The ISEQ Thread Part II - Trading below 2000

What's happing withe the ISEQ. Half of the stocks seem to be not trading. I know Anglo is suspended, but what's the story with all the others ?

http://www.rte.ie/business/markets/iseq.html

AIB down 39c (approx 20%)

BoI down 9c (approx 10%)

Why is AIB down so much more?

Because they are the largest and second largest banks in the State. Their nearest competitor, the third largest, Anglo Irish Bank was nationalised this morning because it face imminent collapse. This is hardly a vote of confidence in the Irish banking sector so I would expect all Irish banking shares to take a hit.

Zhou_Enlai wrote:

AIB down 39c (approx 20%)

BoI down 9c (approx 10%)

Why is AIB down so much more?

Always felt it in my bones that AIB were dodgy. We could be looking at another Nationalisation or two soon enough.

Perhaps the similarity in names isn't helping!

"Sell those go_damn AIB shares NOW you m_therf_cker"

Where do you see the ISEQ trading 1 year from now?

....Moore St.?

...Liberty Hall, aka "An Chremlinn"

SeathrúnCeitinn wrote:

Where do you see the ISEQ trading 1 year from now?

....Moore St.?

If we're lucky. And why not. Any other way is going from the frying pan into the toilet.


On the day that's in it with Fianna Fáil now possessing a bank and everyone finally admitting that they never knew the difference between Anglo and Allied Irish Banks, Breaking News has a timely update ...

Quote :

16/01/2009 - 19:02:57
The ISEQ index of Irish shares closed down 23.50 points to 2,456.22 today, with banking shares prominent among the fallers amid continued uncertainty in the sector.

AIB shed some 25.26% of its value, closing down 49c to 1.45, while Bank of Ireland was 15c off, closing at 0.75.

Trading in Anglo Irish Bank shares was suspended today after the Government dramatically announced it was nationalising the ailing lender.

Irish Life & Permanent meanwhile slipped 5c to 2.20.

Other notable fallers included Kerry Group, down 30c to 14.25; Paddy Power, down 20c to 11.15, and Aer Lingus, slipping 8c to 1.52.

Drinks maker C&C meanwhile lost 10c to 1.21 on the back of a downbeat interim statement issued this morning.

On the risers board were CRH, up 66c to 18.22; Glanbia, up 10c to 2.65, and Ryanair, up 4c to 3.24.
http://www.breakingnews.ie/business/mhsneyididey/

The Irish Banks are losing a bit of value this morning

2320

AIB down 55%
BOI --> 42%
IL&P --> 36%

sharewatch server very slow

Hooooooooolyyyyyyyyy Fuuuuuuk

It's slaughter.

Time to buy more....

EvotingMachine0197 wrote:

Hooooooooolyyyyyyyyy Fuuuuuuk

It's slaughter.

Time to buy more....

Do. Apply for some in Anglo too while you're at it - I heard they're near zero at the moment.

Going towards
2350

Anglo are suspended since last week. They were at 0.22. They would be zero today if they were still trading.

I might send some more dosh to Goodbodys and then think about it.

EvotingMachine0197 wrote:

Anglo are suspended since last week. They were at 0.22. They would be zero today if they were still trading.

I might send some more dosh to Goodbodys and then think about it.

Do sure.

Do you think BOI will get suspended also Audi ?

EvotingMachine0197 wrote:

Do you think BOI will get suspended also Audi ?

I'd worry about it if I had more shares than you have but you're just taking a calculated risk which could very well pay off.

I wouldn't be surprised if it gets nationalised though, if not AIB. No one know what's inside the engine, under the bonnet of these things. Better off them keeping the one with the cracking head gasket or worn piston rings.

I have chickened out every time I thought it might be possible to get in at the "bottom".

I am not qualified in any way in matters financial. Speaking as a Joe Soap I suspect the following:
1. Ireland cannot afford to nationalise BoI and AIB.
2. The Anglo Skip will become a reality soon as debt insurance backed by the Government (as mooted in the UK and the USA) will have no credibility in Ireland.
3. If any bank is going to be kept afloat it will be Allied Irish Banks as it is the healthiest and has the most progressive corporate culture.

Auditor #9 wrote:

EvotingMachine0197 wrote:

Hooooooooolyyyyyyyyy Fuuuuuuk

It's slaughter.

Time to buy more....

Do. Apply for some in Anglo too while you're at it - I heard they're near zero at the moment.

Going towards
2350

God in Heaven! It's some carnage out there for them, isn't it? The shares are verging on the worthless. It's a sign of the times how limited the bank shares disaster is on the overall ISEQ-it's down, but not massively.

ALLIED IRISH BKS 0.60 -0.85 (-58.62%)
BANK OF IRELAND 0.34 -0.41 (-54.67%)

There is a rush on pinstripe pampers on Baggot Street!

On a bright note - what a performance by CRH to keep up and out of all this.

Also ILP down 50%. Great Scott !

Gulp! Mind you, if they nationalise them, do they have to recapitalise them?? And if they were to impose a gazillion % pay cut with no bonuses onto any bank staff on more than 50 grand, would that not go some way to plugging le black 'ole???

expat girl wrote:

Gulp! Mind you, if they nationalise them, do they have to recapitalise them?? And if they were to impose a gazillion % pay cut with no bonuses onto any bank staff on more than 50 grand, would that not go some way to plugging le black 'ole???

Basically I suppose we would be nationalising their bad debts
A couple of hundred billion between the top three?

2293

Banks up,
AIB up 16%,
BOI up 32%,
IL&P up 9%

AIB = 70 cents
BOI = 43c
IL&P = 122c

cactus flower wrote:

Basically I suppose we would be nationalising their bad debts
A couple of hundred billion between the top three?

I doubt that much. Maybe 80 billion, max. Let us not forget that the assets borrowed against are, in this country, physical assets such as unsold houses and land banks. The Government may not have to build social housing again for decades.....and come the recovery, these assets can be sold privately for a profit, as, also, can the banks.

Is 80 billion not a lot expat - maybe not.

God we'd have some lovely social housing alright..

2275

Aib 60c
BOI 40c
IL&P 115c
Kingspan down to €2.64 ...