Today they have fallen 22% to a new low of 223p ..are they another Marconi..?



The chart looks like one long suicide note.

an interesting little calc for you all .....
at tonight's close, LLOY was 290 and HBOS 192.
if the offer stays at 0.83, then the conversion is 241
if the offer is dropped to 0.61, then the conversion is 177

Cynic

They are still in auction. It lookslike the price will be closer to 2.

Yep - out of auction @200.5

rumour that ING are in the running with Santander ........ could open 400p Monday
throw a dart at the horses running tomorrow and back the one it hits - about as much chance of predicting these markets :-)

Well bugger our Nelly - after price monitoring extension, the little beauty has jumped back over 2.00 mark - See what Monday brings ???? Still cant find no reference to shares in Lieu Cynic

yup, you're right about final auction price at 200, though LLOY still finished up 290

i see maestro has jumped in with his usual load of absolute bollocks.
assuming the vote goes through tonight, i would be very surprised if LLOY could justify dropping their price, and given the gov't backing, i think it might also be quite difficult for any white knight to get in the lists for a joust.

nordcaperen

I had a note from my broker telling me about the share issue in lieu of div. I'll post it shortly.

£ 2.40/41 at .833 - be very nice, mind you probably be more by the time its goes through - Cant see these two falling back unless something major happens. Both been at big discount to both Barclays and HSBC over last couple of weeks, and combined will be worth a lot more than Barclays. Still think Hbos was stolen for a song - and things would have panned out different if people acted sooner (Mr Brown !) . The people I feel most for are the B&B holders, thank god I sold on the Friday !! I think its totally unacceptable for the shareholders to get zilch and how nobody as kicked up a stink I'll never get my head round. All eyes on the yanks tonite though.
Kimoldfield - appreciate that, I might be in for a few myself with a little luck !!

Thought maestro once went bust when he was trading on E*Trade a few years back, maybe a different Maestro, woh spouts same old bollocks :-)

Edit

Oops, that didn't work! I've posted the link to HBOS instead.
http://http://www.hbosplc.com/shareholders/CapitalisationIssue.asp

I confirm what my broker has told me; the ratio is as I posted previously, 1 additional share for every 38.2207578 shares held.

Hope you qualify nordcaperen!

Cheers Kim - another bonus !!

Glad to hear it nordcaperen!

The yea's have it over the pond !!! Even bigger bonus !

Pushed the Dow down though! Still in positive territory though and I expect it will continue to move upward shortly.

I think the banks will be hit again next week as Dow remains in more bear territory after the bailout was approved and credit are even tighter. Housing will also drop further as many banks like HBOS are increasing their mortgage rates.

Henry Paulson's ploy may not stop credit crunch spreading


Events of the past week have brought home the reason why Henry Paulsons $700 billion bailout, or whatever meaningless figure you wish to conjure, is essential, if perhaps not enough. Step back seven days, and the argument was that public money was being pledged to banks to bail out bankers whose excesses had made that pledge necessary.

What is apparent now is the extent that the seizing up of the world financial system is the problem of us all, and not just a few overpaid Wall Street plutocrats. That European Schadenfreude that saw it all as the fault of the turbo-charged Anglo-Saxon financial system has taken a battering after the bailouts of Fortis and Dexia of Belgium, Hypo Real Estate of Germany and Icelands Glitnir, the near-collapse of Italys Unicredit, and the government support packages for Irish and Greek banks.

Part of the problem, politically and philosophically, of putting together the Paulson package has been the impossibility of decoupling the interests of the bankers and the banks. It is unfeasible to declare Year Zero and ensure that the banks survive but their overpaid executives go to the killing fields. Bonuses, once paid, cannot legally be clawed back, however pleasing might be the prospect of financiers joining the rest of us in the queues for the soup kitchens.

Someone has to run the institutions after the rescue. Note the re-emergence of John Thain, the former head of Merrill Lynch and the New York Stock Exchange, as putative chief executive of Bank of America, one of the institutions most likely to survive unscathed.

The next question is, will it be enough? Frankly, the odds are not good. There are plenty of signs that the credit crunch has spread out of finance into the real economy. Another 159,000 off US non-farm payrolls in September is just one. If corporations, encouraged to take on too much debt in good times by those same banks, now find their access to credit limited, they will seek to reduce borrowings, delay investment and lay off workers. Those workers, and everyone else worried about their jobs and houses, will stop spending.

But they still have to fill their cars with petrol and put food on the table - so jumo into Oil and food shares, theres always something that'll make you a few bob, banks are the order of the day for a few more weeks though. Then I'll jump back into different markets - Utilities should be good soon with the on-set of winter here in the U.K :-)

Hope you guys got out of banks Friday looks like a big FTSE fall this morning

Yes, today will see a massive fall as Asian markets are already hit badly.

It is a big fall for HBOS - 163p at the mo.

Could be a god buying oppertunity, or could be Black Monday again.