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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Euro Equity | LSE:EET | London | Ordinary Share | GG00B3KNRB92 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 65.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 65.00 | GBX |
European Equity Tranche Income (EET) Share Charts1 Year European Equity Tranche Income Chart |
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1 Month European Equity Tranche Income Chart |
Intraday European Equity Tranche Income Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/6/2009 | 13:39 | European Equity Tranche Income -8% +Isa allowable | 155 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 23/12/2008 15:45 by isa23 I think we should hope for the bid offer spread to narrow so we can buy our shares back if we do have to sell. Today's rise in the bid price can be a start |
Posted at 13/12/2008 20:55 by arthur_lame_stocks So Peter Gyllenhammar and Johann Claesson are going to bail out EET. It looks to me like it will have a NAV of ~E45m and debt of ~E6m after the restructuring. I don't understand these instruments really. Can somebody tell me does the NAV represent the likely capital residual for noteholders after all of the mortgages have been paid off? Or is it the sum of the discounted cash flows expected to be paid to noteholders? Or is it both? Cheers |
Posted at 20/11/2008 14:41 by cerrito The article below discusses the effect of the change of direction of the TARP authorities in not buying mortgage related securities..while of course EET has no US exposure this does have an effect on similar European assets and is a further downer for EET |
Posted at 21/10/2008 10:26 by hosede ErstwhileCan you explain the problem of Preyment to me? I accept that it reduces the potential income of the security, but does it not equally reduce the default risk - someone who prepays has not defaulted so the capital value of the loan is less at risk. What would be the result for EET if all the mortgagees prepaid in full? Thanks |
Posted at 23/9/2008 21:20 by cerrito EET holders may be interested in the following from Queens Walk today..both QWIL and EET are in the Lusitano mortgage pool and Portugal represents 20% odd of EETquote The Company's portfolio of Portuguese mortgage investments are predominantly collateralised by prime mortgages with more than three years of seasoning. However, recent increases in Euribor rates, higher inflation and slower economic growth have increased the arrears and default rates in the portfolio. The increase in arrears and default rates have been provided for in the Company's cash flow forecasts. unquote |
Posted at 12/8/2008 21:12 by nickcduk erstwhile2 - You seem quite knowledgeable about the market EET operates in. Perhaps you could help me with TRIO. Recently sold up all their investments and left with around $6.40 in cash versus a share price of $4.30. Here is what they said in their announcement last week:-"The Company's Board will meet to consider options for the use of the cash raised through this transaction, on recommendations from Wharton. Although there may be potential opportunities for re-investment of the cash should the market stabilise, the Company has a stated policy of returning excess cash to shareholders. It is anticipated that a decision will be made by the Company's year end, 30th September 2008." I personally think they will return the cash but in the event they dont, do you think re-investment opportunities are likely to provide decent returns if they invest in distressed situations at present? I don't really know a lot about Wharton either. Have you come across them and could you please proffer an opinion? Thanks in advance. |
Posted at 07/7/2008 08:26 by isa23 Erst, my sympathies are still with those who sold at 14 because a few days later the price rose to 27p. Share price went up on no news, no volume, no nothing, just as it is going down (and up again as I'm writing) on no news, no volume etc. My point: as long as you know what you're buying into, have a long term horizon, and your investment is only a small part of a well-diversified portfolio, you shouldn't pay too much attention to price movements and certainly not be spooked by people talking down the share price for the benefit of their own pockets |
Posted at 08/5/2008 13:36 by isa23 I think the idea is to flush out the last remaining shaky hands. Soon every retail investor who'd wanted to sell will exit and share price could then move up. That's why you can now sell as many as 25000 shares in this illiquid market but can only buy 5000 shares online.Too much debt and potential breach of covenant was my main worry. Now that the company is reducing debt (albeit at the expense of divi) I am happier than ever to hold. EET still generates a healthy income, and at current price yields 9.4% |
Posted at 27/1/2008 17:08 by cerrito As a holder of QWIL I have found the EET announcement interesting especially as both QWIL and EET have assets in common in their holdings. Both are in Sestante Finance and Lusitano Mortgages( But in different tranches in the latter case)I have no exposure to EET at the moment but am looking at this as a matter of urgency given the recent price drop. I have reduced my exposure in QWIL and now do not have much; Portugal(see below) is what is making me nervous on QWIL. Interested that Investec sold out eet as they were gungho on this. I need to say that EET provide much more info than QWIL on their Italian and Portuguese mortgage holding. The Achilles heel for both is Portugal where mortgage lending has been as exuberant as anywhere else and competition high as evidenced in the Dec 13 EET investment update and I am delighted that this last week's EET update did not highlight any problems in Portugal. I also took comfort in the LTV ratios in Portugal. QWIL's Italian mortgage portfolio is 9.1% so they will be less affected by developments in Italy than EET. In the last Nov 28 report and teleconference, QWIL did comment on an increase in prepayments but said that it was within tolerable limits so not sure if this is a recent phenomenon or reflects different tranches in the Sestante pool. Saw that EET made write downs for Italian prepayments in year ending 607. QWIL have not made any write downs. |
Posted at 01/8/2007 15:44 by davebowler 1 August 2007 EUROPEAN EQ.TRANCHE INC.* [Buy] -------------------- EET.L / 51.00p / £51.00m European Equity Tranche Income will maintain quarterly dividends of EUR 0.02 and grow its NAV in our view. This equates to an annualised euro dividend yield on the current share price of 10.6%. We also expect the 20% discount on the fund to narrow as the market starts to recognise the stability of the underlying assets and income stream. The attached company announcement (published yesterday) details, for the first time since launch, information on all investments made to date including the average loan to value ratio for each investment and the seasoning (the weighted average age) of each underlying mortgage pool. Both the age of the pools and the loan to value ratios should give investors comfort in our view. This information has hitherto been withheld in the interests of keeping such information from EET's competition while EET was building its initial portfolio which now comprises 13 investments just one of which is in the UK, representing just 6% of net assets. EET sold in one Austrian investment for a profit in mid-July which should give comfort to investors that valuations are realistic, based on conservative assumptions and have not been affected by developments in the US. We have now had a series of updates: The company has repurchased 2 million shares thereby enhancing the NAV and demonstrating the board's confidence in valuations. An independent director has recently purchased shares. (Chairman, Robin Monro Daives already has a holding of 500,000 shares) Ocean Capital Partners has increased its exposure. A quarterly dividend of 0.02 EUR has been declared as expected and we fully expect EET to pay out dividend of at least 0.02 EUR per quarter going forward which offers an attractive prospective annual yield of 10.6% on the current share price.We also see decent prospect for capital growth. The portfolio is reported to beperforming in line with or better than expectations. The portfolio is now well diversified geographically and is exclusively exposed to prime pools of mortgages - primarily in countries where consumers are less leveraged, where loan to value ratios are attractive and where the loans are well-seasoned. EET has no exposure to sub-prime pools. EET is probably the only fund of its kind to have reported a positive total NAV return since launch (even after allowing for 2.7% Italian loss). A discount has emerged reflecting indiscriminate selling and we recommend buying the shares at current levels. Target price: 65p (~27% above the current share price) Tom Tuite-Dalton, 020 7012 2012, tomtuite-dalton@arbu -------------------- Specific disclosures for European Equity Tranche Income: Arbuthnot acts as broker for European Equity Tranche Income Arbuthnot has agreed to publish research at least annually on European Equity Tranche Income Arbuthnot acts as a market maker or liquidity provider for European Equity Tranche Income |
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