ISEQ: Up or down? - The Stockmarket Thread


#1

The other thread was perfectly interesting before it got hijacked by some discussion on empty units.

So I’ll kick this one off with some news from the UK this morning.

Irish Bank shares are getting massacred this morning on the back of this Northern Rock news. I think BOI has the largest exposure to UK mortgages, it was down 3% early on but looks to have recovered slightly. AIB down about 2.5% right now.


#2

Anybody have a snappier title, let me know and I’ll change the existing one pronto… :wink:


#3

Iseq taken a thumping at the moment, in fairness in crept up ever so slightly recently. ever so slightly.

breakingnews.ie/business/mhkfidmhqlcw/

All the bank shares seem to be down 1.5 to 2 percent so far today.
If only house prices were dropping that fast.

"There was little or no growth across the board, and AIB was among the big losers – dropping €0.42 to €20.38.

The other financial houses faired little better; Anglo Irish were down €0.25 to €14.60 while IL&P dropped €0.36 to €18.56. Bank of Ireland fell €0.20 to €14.82."


#4

The ISEQ taking another pasting this morning - down 110 points so far.


#5

My prediction for the iseq on “Black Friday” is 8900 , anyone else want to stick a prediction here?


#6

PaddyPower appears to be the only stock on the ISEQ still on an upward trend. What does that tell you?


#7

If it drops below 9000 it will be psychologically huge. Some shares are beginning to enter a range I would call “cheap” but you’d need to be very careful.

One thing to keep in mind in the current climate is that international investors who hold the majority of Irish companies are dumping across the board based on Bloomberg headlines. If you have good knowledge of the specific companies you may have an advantage here if you feel that they are being oversold.

I’m not suggesting you should buy them but as an example take a look at CRH or AIB. These companies are enduring the same % losses as say Grafton and BOI, but they are not equally affected by an Irish downturn. A foreign fund manager who thinks Ireland is going the way of Spain may not have the same understanding.


#8

As someone once told me, there are two recession-proof industries - drinking and gambling.

In this case though, I think its that other old maxim of diversification. Paddy Power Auf Deutsch.


#9

ISEQ down 200 points, read the CDO thread to find out why…


#10

McInerney Holdings down 7.34% today :open_mouth:


#11

Lads cool down. last summer when the israelis were bombing the road to damascus we had Iseq below 7000. Ye are seeing the froth being blown off the market.

Two odd years ago my father in law bought Bank of Ireland for 13.20 with some of his retirement money (he sold when it was around 16) Today its 14.65 if he hadn’t sold that would be 11% and dont forget the dividends. That would be a very good return, All the higher prices are just froth and we are returning to more realistic prices.

I wouldn’t call BOI a buy until it goes sub 13 euro


#12

iseq down 125.46 this morning , what is going on? it is only the iseq the rest of the markets seem ok

FTSE 100 6600.7 -14.40
Dax 7900.0 1.43
Cac 40 6001.4 0.31
Dow Jones 13577.9 76.17
Nasdaq 2651.8 12.63
S&P 500 1518.8 8.64
BBC Global 30 5922.6 7.40


#13

Grafton are down on good earnings.


#14

ISEQ Watch - Perhaps 8)


#15

ISEQ down to 9,085.15

Will it below 9000 on black friday , which is this Friday isn’t it?


#16

I thought it was Friday week, the 27th.


#17

The ISEQ has dipped below 9000 this morning - usual suspects, the banks and CRH, are in the red.

That’s -10% since February.


#18

closest to lowest of the year:8987.68


#19

8981 now - remains to be seen where it will close today, of course.

BoI seems to be the biggest loser this morning, down 2.5% so far.


#20

Taking another tumble today

8927.04

lowest point of the year