insurance reclaim website when you click random stuff. We really need to information pronto from the FCA to see how big this thing is...

[dgarvey] 26/5/2024 20:43

Ambulance chasers are advertising for Close Brothers clients. Quite often, the legal bills are more than the compensation received, but both will have to come out of the provision. All comes down to how many clients sign up.

[pj84] 22/5/2024 19:26

Thanks Centipede that's a very good analysis.

[centipede] 22/5/2024 11:32

An in-depth analysis at the link below puts CBG at a fair value of £16.90

This includes £400 million compensation expense and zero dividends in 2024 and 2025

[tsmith2] 22/5/2024 11:23

What's nvidia got to do with CBG..

[blueclyde] 22/5/2024 11:10

This is a separate investigation on top of the current issue. The big problem is it has cost them £10 million so far to investigate the bigger claim. How much more on top of the £10 million is required just to investigate? That's the problem before they even payout anything if anything.

[hamhamham1] 22/5/2024 10:03

IMO any market losses today will be erased, and some, tomorrow.
Nvidia reports today, that will flow through for opening tomorrow.

[carcosa] 22/5/2024 09:28

The Borrowers in Financial Difficulty (BiFD) review and the review of historical motor finance commission arrangements are separate reviews conducted by the Financial Conduct Authority (FCA) on different issues.

The BiFD review focused on assessing how lenders were supporting borrowers facing financial difficulties, particularly in the aftermath of the COVID-19 pandemic and the rising cost of living crisis. The review aimed to ensure firms were meeting the FCA's expectations outlined in the Tailored Support Guidance (TSG) and providing appropriate support to customers struggling with debt repayments.

On the other hand, the review of historical motor finance commission arrangements examined the way lenders earned commission from motor dealers for arranging vehicle finance. This review investigated whether customers were given sufficient information about these commission models and if the amounts charged were too high, resulting in higher financing costs for consumers.

So in summary, while both reviews were conducted by the FCA, they addressed distinct issues.

[hamhamham1] 22/5/2024 09:19

There is that saying along the lines your boots and filling?

[stoopid] 22/5/2024 09:14

Have people missed the motor finance review note? Their assessment of the compensation due to customers from the FCA and their own review?CBG believe the compensation due will be in the single digit millions?