Bank of Ireland shares

Mad_maxx

Harpon wrote: »

The Irish market is a real sweet spot for the two biggest banks, it’s large enough that they can make around a billion in profit during normal years, but no so large as to attract any competition. The fact they don’t have to pay tax on profits probably puts off a lot of potential competitors too.

if banking was - is a good deal here , how come the share prices of the banks were in the toilet long before covid 19 ?

Synode

Harpon wrote: »

The Irish market is a real sweet spot for the two biggest banks, it’s large enough that they can make around a billion in profit during normal years, but no so large as to attract any competition. The fact they don’t have to pay tax on profits probably puts off a lot of potential competitors too.

Why wouldn't they have to pay taxes on profits?

codrulz

Synode wrote: »

Why wouldn't they have to pay taxes on profits?

https://www.irishtimes.com/news/politics/election-2020-fact-check-do-banks-in-ireland-pay-no-tax-1.4154466

sk8board

Technical question - I accidentally clicked on the LSE quoted price for BOI earlier, and a few hours later noticed it still hadn’t updated from fridays closing price.
How come the two don’t track each other within a few minutes? Is it the volume difference Between LSE and ISE, or does the London price only get updated at end-of-day?

AlmightyCushion

codrulz wrote: »

https://www.irishtimes.com/news/politics/election-2020-fact-check-do-banks-in-ireland-pay-no-tax-1.4154466

They do have to pay tax on profits. However, they are allowed carry forward losses from previous years as every other company can and individuals can for CGT.

Donald Trump

sk8board wrote: »

Technical question - I accidentally clicked on the LSE quoted price for BOI earlier, and a few hours later noticed it still hadn’t updated from fridays closing price.
How come the two don’t track each other within a few minutes? Is it the volume difference Between LSE and ISE, or does the London price only get updated at end-of-day?

You are looking at a public source? Like a website?


If you want real-time tick-by-tick data you can expect to pay (a lot) for it. Even delayed prices or end of days prices would cost.

sk8board

Donald Trump wrote: »

You are looking at a public source? Like a website?


If you want real-time tick-by-tick data you can expect to pay (a lot) for it. Even delayed prices or end of days prices would cost.

I was on Degiro. Searched BIRG and both listings returned, but the london price isn't updated from last fridays close, even though the intra-day graph for London is tracking the price throughout the day live.

edit: their last price update is 16:30 on Friday 15th. Looks like their live price provider is slow off the mark today (VWD Group).

Jim2007

Harpon wrote: »

The whole rates are high because we can’t evict is just what the banks want you to believe, fact is they have made billions year after year after year without evictions

Well if is a fact, then you’ll have no problem in explaining it and providing us with the relevant references.

codrulz

AlmightyCushion wrote: »

They do have to pay tax on profits. However, they are allowed carry forward losses from previous years as every other company can and individuals can for CGT.

I know... I just linked to what I thought the above poster was making reference to. The article makes it clear that the banks are just carrying forward losses.

Harpon

codrulz wrote: »

I know... I just linked to what I thought the above poster was making reference to. The article makes it clear that the banks are just carrying forward losses.

Yes that’s what I meant by paying no tax. Aib estimated it would be 2037 before they will have to start paying tax on their profits again, great asset to have.

Harpon

Jim2007 wrote: »

Well if is a fact, then you’ll have no problem in explaining it and providing us with the relevant references.

What am I your gofer? Look it up yourself, we are on the internet it takes all of 10 seconds.

Jim2007

Harpon wrote: »

What am I your gofer? Look it up yourself, we are on the internet it takes all of 10 seconds.

I have, which is presides why I'm asking where you are getting the hot air from.

None of the bankings shares have recovered since the last recession, because the basic economics of banking has changed.

Back in 2005/6, UBS traded at in or around 75/85 CHF and Credit Suisse at around 40/50 CHF. At the time these were among the score or so banks in Europe with double digit T1 and strong profit margins. They were typically to be found in most Europe pension funds and still are. They both recovered their T1s and rebuild their AUM etc... but they never got the profit margins back and consequently the share prices have been hovering around 9 - 15 range for UBS and 7 - 11 for CS over the past 10 or 12 years.

Banks are not going to start making serious money again until there is a consolidation and they are in a position to stop giving away their services for free.

ChuckieEgg

While Governments are afraid to let Banks dish out pain to defaulters then Banks are going to be in the doldrums. Never before in history has this experiment been conducted. We are 10 years into this, idk how long before the whole system grinds to a halt.
It's not functioning correctly due to the Governments and society cannot function without properly run banks, bricks and mortar or online banks it makes no difference.
Eventually they will have to stop interfering and let them run as they should. Bad banks go broke, Good Banks make profits, and Bad creditors suffer the consequences

Mav11

Blackrock doubled their holding today from 4% to 8%. Wonder whats going on?

Mad_maxx

Mav11 wrote: »

Blackrock doubled their holding today from 4% to 8%. Wonder whats going on?

where can that information be seen ?

Mav11

Mad_maxx wrote: »

where can that information be seen ?

RNS: Increased from 4% beginning of April to 8% today.

https://www.lse.co.uk/SharePrice.asp?shareprice=BIRG&share=Bank-Of-Ireland

I see that the shorters are also out in force!!

codrulz

Will be interesting to see how this EU 750Bio fund develops. I'm still optimistic short-term

CoronaBlocker

I love BofI... I piled in at the mid 1.40s and got out again at 1.77 earlier today. They're always great for a quick shot in the arm - they keep my humidor well stocked, so they do :-)

Dinarius

Up on serious volume today. 1.2m

Consistent accumulation around €1.35-1.45.

Seems to be building support here.

D.

Mav11

Dinarius wrote: »

Up on serious volume today. 1.2m

Consistent accumulation around €1.35-1.45.

Seems to be building support here.

D.

I know that Degiro are quoting volume of 1.25m but Davy's and Yahoo are quoting volume levels of 13m on the ISE and 1.9m on the LSE. Why the difference in reported volumes?

NickSantigo

I am not 100% on the answer but maybe Degiro are quoting volume from their platform only

otterj

https://m.independent.ie/business/irish/millennium-hedge-fund-ups-bet-againstbank-of-ireland-39239410.html

Dinarius

otterj wrote: »

https://m.independent.ie/business/irish/millennium-hedge-fund-ups-bet-againstbank-of-ireland-39239410.html

Interesting.

Makes it difficult to say if heavy volumes recently are short-covering or buying.

D.

Mav11

Dinarius wrote: »

Interesting.

Makes it difficult to say if heavy volumes recently are short-covering or buying.

D.

Seems to be 3 players actively shorting during May:

Millenium 1.81%
World Quant 0.48%
Exodus 0.46%

Dinarius

Mav11 wrote: »

Seems to be 3 players actively shorting during May:

Millenium 1.81%
World Quant 0.48%
Exodus 0.46%

And Blackrock buying?


So, a bulls v bears battle?


So, who's winning?


D.

Mad_maxx

Dinarius wrote: »

And Blackrock buying?


So, a bulls v bears battle?


So, who's winning?


D.

i thought blackrock were buying and selling regularly ?

Mav11

Dinarius wrote: »

And Blackrock buying?


So, a bulls v bears battle?


So, who's winning?


D.

Speculation was Blackrock were averaging down from earlier buys, whereas the others are betting on a fall. Contradictory positions really??

Jim2007

Mav11 wrote: »

Seems to be 3 players actively shorting during May:

Millenium 1.81%
World Quant 0.48%
Exodus 0.46%

Three asset managers... means you have not got a clue how many players are actually active nor even their intentions.

- It could be a single player using multiple managers
- Multiple players uses these managers
- A mechanical action based on some financial product they sell
- An acquisition with the intention of creating a product
- A pure hedge against something else
- None of the above

The positions are not significant, just pure speculation in any case.

Mav11

Jim2007 wrote: »

Three asset managers... means you have not got a clue how many players are actually active nor even their intentions.

- It could be a single player using multiple managers
- Multiple players uses these managers
- A mechanical action based on some financial product they sell
- An acquisition with the intention of creating a product
- A pure hedge against something else
- None of the above

The positions are not significant, just pure speculation in any case.

The positions are not insignificant either. However, what is of significance is the trend over the month.

Jim2007

Mav11 wrote: »

The positions are not insignificant either. However, what is of significance is the trend over the month.

A couple of percent means nothing .