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 Post subject: ISEQ: Up or down? - The Stockmarket Thread
PostPosted: Wed Jun 27, 2007 10:00 am 
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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.

Quote:
FTSE falls on Northern Rock warning

Leading London shares were weaker in early deals with Northern
Rock down sharply after issuing a profit warning

By 08:45, the FTSE 100 was down 44.2 points at 6,515.1

Among early movers, Northern Rock slid 88 pence to 859 at the open
after saying its full-year profit is set to undershoot the current
consensus analyst forecast, as rising forward interest rates take
their toll on lending income

The UK's eighth-biggest bank, said its 2007 underlying
attributable profit for 2007 is set to rise about 15 pct, compared
with the 17 pct increase pencilled in by analysts.

Elsewhere, ex dividend factors weighed on United Utilities, Severn
Trent, Tate and Lyle, Yell Group, British Energy and Compass Group

On the upside, ITV pushed on 1.2 to 111.8 after Citigroup upgraded
its stance to 'buy' from 'hold' and Centrica added 5 to 387 after
Morgan Stanley upped its stance to 'overweight'


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.


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PostPosted: Wed Jun 27, 2007 10:08 am 
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Location: Over Macho Grande? I don't think I'll ever be over Macho Grande...
Anybody have a snappier title, let me know and I'll change the existing one pronto... :wink:

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 Post subject:
PostPosted: Tue Jul 10, 2007 11:53 am 
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Iseq taken a thumping at the moment, in fairness in crept up ever so slightly recently. ever so slightly.

http://www.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."


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 Post subject:
PostPosted: Wed Jul 11, 2007 10:04 am 
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The ISEQ taking another pasting this morning - down 110 points so far.


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 Post subject:
PostPosted: Wed Jul 11, 2007 10:42 am 
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My prediction for the iseq on "Black Friday" is 8900 , anyone else want to stick a prediction here?


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 Post subject:
PostPosted: Wed Jul 11, 2007 10:52 am 
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PaddyPower appears to be the only stock on the ISEQ still on an upward trend. What does that tell you?


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 Post subject:
PostPosted: Wed Jul 11, 2007 11:09 am 
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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.

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 Post subject:
PostPosted: Wed Jul 11, 2007 12:17 pm 
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Howitzer wrote:
PaddyPower appears to be the only stock on the ISEQ still on an upward trend. What does that tell you?


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.


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 Post subject:
PostPosted: Wed Jul 11, 2007 12:53 pm 
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ISEQ down 200 points, read the CDO thread to find out why..

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Borrowers seeking mortgages have had to resort to saving deposits, forcing many to sit by and watch house prices tumble without being able to do anything about it. (Sunday Indo)


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 Post subject:
PostPosted: Wed Jul 11, 2007 9:32 pm 
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McInerney Holdings down 7.34% today :shock:


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 Post subject:
PostPosted: Thu Jul 12, 2007 12:06 am 
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Location: On the road to nowhere.
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


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 Post subject:
PostPosted: Thu Jul 12, 2007 9:27 am 
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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


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 Post subject:
PostPosted: Thu Jul 12, 2007 9:55 am 
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Grafton are down on good earnings.


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 Post subject:
PostPosted: Thu Jul 12, 2007 1:13 pm 
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ISEQ Watch - Perhaps 8)

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 Post subject:
PostPosted: Wed Jul 18, 2007 9:58 am 
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ISEQ down to 9,085.15

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


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