Severfield Share Discussion Threads

[the grumpy old men] 20/6/2024 07:49

1 Euros = 0.9486 Swiss Francs

The EURCHF rate as of 20 Jun 2024 at 7:47 AM

[roddiemac2] 19/6/2024 18:11

bend1pa

The shares did not get a drubbing because they did not deserve one. The debt looks justifiable given the prospects . The joint venture in India is beginning to look promising . As you say " not great" but they are doing all the right things.

[bend1pa] 19/6/2024 16:59

Final results turn out to be a surprising disappointment.

YoY-Revenue £463.5m, down 5.8%; PBT at £23m, down 15%; Basic EPS 5.18p, down 25.7%; Net Debt (IFRS16) £28,444, up 166%; Operating Cash Flow (2024) £45,136m (2023) £50,292m.

Altogether, these are not great results IMO. Net gearing is 12.9%, not a worrying level yet, but they had net cash in 2023. They are confident, as they raised final div by 9%, but I reckon it would have been more prudent to have left that unchanged. At least the share price avoided a drubbing as the immediate market reaction was mildly positive. But for how long?

[grupo] 19/6/2024 12:46

1 EUR = 0.9508 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 19 Jun 2024 at 12:45 PM.

[maywillow] 19/6/2024 09:05

1 EUR = 0.949 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 19 Jun 2024 at 9:04 AM.

[misca2] 19/6/2024 07:03

1 EUR = 0.9494 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 19 Jun 2024 at 7:02 AM.

[the grumpy old men] 18/6/2024 15:36

1 EUR = 0.9506 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 18 Jun 2024 at 3:35 PM.

[waldron] 18/6/2024 11:13

1 EUR = 0.9513 CHF

The live Euro to Swiss Franc exchange rate (EUR CHF) as of 18 Jun 2024 at 11:12 AM.

[the grumpy old men] 18/6/2024 06:34

1 EUR = 0.9539 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 18 Jun 2024 at 6:33 AM.

[waldron] 17/6/2024 17:27

1 EUR = 0.9556 CHF

The live Euro to Swiss Franc exchange rate (EUR CHF) as of 17 Jun 2024 at 5:26 PM.

[waldron] 17/6/2024 08:47

1 EUR = 0.9538 CHF

The live Euro to Swiss Franc exchange rate (EUR CHF) as of 17 Jun 2024 at 8:47 AM.

[grupo guitarlumber] 16/6/2024 17:26

By Tim Clayton
Published: Jun 16, 2024 at 09:30

Political Concerns Continue to Undermine the Euro, GBP/EUR Hits Fresh 22-Month Highs

GBP Live Today

Pound to Euro Rate Hits 1.19

European currencies failed to hold gains on Thursday and posted fresh losses on Friday, especially with fragile risk conditions as European equities under-performed relative to Wall Street.

The Euro remained firmly on the defensive amid political concerns with a particular focus on the French bond market.

The Pound to Euro (GBP/EUR) exchange rate advanced to fresh 22-month highs at around 1.19 amid Euro vulnerability.

According to Credit Agricole; “While we recognise that some negatives are already in the price of EUR/GBP, we maintain our bearish outlook on the pair, targeting a return to 0.84 in the coming months.” (1.1905 for GBP/EUR).

The dollar dipped after the producer prices data on Thursday amid increased hopes for a Fed rate cut in September, but it secured fresh support later in the session with net gains against European currencies.

In this environment, the Pound to Dollar (GBP/USD) exchange rate lost ground with a retreat to near 1.2720.

Overall confidence surrounding the Euro area dipped again with a particular focus on the French political situation ahead of snap parliamentary elections at the end of June.

French bonds (OATs) were sold again, especially in relation to German Bonds (Bunds).

MUFG commented; “The OAT/Bund spread is now at 73bps, breaking above the energy-crisis and global pandemic highs to reach the widest spread since the 2017 French presidential elections when the financial market first feared the risk of a Le Pen presidency. It didn’t happen then, nor in 2022 but the markets now rightly fear it could be ‘third time lucky’!”

foreign exchange rates

ING also noted the impact of political stresses; “We're not French political experts, but it looks like the euro is taking another leg lower in early Europe today on news that the French parties of the Left are getting their act together to form a coalition and only run one candidate per district between them. This rare cooperation of the Left stands to suck support from President Macron's party further.”

It added; “With opinion polls taking such a toll on the euro and presumably more polls due this weekend, we expect investors will want to manage their euro exposure carefully.”

The bank does not expect near-term relief during the French campaign; “It is going to be a long month for the euro. And next week could see the European Commission place France in an excessive deficit procedure.”

The Pound has been dominated by global developments this week, although there was a weaker housing survey and markets will continue to monitor Bank of England expectations.

The RICS housing survey weakened to -17% for June from -7% previously and compared with expectations of a further small recovery to -5%.

According to the survey; “This appears to be linked to the recent scaling back in expectations around the degree of monetary policy loosening likely to be pushed through by the Bank of England during the second half this year”

It added; “With respect to the near-term outlook for prices at the national level, expectations suggest that some further downward pressure could be seen in the coming three-months.”

There was still an element of optimism; “Nevertheless, respondents still foresee a modest recovery in residential sales volumes getting back on track over the months ahead.”

The latest BoE survey reported a decline in 1-year inflation expectations to 2.8% from 3.0%.

UK economic developments next week will be important with the BoE policy decision on Thursday.

Ahead of the announcement the latest inflation data will be released on Wednesday.

Markets do not expect a rate cut at this month’s policy meeting, but guidance from the BoE will be watched closely.

Weaker-than-expected inflation data would also increase speculation that the BoE will cut interest rates at the August meeting and potentially undermine the Pound.

Tim Clayton

Contributing Analyst

[adrian j boris] 15/6/2024 07:45

1 EUR = 0.9559 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 15 Jun 2024 at 7:44 AM.

[misca2] 13/6/2024 19:21

1 EUR = 0.9603 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 13 Jun 2024 at 7:20 PM.

[adrian j boris] 13/6/2024 09:31

1 EUR = 0.9675 CHF

The live Euro to Swiss Franc exchange rate (EUR CHF) as of 13 Jun 2024 at 9:29 AM.

[waldron] 11/6/2024 07:25

1 EUR = 0.9655 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 11 Jun 2024 at 7:24 AM.

[waldron] 11/6/2024 07:23

Currency: The Euro isn't penalized by rate cuts, but by European elections

June 10, 2024 at 09:52 am EDT

MarketScreener.com By Yves Sanquer


While the European Central Bank has lowered its main key rates, the euro will have to wait for the outcome of the European Parliament elections to take its toll.

As we regularly write in these columns, monetary policy (expectations) are one of the main drivers of foreign exchange market movements. So, when a central bank begins an aggressive tightening or rate-cutting cycle, traders generally make the necessary arbitrages to readjust their positions and take advantage of any carry trades. Although the rule is simple, it is not always reflected in the price action of the currencies concerned. For this reason, it's always best to wait for an alignment between macro vision and chart configuration, in order to maximize your chances of success.

Thus, the EURUSD was still hovering around its resistance level of 1.0890, despite the ECB's action. Things really started to heat up with the release of US non-farm payrolls, while the outcome of the European elections put the final nail in the coffin. The currency broke through the 1.0790 level at the bottom of the uptrend channel it had been following since April.

Elsewhere in the world, there was little change in the USDJPY, where a range is still expected. Commodity currencies are awaiting the Fed meeting and its implications in terms of monetary policy. AUDUSD is fluctuating between 0.6578 and 0.6700, with next levels at 0.6474 and 0.6853 respectively. As for the kiwi, it remains well oriented above 0.6110/00, although it has come up against intermediate resistance at 0.6200/20.


Yves Sanquer
Rate Specialist

[waldron] 10/6/2024 17:08

1 EUR = 0.9644 CHF

The live Euro to Swiss Franc exchange rate (EUR CHF) as of 10 Jun 2024 at 5:08 PM.

[bend1pa] 10/6/2024 13:12

Stuck solidly in a range of 68 - 73p now. I would not like to call this one as the share price has disappointed so often, even when past results have been encouraging. Final results are due 19 June, and expected to be decent. Any disappointment and share price will no doubt tank. From a chartist pov, the share price graph currently does not look good.

But for the time being, I'm holding.

[la forge] 08/6/2024 17:50

EUR = 0.9707 CHF

The live Euro to Swiss Franc exchange rate (EUR CHF) as of 8 Jun 2024 at 5:49 PM.

[florenceorbis] 07/6/2024 17:34

1 EUR = 0.9683 CHF

The live Euro to Swiss Franc exchange rate (EUR CHF) as of 7 Jun 2024 at 5:33 PM.

[waldron] 05/6/2024 07:33

1 EUR = 0.9693 CHF


The live Euro to Swiss Franc exchange rate (EUR CHF) as of 5 Jun 2024 at 7:30 AM.

[diesel] 01/6/2024 10:03

Roddie, agree, they have diversified well, in the UK with nuclear and infrastructure, the acquisition of Voortman for a European operation and as you say India which is growing nicely. With a good divvy and now a share buyback programme, this a good stock to have in your portfolio.

[roddiemac2] 01/6/2024 07:45

bend1pa

I agree with your comment re. the market, however this could be a long term opportunity. I think that the company`s joint venture in India could prove a very shrewd move. The potential for growth in the use of steel construction in India is massive; the same cannot be said for the market in Britain. Watch this space.