Royal Bank Of Scotland Share Discussion Threads

[leedskier] 28/11/2016 09:09

FTSE falls on oil majors, financials

StockMarketWire.com

London stocks opened lower as oil majors suffered as the price of crude decline ahead of Opec's much-awaited meeting on Nov. 30, with the market jittery in its hopes for a production cap amid the global oil glut.

Otherwise financials, retailers and supermarkets figured lower.

Soon after the open, FTSE 100 was down 45.78 points, or 0.67%, to 6794.97, while FTSE 250 was down 63.76, or 0.36%, to 17,539.7. At 8.36am, WTI crude was down 1.32% to $45.45/bbl and Brent was down 1.31% to $46.62/bbl. Gold was up 1.23% to $1195.5/oz.

[leedskier] 28/11/2016 08:15

The spread betters were calling the FTSE100 to open unchanged. In fact it is down more than 0.5%.

[gcom2] 26/11/2016 10:19

good news on the 1.5bn from ulster though

[gcom2] 26/11/2016 10:17

That article is 10 days old.
It may be 12bn. it may be 5bn.
RBS has lost around £17bn mcap on worry about a fine of $12bn.
go figure.

[smurfy2001] 26/11/2016 01:37

RBS may be fined more than $12bn to settle US mis-selling scandal

Body that controls taxpayer stake in bank reveals potential scale of penalty in case being pursued by US Department of Justice



James Leigh-Pemberton pointed to negotiations under way between the DoJ and Deutsche Bank, which have started at $14bn. He said the RBS fine “might be $5bn, it might be $12bn”. He added: “Based on what happened to Deutsche Bank it could be more.”

He said the assessment of the fine was based on market estimates: analysts are expecting the bank to set aside between £4.2bn and £9bn of further provisions for RBS to cover fines and legal fees in the next three years.

The bank has set aside £3.8bn to cover other aspects of RMBS and billions more for other misdemeanours. RBS admitted in September that “RMBS litigation and investigations may require additional provisions in future periods that in aggregate could be materially in excess of the [current] provisions”.

RBS shares fell 2% to 208p – below the 502p average price at which taxpayers bought the stake in 2008 and 2009 and below the 330p at which a 5% shareholding was sold in August 2015.

[smurfy2001] 26/11/2016 01:29

A bit of good news for once.

RBS to receive €1.5bn dividend from Ulster Bank

Ulster Bank, which has businesses in both Northern Ireland and the Republic, plans to pay out €1.5bn to RBS subsidiary National Westminster Bank on November 30 after it was given the go-ahead for a dividend by both the Central Bank of Ireland and the European Central Bank.

The payment, which has long been on the cards, will be made by Ulster’s business in the Republic. While the dividend does not change the total capital that RBS holds, it does allow the Edinburgh-based lender to release trapped capital that it can deploy elsewhere in the group.

The payment is also a landmark for Ulster Bank, which state-backed RBS had to bail out to the tune of £15bn following the crash. Ireland’s banking system was plunged into turmoil after its property market collapsed during the crisis.

Gerry Mallon, the Irish lender’s chief executive, said the dividend “signals a very important milestone and is evidence of our strengthening position”. He added: “Ulster Bank remains very well capitalised with a strong balance sheet.”

Ulster Bank’s fortunes have improved significantly since its near-collapse as Ireland has enjoyed a strong recovery following what was the worst recession in its recent history. In 2014, the lender posted its first annual profit since 2008, while RBS, which is still 73pc owned by the UK taxpayer, is yet to do the same.

Bank of Ireland and Allied Irish Banks, which were likewise rescued during the crisis, are also eyeing the resumption of dividend payments.

[polar fox] 25/11/2016 15:17

If anyone's interested in that FT article yesterday, I just struck lucky, by typing "Jeff Sessions white collar crime" into Google. Makes an interesting read and seems to offer a little to both optimists and pessimists. MBS is specifically addressed.

[smurfy2001] 25/11/2016 09:40

Leeds lol ;)

[leedskier] 25/11/2016 09:39

Banks rise!

[maxk] 25/11/2016 09:19

Too little, too late.


brief bio:

[avatar333] 25/11/2016 09:01

Morning.

;

[leedskier] 25/11/2016 08:35

If Fillon, an Anglophile with a Welsh wife, is elected President of France in April could it see a reversal of European sentiment towards Britain?

More importantly could he bring changes, which could reverse sentiment in Britain?

He is pretty right wing, especially on immigration and finance, and an admirer of Margaret Thatcher's transformation of Britain from economic stagnation to global player, especially in financial services.

[maxk] 25/11/2016 08:13

Or as many as it takes .. till the plebs get it right.

[leedskier] 25/11/2016 08:08

Looks like another jam tomorrow day for RBS.

[leedskier] 25/11/2016 08:06

FTSE100 up.

[leedskier] 25/11/2016 06:59

9:30am GBP
Second Estimate GDP q/q

GBP
Prelim Business Investment q/q

GBP
Index of Services 3m/3m

[gcom2] 24/11/2016 17:39

Fine has been known about for many years, it's not new news.