Severfield Share Discussion Threads

[fangorn2] 13/6/2012 08:22

Cheers Jonwig

[jonwig] 13/6/2012 08:18

Register free (it's a worthwhile site) - they won't pester you!

[fangorn2] 13/6/2012 08:16

`Can you link it please....:)

[jonwig] 13/6/2012 06:43

A new note from Edison - couple of pages.

[olison] 12/6/2012 18:02

Sbreadbetting companies not taking shorts on this. Not sure if this is a good thing or not

[jadeticl] 12/6/2012 13:57

The Indian growth rate figures nationally are not as bullish as they were a year ago. To me this suggests that SFR's investment is not as secure as it appeared (when I too thought this was a VERY shrewd move by management). I hope Itchy is correct.

[itchycrack] 12/6/2012 11:25

I think the Indian JV may prove to have been one hell of a good call by management. Without this I would have expected yesterdays TU to have had a much more negative impact on the share price. Personally I think the JV may do well in terms of stemming any significant downside for the time being. Some drifting may occur but a wholesale collapse as has occured with other companies seems to have been averted because of the JV. In this economic climate diversification is the key to not just survival but also longer term growth.

All IMHO of course, DYOR etc.

[fangorn2] 12/6/2012 11:05

Montanaro Asset Management reduces slightly.

[edmundshaw] 12/6/2012 08:57

I'd want to know the latest from India - and expectations over the next 5 years there (likewise for the British Isles). Also more details on the overruns, and how they will be avoided in the future (two projects engenders suspicion of incompetence somewhere).

[jonwig] 12/6/2012 08:24

I might get to the AGM tomorrow (not sure).

Anyone with any pressing questions they'd like me to put?
(Not many left here, I suppose!)

Meanwhile, Questor says "Avoid" -

[bluesbeater] 11/6/2012 08:13

sudden turn around from last month.

[jonwig] 11/6/2012 08:11

"Severfield moves closer" to it's final profit warning.

Is this one the last?

There should be some firm numbers on Wednesday (AGM statement).

[grupo guitarlumber] 29/5/2012 06:46

Franc Forecast
Ian Stannard, head of European currency strategy at Morgan Stanley in London, said the SNB will eventually be forced to give up its franc defense as Europe's crisis worsens, reaffirming the currency's haven status. He sees it strengthening toward 1.10 per euro later this year.

The ceiling will probably "give away in the third quarter of this year," he said. "It's going to be very much the sheer weight of the amount of interventions that would have to be done to maintain it."

Data show the SNB has been reducing its euro exposure over the past two years. Euro holdings accounted for 51 percent of reserves at the end of the first quarter, down from 70 percent in the second quarter of 2010. Reserves of dollars rose to 28 percent from 22 percent in that period.

Michael Derks, chief strategist at FXPro Financial Services Ltd. in London, said investors are likely to continue shifting out of euros over the coming months.

"With European politicians bereft of coherent ideas on how to resolve the sovereign debt and banking crisis, and with Greece on the verge of being forced out, it's little wonder that anyone with any exposure to the single currency is doing something about it," he wrote in an e-mailed note. "For now, fearing the worst for Europe is probably the right call."

'Acute Threat'
Jordan, speaking at the same event in Frankfurt as Weber, signaled that the SNB was running out of tools as the franc ascended to a record last year, which threatened export competitiveness and economic growth. The ceiling was "really the only effective option we had at that time available to combat the acute threat," he said.

With the euro-area turmoil clouding Switzerland's economic outlook and new Greek elections looming on June 17, Jordan has to remain vigilant, said David Kohl, deputy chief economist at Julius Baer Group Ltd. (BAER) in Frankfurt.

"There's a general increase in risk aversion," he said. "It may well happen that some people out there might be tempted to test the SNB's resolve. It's a bit like poker -- the SNB may have bad cards but it has the deepest pockets."

To contact the reporter on this story: Simone Meier in Zurich at [e-mail]

To contact the editor responsible for this story: Craig Stirling at [e-mail]

[waldron] 21/5/2012 19:43

Credit Suisse CEO Considers Sharp Franc Rise Unlikely
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Credit Suisse Grp. American Depositary Shares (NYSE:CS)
Intraday Stock Chart
Today : Monday 21 May 2012
Loan loss provisions for Swiss companies have come down despite the strong Swiss franc, providing evidence that the countries' companies have coped well so far with the strong Swiss franc, Credit Suisse (CS) Chief Executive Brady Dougan said Monday.
"Corporate Switzerland is more diverse than people think," Dougan said at a conference for investors in New York, hosted by Deutsche Bank.
Of course there are exporters who find it harder to sell abroad when the franc is strong, but importers of goods benefit, and there are many companies with limited currency exposure in either direction.
The Swiss National Bank drew a line in the sand at CHF1.20 against the euro last September which brought down volatility and kept franc strength in check, he added.
"If you had a dramatic strengthening of the Swiss franc, which we think is unlikely, you would of course see an impact," he said. But added that "we feel good about corporate Switzerland."
He also reiterated that the bank, Switzerland's second-largest behind UBS AG (UBS), is well positioned to achieve its target of a 15% return on equity in any market environment. He also reiterated that Credit Suisse was well on track to exceed its cost savings target.
-By Anita Greil, Dow Jones Newswires; [phone]; [e-mail]

[ariane] 02/5/2012 13:34

One in Four Investors Expect Higher SNB Floor Soon - Barclays
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Barclays (LSE:BARC)
Intraday Stock Chart
Today : Wednesday 2 May 2012
Nearly one in four investors expect the Swiss National Bank to raise its euro floor over the next three months, a survey by U.K. bank Barclays showed Wednesday.
About 23% of investors polled expect the Swiss central bank to raise the floor to at least CHF1.25, while 93% expect the current minimum CHF1.20 exchange rate to hold over the period.
Of the 7% who said they expected the floor to give way in the next three months, the most common reason given was that market pressures would eventually force the SNB to abandon it.
The Swiss franc has strengthened as the euro-zone crisis prompts currency traders to seek out safer alternatives to the euro.
Barclays, which expects the floor to be raised at some point in the next three months, said it received more than 100 responses to its survey but nonetheless warned that it was a small sample and so should be treated with caution.
By 1015 GMT, the euro was trading at 1.2017 against the Swiss franc.
Data Wednesday showed Switzerland's manufacturing sector shrank in April due to the growing economic gloom that surrounds it in the euro zone and amid renewed tensions due to the strong Swiss franc.
- By William Kemble-Diaz, Dow Jones Newswires; 44-20-7842-9347; [e-mail]; @djfxtrader

[waldron] 27/4/2012 09:59

SNB Jordan: Swiss Franc Still Overvalued, Challenge To Economy
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The Swiss franc is still overvalued at 1.20 against the euro, presenting a major challenge for the economy, the Swiss National Bank's new President Thomas Jordan said and reiterated the central bank's pledge to enforce the minimum exchange rate with utmost determination.
Speaking at the central bank's annual general meeting in Berne Friday, Jordan said that in light of the high level of uncertainty in the international environment, an "appreciation of the Swiss franc at the current time would again expose Switzerland to considerable risks and, once more, endanger both price stability and the stabilisation of the economy."
The SNB is therefore ready to take further monetary policy measures if required, Jordan added.
Turning to the recent breach of the CHF1.20 floor that occurred just before the Easter holiday, Jordan said: "It was only for seconds and resulted from market idiosyncrasies."
That incident aside, the best rate in the market for the sale of euros against Swiss francs has never fallen below CHF1.20.
"The SNB was thus able to successfully enforce the minimum exchange rate even under extremely difficult conditions," he added.
In an implicit reply to repeated calls from some politicians and industry groups to raise the floor to CHF1.30 or higher, Jordan said: "A minimum exchange rate is an extreme measure, only to be introduced in a situation of massive overvaluation, with the aim of averting the worst developments. It is neither a panacea capable of solving all the problems facing the Swiss economy, nor can it simply be implemented for any desired level, free of any risk."
-By Anita Greil, Dow Jones Newswires, [phone];
[e-mail]

[damanko] 05/4/2012 10:07

And here is the other one, my apologies - it has actually been announced:



Should be happy days for Severfield.

[damanko] 05/4/2012 09:41

Two contracts coming up in London, one can be told - and one which hasn't yet been announced, formally. Severfield will be involved in both - each of which will be worth half a billion pounds plus.

Here's the first one:

[jonwig] 04/4/2012 12:06

Thanks for the link, corbeta.
It was commented upon in today's press - maybe a key reason why the UK might escape recession.

A little video here: