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The Traders Thread - Monday 29th September (TRAD)
Greystone
- 28 Sep 2008 12:05
Greystone
- 28 Sep 2008 12:07
- 3 of 36
Greystone
- 28 Sep 2008 12:07
- 4 of 36
Kyoto
- 28 Sep 2008 15:33
- 5 of 36
Afternoon all. Friday's market reports:
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money
Saturday
The paralysis in money markets is feeding through into the wider economy, with blue-chip nonfinancial companies suddenly finding it impossible to borrow short-term, or only at penal rates.
General economy starts to feel knock-on effects of paralysis in the money markets
London shares could lose a fifth of their value and the money market faces collapse unless US politicians succeed with their financial bail-out plan, it has been warned.
Markets face major crash if US bail-out plan collapses
Senior officials at the Treasury have intervened in this weeks urgent attempts to find a white knight to take over stricken bank Bradford & Bingley. However, banking sources say it is becoming increasingly unlikely that a buyer would step forward and that B&B would have to be nationalised.
Treasury prepares to intervene as banks shun Bradford & Bingley
TPG, the US buyout firm that pulled out of a rescue financing package in July that it had promised to Bradford & Bingley, conceded yesterday that it lost $1.35 billion (734 million) on its investment in Washington Mutual, following the seizure by regulators of the savings and loans institution on Thursday night.
TPG loses $1.35bn over WaMu investment
Wachovia, one of the biggest retail banks in the US, put itself up for sale last night after a tumultuous day for banking shares across the world.
Wachovia mulls sale amid banking turmoil
House prices fell by 4.6% in the year to the end of last month, the Land Registry said yesterday, the first time its index has shown an annual fall since it was launched in April 2000.
House prices fall 4.6% over year
The lender, part of the HBOS group, is also cutting its range of deals by 10 per cent and will no longer offer home loans through brokers to borrowers with small deposits.
Halifax to raise rates across its range of mortgages by up to 0.49% as gloom in market deepen
It may turn out to be one of the most expensive telephone calls never made. In a day that lurched from panic to chaos to pure comedy, JJB said that HBOS had threatened to walk away after David Greenwood, a former finance director, forgot to tell the bank in April that the retailer may have breached one of the covenants on an 18 million loan. Roger Lane-Smith, JJBs chairman, was reduced to joking that at least the group was better than Woolworths. He said: The first we knew that Deloitte had put this in the results statement was at one oclock this morning. We tried to call the person involved but he had gone to bed and left his mobile phone downstairs.
JJB Sports takes severe kicking on news of call that was never made
Sunday
The US stock market could suffer a devastating crash with shares losing a third of their value this week if Hank Paulsons financial bailout plan fails, US Treasury officials have warned. One Republican said that the message from government officials is that the economy is dropping into the john. He added: We could see falls of 3,000 or 4,000 points on the Dow [the New York market that currently trades at around 11,000]. That could happen in just a couple of days.
Bailout failure 'will cause US crash
Troubled bank Bradford & Bingley is to be nationalised, the BBC has learned. BBC News business editor Robert Peston says the Treasury will almost instantaneously sell to a bank or a number of banks. The measure is expected be announced on Sunday night or Monday morning.
Treasury to nationalise B&B bank
BELGIUMs Fortis is this weekend poised to become the first large continental bank to fall victim to the credit crunch, as the global chaos continues with Bradford & Bingley and American savings giant Wachovia both teetering on the brink. The Belgian central bank and the countrys regulator are paving the way for a bailout of the huge banking and insurance group, which has a 540 billion balance sheet and a market value of 12 billion. Any uncertainty around the future of Fortis is likely to weigh heavily on Royal Bank of Scotland. Fortis was one of RBSs partners in the consortium that bought ABN Amro last year. The Dutch banking assets that Fortis bought as part of the deal have yet to be transferred out of the holding company used to execute the deal, which is legally a subsidiary of RBS.
B&B and Fortis both in crisis
The struggling kitchens and bathrooms retailer MFI is this weekend on the brink of administration as the chains management attempts to secure last-ditch funding for a rescue takeover. If MFI does fall into administration, it would be the most high-profile retail victim so far. With quarterly rent payments due to landlords this week, analysts believe the steady trickle of retail collapses is inevitably going to turn into a full-blown flood.
MFI lines up Kroll as administrator
Global hedge funds will this week be forced to hand back hundreds of millions of pounds to investors in the biggest round of redemptions the sector has ever faced.
Hedge funds face record redemptions
A little-known UK arm of collapsed bank Lehman Brothers could cause billions of pounds of mortgages to appear to go into default if it fails too, City sources have warned. Capstone Mortgage Services employs 950 staff in High Wycombe, Buckinghamshire, and others at sites in London carrying out essential administration of home loans. If Capstone were to collapse, it would be impossible to tell whether borrowers' monthly payments had been made.
Home loans alert over Lehman arm
HEDGE FUNDS and institutions could be forced this week to write down billions of dollars related to trading positions that were frozen when Lehman Brothers was put into administration two weeks ago. More than 90,000 trades worth $13.9 billion (7.6 billion) were left unsettled when Lehman collapsed and it will take many months or years to sift through the wreckage, said Tony Lomas, the lead administrator at Price Waterhouse Coopers (PWC).
Bid to unravel Lehman trades
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money
Saturday
The paralysis in money markets is feeding through into the wider economy, with blue-chip nonfinancial companies suddenly finding it impossible to borrow short-term, or only at penal rates.
General economy starts to feel knock-on effects of paralysis in the money markets
London shares could lose a fifth of their value and the money market faces collapse unless US politicians succeed with their financial bail-out plan, it has been warned.
Markets face major crash if US bail-out plan collapses
Senior officials at the Treasury have intervened in this weeks urgent attempts to find a white knight to take over stricken bank Bradford & Bingley. However, banking sources say it is becoming increasingly unlikely that a buyer would step forward and that B&B would have to be nationalised.
Treasury prepares to intervene as banks shun Bradford & Bingley
TPG, the US buyout firm that pulled out of a rescue financing package in July that it had promised to Bradford & Bingley, conceded yesterday that it lost $1.35 billion (734 million) on its investment in Washington Mutual, following the seizure by regulators of the savings and loans institution on Thursday night.
TPG loses $1.35bn over WaMu investment
Wachovia, one of the biggest retail banks in the US, put itself up for sale last night after a tumultuous day for banking shares across the world.
Wachovia mulls sale amid banking turmoil
House prices fell by 4.6% in the year to the end of last month, the Land Registry said yesterday, the first time its index has shown an annual fall since it was launched in April 2000.
House prices fall 4.6% over year
The lender, part of the HBOS group, is also cutting its range of deals by 10 per cent and will no longer offer home loans through brokers to borrowers with small deposits.
Halifax to raise rates across its range of mortgages by up to 0.49% as gloom in market deepen
It may turn out to be one of the most expensive telephone calls never made. In a day that lurched from panic to chaos to pure comedy, JJB said that HBOS had threatened to walk away after David Greenwood, a former finance director, forgot to tell the bank in April that the retailer may have breached one of the covenants on an 18 million loan. Roger Lane-Smith, JJBs chairman, was reduced to joking that at least the group was better than Woolworths. He said: The first we knew that Deloitte had put this in the results statement was at one oclock this morning. We tried to call the person involved but he had gone to bed and left his mobile phone downstairs.
JJB Sports takes severe kicking on news of call that was never made
Sunday
The US stock market could suffer a devastating crash with shares losing a third of their value this week if Hank Paulsons financial bailout plan fails, US Treasury officials have warned. One Republican said that the message from government officials is that the economy is dropping into the john. He added: We could see falls of 3,000 or 4,000 points on the Dow [the New York market that currently trades at around 11,000]. That could happen in just a couple of days.
Bailout failure 'will cause US crash
Troubled bank Bradford & Bingley is to be nationalised, the BBC has learned. BBC News business editor Robert Peston says the Treasury will almost instantaneously sell to a bank or a number of banks. The measure is expected be announced on Sunday night or Monday morning.
Treasury to nationalise B&B bank
BELGIUMs Fortis is this weekend poised to become the first large continental bank to fall victim to the credit crunch, as the global chaos continues with Bradford & Bingley and American savings giant Wachovia both teetering on the brink. The Belgian central bank and the countrys regulator are paving the way for a bailout of the huge banking and insurance group, which has a 540 billion balance sheet and a market value of 12 billion. Any uncertainty around the future of Fortis is likely to weigh heavily on Royal Bank of Scotland. Fortis was one of RBSs partners in the consortium that bought ABN Amro last year. The Dutch banking assets that Fortis bought as part of the deal have yet to be transferred out of the holding company used to execute the deal, which is legally a subsidiary of RBS.
B&B and Fortis both in crisis
The struggling kitchens and bathrooms retailer MFI is this weekend on the brink of administration as the chains management attempts to secure last-ditch funding for a rescue takeover. If MFI does fall into administration, it would be the most high-profile retail victim so far. With quarterly rent payments due to landlords this week, analysts believe the steady trickle of retail collapses is inevitably going to turn into a full-blown flood.
MFI lines up Kroll as administrator
Global hedge funds will this week be forced to hand back hundreds of millions of pounds to investors in the biggest round of redemptions the sector has ever faced.
Hedge funds face record redemptions
A little-known UK arm of collapsed bank Lehman Brothers could cause billions of pounds of mortgages to appear to go into default if it fails too, City sources have warned. Capstone Mortgage Services employs 950 staff in High Wycombe, Buckinghamshire, and others at sites in London carrying out essential administration of home loans. If Capstone were to collapse, it would be impossible to tell whether borrowers' monthly payments had been made.
Home loans alert over Lehman arm
HEDGE FUNDS and institutions could be forced this week to write down billions of dollars related to trading positions that were frozen when Lehman Brothers was put into administration two weeks ago. More than 90,000 trades worth $13.9 billion (7.6 billion) were left unsettled when Lehman collapsed and it will take many months or years to sift through the wreckage, said Tony Lomas, the lead administrator at Price Waterhouse Coopers (PWC).
Bid to unravel Lehman trades
Greystone
- 29 Sep 2008 06:26
- 6 of 36
Good morning traders!
In Asia today, the Nikkei was recently down 43.19 points to 11,849.97, while the
Hang Seng ended the morning down 395.19 points at 18,286.9.
US light crude for November delivery fell $1.09 to $105.85 a barrel .
Happy trading!
G.
In Asia today, the Nikkei was recently down 43.19 points to 11,849.97, while the
Hang Seng ended the morning down 395.19 points at 18,286.9.
US light crude for November delivery fell $1.09 to $105.85 a barrel .
Happy trading!
G.
Kyoto
- 29 Sep 2008 06:45
- 7 of 36
Kyoto
- 29 Sep 2008 06:51
- 8 of 36
Morning all - today's media stories:
The federal government would put up as much as $700 billion in a far-reaching plan to rescue the nation's troubled financial system, according to a bill unveiled by lawmakers on Sunday.
Rescue bill unveiled
Stricken Belgian bank Fortis was facing a state takeover or a sale to a rival lender last night after authorities in Belgium and Holland stepped in to save it from collapse.
State steps in to stop collapse of stricken Fortis
Three of the UKs biggest high-street banks are preparing to tap the US government bail-out fund for around $50bn (27bn) of financial support.
UK high street banks may benefit from US bail-out
Santander, the Spanish banking giant and owner of Abbey National and Alliance & Leicester, has bought Bradford & Bingley's branch network and 21bn deposit book, leaving the Treasury to nationalise the failed mortgage lender's 50bn loan book.
Santander buys Bradford & Bingley's branches
Major City investors warned last night against a fire sale of Bradford & Bingley arguing that shareholders should not necessarily be wiped out by the Governments planned nationalisation.
City warns against 'fire sale of B&B
The future of America's fourth-largest bank, Wachovia, is in the balance as attempts to find a buyer for the group faltered over the weekend. Analysts have started to bet that, rather than doing a deal with the bank now, potential suitors could wait until the bank was seized by the authorities and then pick off the best assets at a knock-down price.
Wachovia's fate in balance as takeover deal falters
A takeover of Wachovia, the troubled regional lender, hinges on congressional approval of a proposed $700bn bail-out plan and the governments willingness to extend financial aid to potential bidders, reports the FT.
Wells Fargo moves in on Wachovia
Regulators are planning changes to the current financial rules to make banks shore up their finances in boom periods and give them breathing space in times of stress.
FSA plans to change cyclical capital rules
The management of MFI saved the troubled kitchens retailer from administration last night when it secured financing for its acquisition.
Jobs and customer orders are saved as MFI gets lifeline
Married father-of-one Kirk Stephenson, 47, chief operating officer at private equity firm Olivant, died on Thursday morning after throwing himself in front of a commuter train near Taplow station in Buckinghamshire, police said.
Private equity boss kills himself
The federal government would put up as much as $700 billion in a far-reaching plan to rescue the nation's troubled financial system, according to a bill unveiled by lawmakers on Sunday.
Rescue bill unveiled
Stricken Belgian bank Fortis was facing a state takeover or a sale to a rival lender last night after authorities in Belgium and Holland stepped in to save it from collapse.
State steps in to stop collapse of stricken Fortis
Three of the UKs biggest high-street banks are preparing to tap the US government bail-out fund for around $50bn (27bn) of financial support.
UK high street banks may benefit from US bail-out
Santander, the Spanish banking giant and owner of Abbey National and Alliance & Leicester, has bought Bradford & Bingley's branch network and 21bn deposit book, leaving the Treasury to nationalise the failed mortgage lender's 50bn loan book.
Santander buys Bradford & Bingley's branches
Major City investors warned last night against a fire sale of Bradford & Bingley arguing that shareholders should not necessarily be wiped out by the Governments planned nationalisation.
City warns against 'fire sale of B&B
The future of America's fourth-largest bank, Wachovia, is in the balance as attempts to find a buyer for the group faltered over the weekend. Analysts have started to bet that, rather than doing a deal with the bank now, potential suitors could wait until the bank was seized by the authorities and then pick off the best assets at a knock-down price.
Wachovia's fate in balance as takeover deal falters
A takeover of Wachovia, the troubled regional lender, hinges on congressional approval of a proposed $700bn bail-out plan and the governments willingness to extend financial aid to potential bidders, reports the FT.
Wells Fargo moves in on Wachovia
Regulators are planning changes to the current financial rules to make banks shore up their finances in boom periods and give them breathing space in times of stress.
FSA plans to change cyclical capital rules
The management of MFI saved the troubled kitchens retailer from administration last night when it secured financing for its acquisition.
Jobs and customer orders are saved as MFI gets lifeline
Married father-of-one Kirk Stephenson, 47, chief operating officer at private equity firm Olivant, died on Thursday morning after throwing himself in front of a commuter train near Taplow station in Buckinghamshire, police said.
Private equity boss kills himself
Kyoto
- 29 Sep 2008 08:47
- 9 of 36
| NIKKEI 225 | AUSTRALIA ASX200 | SHANGHAI | HANG SENG |
| VIX |
Kyoto
- 29 Sep 2008 08:48
- 10 of 36
Kyoto
- 29 Sep 2008 09:03
- 11 of 36
Kyoto
- 29 Sep 2008 09:09
- 12 of 36
Kyoto
- 29 Sep 2008 09:24
- 13 of 36
Kyoto
- 29 Sep 2008 09:29
- 14 of 36
Kyoto
- 29 Sep 2008 09:34
- 15 of 36
Kyoto
- 29 Sep 2008 09:40
- 16 of 36
Kyoto
- 29 Sep 2008 09:50
- 17 of 36
Kyoto
- 29 Sep 2008 10:30
- 18 of 36
Kyoto
- 29 Sep 2008 10:35
- 19 of 36
Kyoto
- 29 Sep 2008 10:40
- 20 of 36
Kyoto
- 29 Sep 2008 10:55
- 21 of 36
Kyoto
- 29 Sep 2008 11:25
- 22 of 36
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