Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Pound temporarily back up due to B of E intervention and closing of huge profit positions. It will be on down soon. But the cost. Expected interest rates are up hugely tho despite this pound will be on down again as we are now such a weird UKIP basket case. Mortgage I got at 0.92% earlier this year was 3.56-% last week, now 5.24%. My interest payments of £399 a month if taken out now would be £2390!!! Come back Conservative Party please, but sadly most of the sensible ones gone
Yet again, Bank of England wrong
https://www.poundsterlinglive.com/gbp-live-today/17601-month-end-pound-to-euro-and-dollar/amp
Paper headlines- pound tanking, pound tanking etc etc--- no back to 1.12 when it was 1.13 the Thurs before the mini-budget- so if the pound was "tanking"- why aren't the headlines now "rocketing" which is the opposite of tanking... look at all the currencies, and it's interesting stuff.
On CEY, good to see continued rise- although as Tony said - "where's our news?"...
European stock exchanges were lower in the premarket on Friday as investors awaited September inflation and August jobs data from the Eurozone. In addition, new figures on United Kingdom GDP, housing prices and mortgages, as well as German retail sales and unemployment will be released throughout the day.
The DAX decreased by 0.28%, London's FTSE 100 fell by 0.45% and the CAC 40 declined by 0.22% at 7:06 am CET.
The euro was 0.06% lower against the dollar at 7:14 am CET, trading at 0.98085. The British pound was flat compared to the American currency, going for 1.11180 at the same time.
Baha Breaking News (BBN) / MS
Happy Friday y’al.
Enjoy your weekend.
Last trading day of Q3
Bol
Pardon .
Arrested at Ibiza Airport.
Mallorca Daily Bulletin. (HA HA /
Briton wanted in USA for fraud in Ibiza.
Somewhat ironic ,now the Banks lost 2 0 milllion dollars .
Peanuts compared to their frauds.
Top Banks "/ Crooks" say Forex rigging case filed too late.
Means they know they will be found guilty ,to me.
Good point Tony!
ROBERT M. FRIEDLAND of Ivanhoe Mines, Ivanhoe Electric (Africa: Kamoa-Kakula copper-project; Platreef in South Africa), filled a large Colorado Springs main hall for his 45-minute luncheon ‘show.’
“Mining is not a business for intelligent people,” the CEO said.
Quotables here:
“The Fed can’t do anything about the Balkanized supply chain,” Robert Friedland said just now.
“If you really want to find copper you have to go to the Western Forelands (DRC Congo — Makoko project).”
“The computers think we are (just) a copper company.” Pointing to zinc at DRC’s Kipushi and to Platreef’s gold-nickel-platinum-etc. metals project in Republic of South Africa.
“Without grid-scale batteries there will be no green revolution.” (See Ivanhoe Electric below.)
“Very few people can even define what energy is.”
“Renewal energy is absurdly metals intensive.”
“We need to mine in the next 23 years all of the copper we have mined in human history.”
“That’s why (they) should add ‘copper’ to the name (of this conference) next year.’
The amount of misinformation in the media, has never been higher ...
the gnome
Bristow in response to a question said he hopes to increase Barrick’s exposure to Australia and to Canada.
CEO Bristow singled out a World Gold Council effort to create handheld buttons that allow individuals to purchase certified, physical gold with the help of the Internet. WGC calls it the 24-7 Gold initiative. “We like the other gold miners are working closely with WGC on this initiative,” he said.
One day to meet all the updates they promised in July. I have written to investor relations and I wonder what do they get paid to do?
I don't have any bonds in my pension which is probably why it's grown massively in the last 10years... Ipaid off my mortgage last year, but am concerned here for my kids, who are young and both have mortgages now, albeit can sustain quite large increases luckily here- but yes, a worry for many on top of everything else- I do think that growth is the only way out of this though- the UK Govt mini budget was clearly exploited.
Major stock indexes in Europe traded higher in Thursday's premarket session, as the positive sentiment was seemingly prompted by the Bank of England's latest decision to temporarily buy long-dated United Kingdom government bonds (gilts), so as to bring back "orderly market conditions."
On the data front, traders will be looking out for the report on Eurozone's consumer confidence, alongside Germany's inflation.
The DAX gained 0.82% at 6:52 am CET. At the same time, London's FTSE 100 rose 0.39%, while the CAC 40 was up 0.67%.
The euro lost 0.50% against the dollar at 7:02 am CET, selling for 0.96866. The pound was down 0.79% against the greenback to go for 1.08057 a minute later.
Baha Breaking News (BBN) / AY
Steve the majority of large pension funds are now majority in bonds, of course private pensions may well be all shares, but that is not what the bank is worried about but these huge funds highly exposed to the very derivatives that were designed by the bankers to protect them. The media is quite right both on this and the scary rise in mortgage rates - I got mine at 0.94% from hsbc less than a year ago. The same is now around 3.7% and likely to go over 4% this week. That will weigh heavy on borrowers who are already suffering from inflation, particularly in energy, and likely lead to sharply lower property prices. Don’t castigate the messenger.
Ah I see the panic having read this article- my pension is 100% global equity based- seems the vast majority are not:
"Of the approximately £1.5tn in assets held by UK pension funds, a weighted average of 72 per cent of these were invested in bonds in 2021, according to the Pension Protection Fund’s Purple Book.
Of this allocation, 24.6 per cent were invested in government fixed interest bonds, with 28.2 per cent allocated towards corporate fixed interest bonds, and the remaining 47.2 per cent in index-linked bonds. "
Full article: https://www.pensions-expert.com/DB-Derisking/Bank-of-England-buys-gilts-to-protect-pension-funds?ct=true
I've now just heard a pensions "expert" saying pensions getting it, worse than covid - utter lies, most pensions got whacked 20-30% in a couple of weeks and recovered that calendar year- most pensions based on markets and are slightly down in line and nothing like covid- what are these people on? Panic panic panic lies lies lies
The medi a and I mean the papers, bbc and all other free media we use as we have to oh they tv licence fee- are a sham. Again today it's the pound has crashed, no mortgages available etc etc absolute tosh.
About 10% of mortgages were put pulled and the pound is higher today than it was yesterday- the markets are crashing when the U.K. markets are now higher than yesterday- the media are absolutely ridiculous...
The prices of precious metals recovered from previous losses on Wednesday, as gold rose almost 2%, with the dollar easing against major currencies, such as the euro and the British pound, alongside the US Treasury bond yields, which entered the red territory.
Gold surged 1.83% to sell for $1,658.88 per ounce at 12:09 pm ET. Silver jumped 2.08%, going for $18.68 per ounce a minute later. Platinum rose 1.35%, selling for $863.18 per ounce at 12:11 pm ET, while Palladium soared 2.55% to go for $2,125.56 per ounce a moment later.
Baha Breaking News (BBN) / AY
US dont push it back.
Maybe wishful thinking we will soon see.
Result Gold up.
CEY possibly finishing up slightly today. As long as the US push it back down again.
Needs a little more panicking there, they have sufficient to get them worried a little more bad news maybe break the camels back.
scary times indeed. I can feel everyone in the UK is in a panic. I just read this artcle by Jim Currie https://www.gold-eagle.com/article/gold-heading-mid-term-bottom very interesting read. It's crazy how PM are supper high in the GBP lol only if it was the USD.
Jim has predicted a major low forming in October on his Elliott Wave formula all year. He claims his measurement has an 85% confidence level. He has the bottom during October with a plus 20% rally in gold afterwards.
Chan has a market formula of moving averages to give his BP Gold indicator. It is currently well below 10%. He points out that falls below 10% are relatively rare. On the last 3 occasions this happened a major change occurred within one month on gold and GDX. GDX went up 40% -150% and gold went up between $200-$500.
What we do not have is the history of his indicator before 2015 unless somebody has joined his subscription club on whether the formulae always work or that data exists.
Its the end of Chans paper you need to look at.
Tony