Severfield Share Discussion Threads

[jonntara] 23/1/2013 17:35

I was feeling pretty good about getting in at 85p last night and even wrote an up beat post. Shows what I know.

[edmundshaw] 23/1/2013 17:10

Sitting duck for a takeover? With £30m in debt? Maybe for someone with deep enough pockets, a very nice market positionh; but at what price?

OTOH, sitting duck for banks to engineer a debt for equity swap diluting current shareholders into obscurity.

OTOOH, muddle through and wait for the upturn (You need 3 hands for this one though...).

Yer pays yer money and yer takes yer choice...

[spaceparallax] 23/1/2013 11:23

There are perhaps too many external factors conspiring against them - wish them well, hopefully able to survive until better times.

[walthera] 23/1/2013 10:15

I see the CEO has gone with immediate effect but how was he in the job in the first place with a BA in Social Science and with recent annual compensation of around £700,000 according to Bloomberg!

[batham1] 23/1/2013 10:03

As they say....pride comes before a fall. Feeling smug until yesterday having got in at 85p! Now what...buy more, sell or hold?????

[spaceparallax] 23/1/2013 09:59

This is a sad state of affairs - they were a really good steelwork producer

[harry hedge funds] 23/1/2013 09:07

Will it mow become a takeover target? Sitting duck!

[3800] 23/1/2013 08:12

blimey down to 65p now
3800

[3800] 23/1/2013 08:11

amazingly this is now 95p to sell, still more than a month ago. I would like to buy into this company but there is still to much uncertaintly here. Banking covenants are like nuns knickers something that sould never even get mentioned.
3800

[edmundshaw] 23/1/2013 08:00

This is sounding tragic. Such a brilliant company under the past leadership. One onerous contract should not bring it to its knees unless there has been some pretty poor contract writing/management. It just doesn't sound right at all.

I have been amazed at the share price given all the negatives on this stock. But I would not think of shorting here. However there will be some whose conscience will not be bothering them on that score I guess.

[volvo] 23/1/2013 07:55

Yes 60p today, then 30p in next few weeks.

Good company and recovery play...........but it could always go bust.

You takes your choice.

[rivaldo] 23/1/2013 07:29

Exactly jak1, nor could I! As I posted before, this share seems to have had a following who push the price back up no matter what. Perhaps this will be the final straw that breaks the camel's back.

It's a shame, as it's undoubtedly a good British company. But the covenant news and the contract review may well freak the markets.

[jak1] 23/1/2013 07:16

Would not go near this over 50p. I couldn't understand why punters were buying in after the last update !!!

[mirabeau] 23/1/2013 07:10

You know something isn't quite right when a company starts talking to its bank(s) about its covenants

[volvo] 23/1/2013 07:08

Bad news...........again.

This time 40, 50p ish.

Good recovery play, but still risky with the lending.

[jonntara] 22/1/2013 20:39

Look at what has happened to the house builders during the last year or so. I think the same will happen with this sector given time. look on youtube at the promotional videos of their joint venture in india. Theres a lot of potential there in my opinion.

[jadeticl] 22/1/2013 12:45

I was about to buy at 100p (thinking they cannot fall below this) but they continued down and I got cold feet. Very pleased to see this "recovery". What will happen to the divi when they next announce? Can this go any lower?

[bluesbeater] 19/1/2013 11:24

Bought at 1.40 just before the big fall, that somehow knocked the wind out of my sails to average down! Still, with time should prove a profitable trade.

[jadeticl] 17/1/2013 20:30

We should all have bought very heavily at 85p a few weeks ago, never mind the directors. £50K invested at 85p would have seen me sitting pretty awaiting the real recovery. But of course I listened to edmunshore didn't I????

[zeuseq] 17/1/2013 16:23

I get the feeling this being held back, 140p is very achievable near term imho.

[waldron] 16/1/2013 13:39

World Bank Says Currency War Possible
PrintAlert
WASHINGTON--The World Bank's top economist said a global series of tit-for-tat currency devaluations is possible but unlikely this year, despite the organization's forecasts of upward pressure on exchange rates of major commodity exporters.
Kaushik Basu, the World Bank chief economist, said fear of retaliation is likely to prevent a series of competitive devaluations known as a currency war. Expensive yen, Brazilian reais and Australian dollars make those countries' products more expensive in world markets, curbing exports.
"Each country realizes that it is such an interconnected world that a brash move in trying to lower the exchange rate to get a trading advantage means there is going to be a reciprocal action by other countries," Mr. Basu said in an interview. "It is a possibility...but I do not expect that," he said.
Some economists, such as Adam Posen, president of the Peterson Institute for International Economics, see the potential for a cascade of currency interventions around the globe. For example, Mr. Posen predicts that by fall, Japan, Brazil, Australia or another country will follow Switzerland's move and actively intervene in foreign-exchange markets to push down the value of its currency.
The World Bank, in a report published Tuesday, said it expects continued volatility in developing countries' exchanges rates as their economies are buffeted by global financial markets. A flare-up in Europe's debt crisis and a protracted fight in the U.S. over the budget are the most obvious potential sources of exchange-rate instability.
Commodity prices are likely to remain high as world growth strengthens, putting more pressure on currencies of major commodity exporters such as Brazil and Australia, the bank said. That's especially true for those economies that have developed financial markets able to receive major capital inflows.
Mr. Basu said 2013 could also see emerging markets become a top driver of global growth, giving them a new role in world markets.
"We could, in retrospect five years down the road, look back and say that this was the year that the real driver of global growth moved to emerging economies," he said. "This could be one of those marked years when the changing of the guard occurred."
Industrializing economies such as China, India and Brazil have been growing rapidly, helping them gain economic and political power on the global stage. The U.S. financial crisis and the euro-zone sovereign-debt woes have accelerated a perceived shift in global economic and political power.
China's export-led growth, fueled by low wages and an exchange rate many economists say is undervalued, has come at the expense of other economies, including the U.S. Washington has led efforts to press Beijing for a rebalancing of China's economy, seeking a more market-determined exchange rate, developed financial markets and domestic-driven growth.
Mr. Basu said that weak growth in Europe and the U.S. is forcing the major emerging economies now to rely more on domestic consumption.
"I am hopeful that Chinese and Indian domestic demand will pick up simply because they are being pushed into a corner with demand so slender from industrialized nations," Mr. Basu said.
Write to Ian Talley at [e-mail]
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[roddiemac2] 14/1/2013 09:48

ItchyCrack -----Directors buying and selling has indeed been a very reliable indicator, in the main.