Their investment bank business is being eviscerated (like most European banks) and they don’t have much domestic or international business beyond that. Added to that they were very slow to reveal the true state of their balance sheet problems. Maybe overselling by petrol sovereign funds but the prognosis is poor. Generally speaking Euro banks have a long ay to go.
Deutsche Bank and CS are discussed in the latest FT banking podcast.
Summary of CS. With core income a bit meh, they’re not going to hit growth targets. So if they won’t hit their CT1 ratio from internal cash flow and can’t sell assets in the current market so it looks more and more likely they’ll have to return to shareholders for additional capital.
The ASX had a bad day. The media is reporting that it is fear of a global recession.
When the ISEQ and other stock markets nose dived how long did they take to pick back up?
I remember they dropped a months at least in advance of the property crash becoming news & they recovered in advance of positive growth.
How to play the ASX pinsters?
The usual topsy turvy shite … markets all have a bounce as soon as Yellen announces the US economy is borked.
Asia falling, UK falling, Europe falling. This is a great time to start building a position.
The position being barricading yourself into your house with an AK47 and lots of tinned food.
Does Alan Kelly even know how to cook beans?
I suppose you could always eat him with the beans. And a nice Chianti.
This is why I’m having problems believing that the world economy is shagged.
If I get caught at the level crossing for the railway track which serves Neckarsulm I have to wait an eternity for the half-mile long trains full of new Audi A4 cars to pass by.
I know a lot more cars are being financed than being bought straight but to be honest I only see this as a problem for the banks who have nothing productive to do with their Customers deposits rather than the rest of the economy and if it hastens the death of AIB and BOI then I’m all for it. Volkswagen Credit and all the other Car Manufacturer credit houses are doing a roaring trade at the moment.
I think cars have an intrinsic worth to them compared to a shack in a slum valued at 5 times average income os if there is a bubble it will never get as big as the housing bubble.
Chinese Ponzi-schemers planning to drive their loot away?
My pension fund continues to slump downwards. The equity portion is now ~12% down from 2015 peak.
Ryanair (of which I have lots) is down ~15% despite excellent profitability and low oil prices. Presumably it’s all in the correlation.
I’m in the same position with ryanair but not down 15%. It is in an unassailable position. It is as recession proof as you are going to get in the aviation business. growth prospects are huge and profitability is good and despite all of this when the market goes down, it tracks it down. I hope that the market will pay attention to another quarter of good results but they didn’t pay attention to the last quarter’s good results.
Could this have anything to do ETFs?
australia is long overdue a recession and all signs suggest its in one or will be in one before long , australia is not a particularly well diversified economy , its really only chinas quarry
i see the ASX falling another 30% in the next few years
ryanair doubled from october 2014 to november 2015 , its long overdue a correction , ryanair was about the only airline which gained in SP this past year , american airlines were a horrible investment in 2015 , as were most european ones including easyjet , ryanair stock price went nowhere for most of 2014 despite delivering excellent returns , stocks dont rise indefinately regardless of performance , the market makers decided when it will go up or down in the short to medium term
So what is a good price for Ryanair shares?
If it is a good company with high profits and growth prospects and the market already recognises that, the shares will be no bargain.
If it goes to 17 euro per share I’m content enough. I’m not greedy
Bond market at least thinks they are great. They give them money for practically nothing.
The flights I fly on are always full and I can’t find a cheap flight home in March or April so they are not struggling to fill their planes.
I was following a MotleyFool (appropriately enough) blog in 2001 which had a cheer leader who thought Nokia could do no wrong. I bought and my shares went up 10% the next day. After that one day they have never been in the black.
Sin a bhfuil: a lesson learned
Is this the same Ryanair that is up 40% year on year?