Severfield Share Discussion Threads

[pugugly] 05/11/2012 14:55

£9m to £1 million - Surprised share price is holding up as well as it is. Borrowing down to £28.3m down from some £31.2M refs but still significant at the new market cap -

?? Could this be heading for the NTAV figure of some 66p (source Refs October) ??

Has been a disaster zone since Jan 2010 ..

While no mention made of Dividend I would suspect that it should be cancelled as would be some 75%-80% uncovered.

(imo dyor e&oe)

Views ?

[pre] 05/11/2012 14:52

were they anticpating £9m profit before tax as mentioned earlier???if so quite a drop to a revised estimate of £1m..

[edmundshaw] 05/11/2012 14:50

Initial thoughts for me is it is about time reality came to the SFR share price. Depending on your timescale 100p seems not unreasonable going into an eventual recovery. But given the previous predictions on a timing of that recovery, I would not be betting on 2013.

As the market is not usually so long term, I would have expected the price here to have tanked a year back. But this share seems different, so I cannot make any predictions. But I shall not be buying at 90p; for me that would be a gamble.

[bluesbeater] 05/11/2012 14:49

I was ahead before lunch, only just! Turned out to be quite an expensive lunch!

[edmundshaw] 05/11/2012 14:47

2pm on a Monday. Diabolical timing, though I suppose it could have been 4pm on a Friday.

[jonck] 05/11/2012 14:43

oh dear indeed. Initial thoughts are the share price drop is an over reaction.

[fangorn2] 05/11/2012 14:42

Even better if the RNS would actually show up on IG index when it hit

[jonwig] 05/11/2012 14:40

They really shouldn't announce this stuff over lunch!

PBT was expected at £9m, so the hit to the share price is understandable.
They are trying for some positives elsewhere in the IMS.
100p is tempting!

[waldron] 31/10/2012 09:04

What would be the factors that would be required to unpeg the CHF from the Euro ?"

[jadeticl] 24/10/2012 15:10

I can still recall when 08/09/10 were a problem but the market recovery was in 2011. Mm! Then 2012. Mm. Now 2013. Not long to go. Wonder if it jan or dec?

[waldron] 29/9/2012 08:41

Sep 25, 2012 - 17:52Ratings agency questions SNB euro intervention

Image Caption: The SNB's maximum peg of one euro to SFr1.20 will remain in place for the foreseeable future (Keystone)Related Stories
SNB independence put to the test
Economy to slow further, experts warn
Banks perilously exposed to market downturn
Switzerland's central bank has accelerated the eurozone's increasingly uneven wealth distribution by investing significantly in more stable European countries to dampen the Swiss franc's value, according to a ratings agency.


However, the Swiss National Bank (SNB) denied Standard & Poor's estimates that it had bought €80 billion (SFr97 billion) worth of bonds issued by the "core" eurozone countries of Germany, France, the Netherlands, Finland and Austria during the first seven months of 2012.

This would amount to 48 per cent of those countries' collective full-year deficits, of which Switzerland bought only about 10 per cent in 2011, according to a Standard & Poor's report released on Tuesday.

The SNB does not release details of how it manages its reserves, but told the Swiss News Agency that the Standard & Poor's study was based on false assumptions and that its figures were therefore incorrect or unfounded.

The ratings agency report "ignores the sizable increase of SNB deposits with other central banks and international institutions which are published monthly by the SNB," the SNB added.

The United States ratings agency alleged that the Swiss central bank's investments, coupled with strong demand for the "safe haven" franc, had effectively funneled assets away from the eurozone's weaker economies, such as Greece and Spain.

The interventions had also driven down yields for bonds issued by the core European economies, which stand at 2.15 per cent year-to-date, versus 3.04 per cent in 2011, according to the Standard & Poor's calculations.



Swollen foreign reserves
For the last year, the Swiss central bank has swollen its foreign reserves to around 75 per cent of gross domestic product (GDP) as it defended its exchange rate floor of SFr1.20 against the euro.

The investment trend leaves some Swiss worried that they could be in trouble if the debt crisis continues to deepen. The rightwing Swiss People's Party, for example, has continued to speak out against the SNB's euro investments, declaring them too risky given losses incurred in previous SNB interventions.

But some investors believe things are looking up with the Swiss franc weakening against the euro for the first time in many months. This has been accompanied by a recent fall in European bond yields.

However, Swiss National Bank chairman Thomas Jordan was quick to note on Tuesday that these developments should not be interpreted as signs of a definite eurozone recovery.

"Unfortunately, it's probably still too early to tell whether this is in fact the case or not," Jordan said at a business event near Zurich this week.

Jordan also said that the SNB's maximum peg of one euro to SFr1.20 will remain in place for the foreseeable future, with no planned end date for the policy.



swissinfo.ch and agencies

[waldron] 25/9/2012 17:15

SNB: S&P Report On Bonds Contains Fundamental Error
Print
Alert
The Swiss National Bank Tuesday said a report by rating agency Standard & Poor's on its holdings of euro-denominated government bonds contained a fundamental error.

The report "ignores the sizable increase of SNB deposits with other central banks and international institutions which are published monthly by the SNB," the Swiss central bank said in a statement.

"The conclusion by S&P that the Swiss National Bank has bought about 80 billion euros of government bonds of core euro zone countries is unfounded."

Write to [e-mail]

[jonwig] 11/9/2012 07:36

Billington [BILN] H1 results show a reduced loss and "Market remains challenging, although tentative signs of margin recovery; Billington well placed to capitalise on expected, gradual market recovery from 2013 onwards".

[bluesbeater] 07/9/2012 14:02

Nice to see an uptick though Jonwig, evidently someone thinks it is not all gloom, or is ready for a long term hold, which should see a multibag in due course from this price

[jonwig] 07/9/2012 12:52

New note from Edison - "Headwinds unabated" so no hopes of imminent multibagging!

[waldron] 05/9/2012 10:04

Swiss Franc Still Over-valued, says SNB'S Danthine

By John Revill
ZURICH--The Swiss franc is still over-valued, the vice president of the Swiss National Bank said at a conference in Zurich Wednesday.
The franc reached near parity against the euro last year, threatening the Swiss economy, before the SNB imposed a floor of 1.20 Swiss francs against the euro in September.
"The minimum exchange rate has pushed it [the Swiss franc] to a reasonable level. But the Swiss franc is still over-valued, it is still very highly valued," Jean-Pierre Danthine said.
The bank's interest rate policy isn't applicable as a measure to weaken the currency, he said.
Write to John Revill at [e-mail]

[ariane] 03/9/2012 11:59

Swiss SNB Jordan: Will Continue to Enforce Euro Floor with Determination
Share this article PrintAlert
The Swiss National Bank will continue to enforce the euro's minimum exchange rate against the Swiss franc with utmost determination, the central bank's chairman said Monday.
"In the current situation, a further appreciation of the Swiss franc would constitute a very substantial threat to the Swiss economy, and would carry with it the risk of deflationary developments," Thomas Jordan said in speech to bankers.
Economic uncertainty in the euro zone is of great concern for Switzerland and the SNB, he said.
The SNB is willing to act resolutely to dampen the negative implications for Switzerland from the neighboring euro zone's economic crisis, he said.
"With this in mind, we will continue to enforce the minimum exchange rate with the utmost determination," Jordan said.
It's now almost a year since the SNB set a lower limit for the euro at 1.20 Swiss francs, known as a floor or minimum exchange rate. This bold act to prevent the franc from rising after it had reached record levels against the euro and the dollar during the summer has been remarkably successful. For many months, the SNB didn't have to intervene much in currency markets to prevent the euro from falling below the minimum rate targeted. However, since concern over the stability of the euro zone started to build during the first quarter, the SNB's resolve has been put to the test and it has had to intervene heavily in currency markets.
A year since the floor was established, overall Swiss foreign-currency holdings have grown by one-third, to the equivalent of 406.5 billion Swiss francs ($419.2 billion)--the largest for Switzerland on record.
Write to [e-mail]

[napoleon 14th] 28/8/2012 01:08

Long hard slog ahead for SFR.
I was in these in happier times, & reckon they're worth keeping an eye on,
but imo buying back in could be two years off or more...

[sleveen] 22/8/2012 14:02

A useful rule of thumb is to do the opposite of what the chronic invester states. However, this time I am inclined to agree.