Close Brothers Share Discussion Threads

[dplewis1] 26/7/2024 15:25

Going some this afternoon .. some of the Deutsche note is worth a re-read.. "DB noted that the shares year-to-date have been driven by the FCA review. It said the shares have overly discounted this risk."It we take the PPI ruling as precedent and factor in differential risk across the motor finance lending portfolio the impact could be negligible," the bank said.Deutsche Bank factors in £150m conduct charge, which it said was manageable without too much additional adjustment to the financial outlook."

[suetballs] 26/7/2024 15:01

Even despite the above (post 1271) cbg has been unfairly bashed imo. And the improving share price would appear to confirm that.
Suet

[tsmith2] 26/7/2024 14:58

what do you expect to see at this juncture?

[suetballs] 26/7/2024 14:49

Just read the note in the lloyds Bank 30/06/24 interim accounts iro historical motor commission finance arrangements.
No change to the £450m provision made in December 2023. However, given the progressing FCA review and the significant uncertainty the ultimate financial impact could materially differ from the amount provided,both higher or lower.
So still clear as mud!
Suet

[tsmith2] 26/7/2024 10:13

still think so

[stoopid] 18/7/2024 18:58

Profit taking near the end of the day? Still a while to go until the FCA makes a decision and we see if Barclays legal challenge works?

[stoopid] 18/7/2024 18:57

Davius.....

[dplewis1] 18/7/2024 14:20

Seem to remember someone bailing at 430p not long ago..

[stoopid] 18/7/2024 11:40

Still going up, wondering if I should dump a few and await a pullback?

[tsmith2] 18/7/2024 08:58

Financial CalendarAs previously announced, the group has discontinued the issuance of pre-close trading updates in order to align more closely with prevailing market and industry practice.The group is provisionally rescheduling the release of its preliminary results for the 2024 financial year to 19 September 2024 (from 24 September 2024).

[tsmith2] 17/7/2024 14:09

I think they've had a number of suitors for CBAM for a while now

[stoopid] 17/7/2024 13:45

Yeah, but the rumours I read months ago stated they were looking to sell Winterflood, the broking arm.Well, time will tell...

[dplewis1] 17/7/2024 11:24

The rumour stated that it was CBAM. Not sure what the value of Wints would be but probably nowhere near as much as that. They have enough buffer to pay a large fine already, I think the sale to Oaktree was on the cards well before this car finance issue

[stoopid] 17/7/2024 10:09

200m for CBAM could give them the extra financial cushion they need if the FCA investigation comes in at higher costs than expected.After suspending the Divi at the start of the year, 200m from CBAM would give them a pot of over 400m to cope.But, I thought it was only Winterflood (WBS) they were offloading, not the whole of CBAM?

[tsmith2] 16/7/2024 10:13

52 week range is £3 - £10

[cirlbunting1] 16/7/2024 08:15

Agreed. Dont see this as a good move. UK asset mgmt space has seen a lot of outflows, CBAM hasnt, only inflows.

[dplewis1] 15/7/2024 20:19

CBAM is a good brand.. they've got almost 20bn under management. Selling off the family silver if you ask me

[pj84] 15/7/2024 16:37

This might be the reason for the continued increase in the share price.

"Exclusive: Close Bros’ wealth arm in fresh talks over £200m sale

Private equity house Oaktree Capital Management is rumoured to be in talks to buy Close Brothers Asset Management."

[tsmith2] 15/7/2024 16:15

nice litttle whoosh.

[dplewis1] 15/7/2024 08:45

hTTps://www.alixpartners.com/insights/102jaou/a-bumpy-road-ahead-for-uk-motor-finance/

[tsmith2] 12/7/2024 09:38

if convincingly through £5 then expect a relatively easy ride to £6

[tsmith2] 11/7/2024 16:29

touched £5

[pj84] 08/7/2024 19:53

"Barclays’ attempt to quash key car finance ‘mis-selling’ ruling is wrong, says watchdog"

...

"However, Barclays has sought to push back against the ombudsman by mounting a legal challenge."

...

"If Barclays succeeds in its application for judicial review, the ruling could potentially throw a spanner in FCA’s investigation."

...

In its original court application filed in early April, Barclays said the court should quash the ombudsman’s decision. This is on the basis that there was a “real divergence” between the agency’s stance on complaints and those of the courts, where the ombudsman has lost a succession of cases.

A Barclays spokesman said: “We do not agree with the Financial Ombudsman Service’s decision in this case and are therefore challenging it." "

[stoopid] 05/7/2024 14:42

Back to 700/800 a share..... pluse a special Divi if they don't have to pay out too much ?Could be big gains for those of us that had the bottle to pile in at 290ish.Although my average is about 420 now as first purchase was 760/780 before the problems unfolded lol.

[stoopid] 05/7/2024 12:35

Somethings afoot here, some news leaked??