ICAP Share Discussion Threads

[cgee1] 08/10/2013 09:03

Stop your shares being loaned for shorting.....this was taken from a CFD site

There are two things you can do, the first is to certificate them but this is not obviously to everyone's advantage but the alternative solution is simple. All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double today's price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes. And don't forget to move your limit order up when the price starts to recover, then, that way your shares can't be shorted - not much but helps.

Although an individual personal investor will not normally have enough shares to halt a concerted shorting attack, if a large number of holders did this it would reduce the overall amount of shares that they could get their hands on.

Well worth doing if not only for the knowledge that your own shares cannot and will not be used in a short attack against the very share that you own.

[bend1pa] 07/9/2013 13:37

I'm not sure we are going to see that breakout. The share price rise was spurred on by a broker's upgrade which is only a very short term fillip. Lack of genuine good news is only going to see this one drift down yet again.

[hyden] 05/9/2013 20:04

Excellent day today. Broker upgrade certainly helped. Would like to see a convincing breakout above 400p, though. :-)

[jeffian] 13/8/2013 23:24

Sorry to go o/t but is Rennes still about?

You certainly won the 'battle' with your argument that the will of the Euro-politicians to make the common currency work would overcome the realities of the marketplace, but I'm not sure you'll win the 'war'. This article by Jeremy Warner in the Telegraph sums up my view exactly -



Let's hope the people of 'Europe' are happy that their politicians pursue the dream whilst they suffer for it!

[shortnomura] 15/7/2013 13:07

Short ICAP

* Industry moving from OTC Swaps dealing to Exchange Trading
* No evidence of Execs & Insiders buying the stock
* Overvalued -> P/E = 68
* ROE Q1 -1.3%

[andrewbaker] 12/7/2013 12:03

Given the current stock market volatility worldwide, ICAP is a safe place to hold money for the medium to longer term investor. The dividend is good, and well covered; and no cash or rated bond investment can compete with the pay-out: so, providing one doesn't need the cash in the short term, putting it into shares of ICAP will provide a useful income stream, plus a vehicle for growth in the future as world economies improve, which will benefit ICAP.

From a technical viewpoint, it's also got loads of support at 360p, and may drop back a little in the short term as it's above its 200dma, which itself is turning upwards, suggesting the medium to longer term trend is northwards. Using Bollinger Band and Relative Strength studies also show it in a good light, other than the short term. And the shorter term ma have recently crossed back above the 200dma, being another favourable sign, IMHO.

Disclosure: long IAP.

[bend1pa] 10/7/2013 15:51

"We maintain our 300p price target (set in November 2012) and change our
recommendation from hold to SELL."

Not only is this stupid but unlikely. If the share price were ever to fall back to that level again a sustainable div at 300p gives a yield of 7.3%. That sort of yield a few months ago was then strongly suggesting a div cut. But now Camacord think it's sustainable. It makes their 300p target seem even more unlikely.

[kibes] 10/7/2013 12:15

'While this is attractive and ICAP's cash generation is strong, the payout
ratio is high. We see the dividend as being sustainable but see little prospects for growth'. That is one of the daftest comments I have seen. Oh dear the dividend is too high and worse still it is sustainable! A company making money and actually prepared to give shareholders a fair return? Almost unheard of!

[kiwi2007] 10/7/2013 11:49

Canaccord advising a take-profit in a very brief note.
BE
ICAP's 1Q trading statement reveals:
1Q revenue up 2% on last year
Encouraging start but trading conditions remain challenging (e.g. BrokerTec
volumes rose 13% but the uplift in revenue reflected volume discounts)
Mixed performance across ICAP's businesses (e.g. strong performance from
financial futures and options; fall in CDS and commodities)
Management's current expectations for the full year remain unchanged

BE
The default Quest value of 279p a share reflect the cash return on invested capital
over the past decade and consensus forecasts, which are in our view unnecessarily
pessimistic.

BE
At 400p a share ICAP shares are up 30% year-to-date and are trading on a dividend
yield of 5.5%. While this is attractive and ICAP's cash generation is strong, the payout
ratio is high. We see the dividend as being sustainable but see little prospects for
growth.
We maintain our 300p price target (set in November 2012) and change our
recommendation from hold to SELL.

PM
Hmm
PM
Espirito are neutral
PM
Phil Dobson
PM
ICAP today released its IMS for the period 1st April to 10th July. The company states that the encouraging start to the financial year has continued through Q1 as the prospects of tapering QE stimulated volatility in US Treasuries. Also US SEF rules have reduced regulatory uncertainty in the industry. Some areas of the business remain challenging, with commodities contracting as investment banks cut trading in this area and the current low interest rate environment has constrained demand for the risk mitigation services provided by Reset and Rematch. Overall therefore group revenue for the quarter was 2% ahead of the same period last year. Given the strong performance of the shares running into the Q1 IMS, we feel that the market may be disappointed with the mixed trading performance even though at 2% revenue is slightly ahead of our 1% 1H estimate and 1.5% for the year. ICAP trades on a 2014E PE of 11.7x and yields 5.5%.

PM
Business performance

- Post Trade Risk and Information: Trianna continues to grow in Q1 as it gained market share, while Reset and Rematch were impacted by low interest rates with little change at the short end of the curve. Information revenue has been impacted by a decision to end certain data sales from EBS.

- Electronic Broking: BrokerTec has been the star performer over Q1 with average daily volumes up 51% in the quarter. The company points out that the uplift in revenue was less pronounced than the growth in volumes reflecting the volume discount tariff structure.

- Global broking: activity varied across different products with strong performance in financial futures and options given recent volatility. Equity derivatives performed well while activity in credit and commodities declined.
ICAP (IAP LN, 400p, Neutral, FV 353p)

PM
Looks attractive to me -- a 5.5% safe yield
PM
But then i did go on a recent junket with the firm...
PM

BE
(@Makeyourmindup: Tullett rumour last spotted in May, so perhaps we have another 10 months to wait. )
BE
Well, you say "safe"
BE
Possibly better to say "covered"
BE
Because if Libor goes against them, the decision on whether or not they pay a divi ends up with the regulators.
PM
Yeah, fair enough
BE
As we've already seen with the banks, who were all blithely intent on paying divis in 2008. Didn't quite happen that way.
BE
(Not that I'm drawing a direct comparison. To be clear.)

FTAlphaville.

[kibes] 10/7/2013 11:23

Down 30p today on the interim statement. Seems a bit overdone to me. What is the problem with it?

[hyden] 05/7/2013 16:07

Well said Dr B. :-)

[bend1pa] 05/7/2013 14:41

For the last 2 months the direction has been sharply north. This shareshould be judged as a classic example of why you should never take stockbroker/analyst's forecasts seriously. Most of them were downgrading this below £3 just last May.

[brucie5] 26/6/2013 17:33

Looks to be how this share moves - both ways. Could be good support at 3.50, since this seems to have been resistance in the past. Double bottom looks to be in place.

[iverlion] 26/6/2013 17:29

Most brokers are overpaid and do not have a clue.......hahahaha what do you think ICAP is.

[lonrho] 26/6/2013 17:23

sorry wrong thread

[superbarnet] 26/6/2013 16:21

I have bought a few as it is a good company with a high yield. Most brokers are overpaid and do not have a clue.

[strutt12] 26/6/2013 15:18

Kalkanite, if you take into account most stocks are up 2% we're down about 5% after you remove the dividend.

[bend1pa] 26/6/2013 11:46

No one but an inexperienced investor takes a brokers opinions seriously. Half the time they get it wrong, and nearly all of them have been getting this one wrong as it's been climbing 25% over the past couple of months or so. Nearly all were negative at £3 This needed some profit taking as it had been climbing too far, too fast. Will continue recovery (imho).

[kalkanite] 26/6/2013 11:27

Strutt it's only 3% down, the rest is XD. Given the recent rise that's a normal pull back. Peeps will see this as another buying opportunity over the next few days and normality will resume.

[strutt12] 26/6/2013 10:14

Doesn't matter how you look at it, 8% down is bad....

[dr biotech] 26/6/2013 09:20

Downgrade this morning by SocGen and of course we are XD too - looks worse than it is...

[kalkanite] 23/6/2013 06:49

Expect a 15 - 16p drop between 26th and 28th as the company goes ex dividend for a 15.4p payment to be received on 19th July

hxxp://www.icap.com/investor-relations/shareholder-information/dividend-information.aspx

[kalkanite] 21/6/2013 20:49

Looks like a lot of shorters are being closed out today

[hcsg25] 21/6/2013 13:36

Dilemma....take £1300 easy profit, or see where this train stops ???