"Goshawk said the net charge to the group's profit and loss account resulting from the closure will be in the region of 35 mln in the current year.

Panmure was delighted that Goshawk has finally drawn a line under its Lloyds of London business, with the broker announcing that it would upgrade the stock to 'buy' from 'neutral' as soon as it met with new chief executive, Russell Brooke.

'Investors should be pleased to see that the comment 'Goshawk's liability is limited to its Fund At Lloyd's' in the announcement of the closure of Syndicate
102,' said the broker in a note to clients.
The broker reckons that Goshawk will likely report a loss of 50 mln stg for the full year. However, if it can continue to deliver a 20 pct return on capital at
its re-insurance unit in 2004 and 2005, the shares will begin to look inexpensive, argued Panmure."

Well a bid rumour in the Express.and lots of other positive news is certainly helping.A rumour on ADVFN was that there would be coverage of GOS by William de Broe !!

For full tchnical analysis there is an excellent thread at

www.sardinesplaice.com

Well worth a read if contemplating investing in GOS

Very nice RNS today and as Phoenix are a VC I wonder what will happen next !!

From MoneyAM

Goshawk Insurance has climbed 15.7% to 31.25p over three days. On 26 September it revealed a first half operating loss of 30.6m, compared with a 4.3m last time. Its financial troubles in the six months ended in June stem from the disastrous performance of its wholly-owned Lloyd's of London Syndicate 102, which in turn has been hit by the collapse of the Accident Group, the no-win-no-fee compensation firm.

Goshawk's management though is adamant that it has taken all of the hard decisions up front and chief executive Chris Fagan reckons the firm, which also boasts a successful Burmuda-based reinsurance operation, will trade profitably in the second half.

Broker buy rec

Subscription site: Shrewd Snapshot: Sell Safeway, buy Goshawk Citywire 07:55

Superb day today hope some of you lot jumped in.Let's look forward to WestLBs 60p ;-)

And here too.

Gausie what is your stance on GOS ?

Strong buying today.

Well by the looks at the trades it seems as though either Phoenix are increasing there holding or another institution is buying in.

Didn't Phoenix lose about 20% last year even though they can short ?

This is the biggest pile of s**t ever.

Sold mine

Good riddence to you Mrsigns !

Dil is everyone perfect ? I have made some and lost some but thats life.

Another good day and more strong buying !

De ja vue - SPT

Look at the buying !

Hi Ash!

Andy

LOL


Down today isn't it.

Haystack,

Just a tad, so far!

Andy
It's funny really to think that he may not have realised that we all knew he was Ashley James. The posting style is quite distinctive! He is easliy spotted in all his guises here and on ADVFN! It is a bit like when a small child hides behind a blanket and thinks that no one can see him (that's not meant as an insult by the way). It does indicate a certain charming naivety. Just don't creep up on him and shout BOO!.

Ash

Watch and learn, amateur.

Gausie

Gausie and the rest of you little boys.I am not Ash and have never portrayed to be.I have copied some of his posts from SP but that is about all !

Now grow up ;-)

That was a shorting drop today.If you followed the action you would have seen that the trades were all targeted at one MM hence the wide spread.The interesting thing is that they left the shorts open over night as the offer price never dropped to allow them to make a profit.Now if you were a long the best thing to do is buy in the morning and try to force the shorters to close.This would then add impetous to the rise.

You can also see from a chart perspective that GOS formed a double bottom at 32.5p today which on it's own is a very bullish signal.