Tp Icap Share Discussion Threads

[coxsmn] 11/6/2021 12:27

https://www.ft.com/content/6d9a5ae5-43fe-4f18-be49-b907a9c3a5e0

[coxsmn] 11/6/2021 11:27

Shore capital2021 eps=27.5p, divi=13.75p, yield 6.6%2022 eps=29.6p, divi=14.8p, yield 7.15%

[coxsmn] 11/6/2021 10:44

For 2021 onwards, we will target a dividend cover of approximately 2x adjusted earnings. The new dividend policy reflects a balanced approach to capital allocation and is expected to allow TP ICAP to drive growth, while allowing dividends to increase in line with adjusted earnings.

[sick of it] 10/6/2021 18:10

New interim dividend will be announced in August half yearly update. The cut was only for the past year. So I'm buying ahead of it. Around two months to go.

[bluemango] 10/6/2021 14:04

What the market is overlooking is how quickly this dividend could be restored to its former level - and even surpass it given the LiquidNet acquisition and earnings from the combined business.

[creditcrunchies] 10/6/2021 11:32

It does seem cheap to book value for some reason, I only sold it around the 260 level when I had these before because I know the market does not react well to large dividend cuts

[ppreston1] 10/6/2021 10:15

Looks like good timing! Great price. This is way too cheap on a forward P/E of just 7x. This will get significantly rerated once the market begins to fully appreciate the value of the Liquidnet acquisition. Just requires a little patience IMO.

[creditcrunchies] 10/6/2021 08:52

I got some at 206 this time

[brucie5] 09/6/2021 17:24

For bottom fishers only... But it is looking extremely cheap.

[sick of it] 09/6/2021 16:51

Going for 199p???

[robsy2] 25/5/2021 16:26

She looks to be right for the picking!

[creditcrunchies] 25/5/2021 15:46

Might be dipping back in soon. I must admit I dumped after the dividend cut around 250 level

[sick of it] 19/5/2021 13:18

It's a good time to accumulate. Liquinet will surprise to the upside in 3 months time when update will come for the first half. Hopefully the integration will be going well by the time.

[bluemango] 19/5/2021 09:16

Missed the director buy yesterday. Kath Cates, appointed recently in September, bought a relatively modest £20,000 worth. Given her role (see below) it's particularly reassuring to see her dip into her own pocket and get some skin in the game. From her appointment announcement Sept 2020: "Interdealer broker TP ICAP has hired Kath Cates, the former global chief operating officer for Standard Chartered Bank, as a non-executive director. Cates will also take on the role of Chair of the Risk Committee"

[davwal] 13/5/2021 15:18

Weird that this stock’s share price is totally driven by piddling auto trades, and hardly a decent trade to be seen. So come on bots, up and away please...

[dhoult12] 12/5/2021 21:46

Well yes, cum-ex sounds a little like it should be more page 3 than the the business section. There's a host of legal going on. TP ICAP are in court trying to get indemnity by saying it wasn't disclosed to them and it's covered by the warrenties when they bought the business, thus NEX are liable. CME who bought NEX after, shockingly disagree and have applied to have that case thrown out. Ongoing. Subsequently, there have been some civil cases rumoured to about to start or started against them by institutions who ultimately settled with the German tax authorities but want to recover the non trivial amounts. See links at base. Obviously the lawyers will be the ultimate winners, TP costs alone were 9m USD when they filed against NEX/CME in Nov and would have increased since then. Surprised as previously stated it wasn't even mentioned in the trading update, given all the inches it's getting in the financial press at the moment. https://www.bloomberg.com/news/articles/2020-12-01/tp-icap-says-it-may-face-blackrock-lawsuit-over-cum-ex-trading https://www.bloomberg.com/news/articles/2021-01-19/deutsche-bank-icap-sued-as-warburg-seeks-to-recoup-cum-ex-bill

[elsa7878] 12/5/2021 21:26

What they need is volatility. The last couple of days should help.

[elsa7878] 12/5/2021 21:25

What they need is volatility. The last couple of days should help.

[sick of it] 12/5/2021 20:06

Ok sorry didn't know about that. I've heard about the litigation but not the term "cum ex" apology. Cum ex sounds like seks with the x

[davwal] 12/5/2021 18:27

Bit of a voting rebellion on the remuneration committee report, I see!

[davwal] 12/5/2021 16:50

TCAP may currently look oversold, but now the update has come and gone and likely nothing else for three months, it feels like it could soon be looking even more discounted.

[elsa7878] 12/5/2021 15:49

Interesting - thanks. Guess any liability would be passed on to NEX.

[dhoult12] 12/5/2021 14:50

Worry about it / dont worry about it. But if of interest see below... https://www.bloomberg.com/news/articles/2020-11-19/icap-probe-expands-as-germany-calls-it-spider-in-cum-ex-web

[sick of it] 12/5/2021 13:32

Don't worry about "cum ex". I doubt the guy knows what is bappling about. Makes no sense. Everyone know tcap overpaid the voice broking business. That's years old news....this new acquisition is looking like the right deal so I think tcap has now turned the leaf.

[elsa7878] 12/5/2021 13:24

Indeed. Michael Spencer is certainly no fool. What is the cum-ex? Should know but I don't....