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Traders Thread - Friday 17th August (TRAD)
Greystone
- 16 Aug 2007 21:36
Kyoto
- 17 Aug 2007 15:37
- 44 of 50
Kyoto
- 17 Aug 2007 16:02
- 45 of 50
Greystone
- 17 Aug 2007 17:09
- 46 of 50
Kyoto
- 17 Aug 2007 17:22
- 47 of 50
Kyoto
- 17 Aug 2007 17:37
- 48 of 50
Kyoto
- 18 Aug 2007 06:57
- 49 of 50
| Director Dealings - Thursday 16 August 2007 |
Kyoto
- 18 Aug 2007 07:00
- 50 of 50
Friday's market reports:
Telegraph
The Times
FT
The Guardian
The Independent
This is Money
The big worry, is that the credit crunch will hit consumers, in particular homeowners. Borrowers with bad credit ratings are likely to be hit as those banks that have been lending to people with the worst credit ratings have become much more cautious; several UK lenders are already preparing to raise their interest rates by up to 2.5 percentage points this week. An estimated 750,000 homeowners in the UK who have a sub-prime mortgage could get hit. "Anybody with singular adverse credit will lose out. The price of sub-prime mortgages will go up," says Ray Boulger of mortgage brokers John Charcol.
The big freeze: crash puts the bull market frenzy on ice
Andrew Hagger at Moneyfacts, the financial research website, said: "Unless the markets stabilise over the next three to four weeks, other banks may also start raising mortgage rates." Philip Thornton, at Clarity Economics, added: "Lenders in every part of the financial universe are starting to reassess the risks they are taking on after years of blithely ignoring them. There is no reason to expect that mortgage lenders will behave any differently."
Around 8 per cent of the UK's 12 million mortgage holders are sub-prime borrowers, with the sector worth around 30bn. Edeus, Mortgage plc and Kensington are among sub-prime lenders to have raised rates or are poised to do so.
Jittery City urges investors not to panic, as mortgage lenders put squeeze on homeowners
It is believed that the Financial Services Authority, the City regulator, is pressing banks to disclose how badly they have been hit by the US sub-prime mortgage crisis. Analysts think more announcements of losses could trigger further falls in global equity markets, despite attempts by central banks to prop up institutions by ploughing billions of dollars into the money markets. A spokesman for the FSA declined to comment on whether it had ordered banks to make disclosures.
City calls for calm as FTSE threatens to fall further
Evangelical Christian banks and lenders have ballooned in number all over the US in recent years, offering the country's 120 million born-again Christians the opportunity to invest and borrow, safe in the knowledge that the bank they choose shares their religious values.
Now, Homebanc Corporation of Atlanta, Georgia, one of the pioneers of this expanding area in the financial services market, has filed for bankruptcy.
Chuck Ripka, a former vice-president and spiritual adviser with Riverview Community Bank in Otsego, Minnesota, another Christian financial services company, is equally stunned by the fall-out from the credit market problems and sure that many more Christian banks face an uncertain future. 'But you know,' he said, 'Jesus is the real CEO. He gives out the orders and we receive them. You have to follow God's word with wisdom. It might have seemed like a Christian thing to do to lend poor people money they can't afford to pay back. But now you have to ask yourself if that was what God intended and if in fact it was the right thing to do.'
No salvation for lending in God's name
Telegraph
The Times
FT
The Guardian
The Independent
This is Money
The big worry, is that the credit crunch will hit consumers, in particular homeowners. Borrowers with bad credit ratings are likely to be hit as those banks that have been lending to people with the worst credit ratings have become much more cautious; several UK lenders are already preparing to raise their interest rates by up to 2.5 percentage points this week. An estimated 750,000 homeowners in the UK who have a sub-prime mortgage could get hit. "Anybody with singular adverse credit will lose out. The price of sub-prime mortgages will go up," says Ray Boulger of mortgage brokers John Charcol.
The big freeze: crash puts the bull market frenzy on ice
Andrew Hagger at Moneyfacts, the financial research website, said: "Unless the markets stabilise over the next three to four weeks, other banks may also start raising mortgage rates." Philip Thornton, at Clarity Economics, added: "Lenders in every part of the financial universe are starting to reassess the risks they are taking on after years of blithely ignoring them. There is no reason to expect that mortgage lenders will behave any differently."
Around 8 per cent of the UK's 12 million mortgage holders are sub-prime borrowers, with the sector worth around 30bn. Edeus, Mortgage plc and Kensington are among sub-prime lenders to have raised rates or are poised to do so.
Jittery City urges investors not to panic, as mortgage lenders put squeeze on homeowners
It is believed that the Financial Services Authority, the City regulator, is pressing banks to disclose how badly they have been hit by the US sub-prime mortgage crisis. Analysts think more announcements of losses could trigger further falls in global equity markets, despite attempts by central banks to prop up institutions by ploughing billions of dollars into the money markets. A spokesman for the FSA declined to comment on whether it had ordered banks to make disclosures.
City calls for calm as FTSE threatens to fall further
Evangelical Christian banks and lenders have ballooned in number all over the US in recent years, offering the country's 120 million born-again Christians the opportunity to invest and borrow, safe in the knowledge that the bank they choose shares their religious values.
Now, Homebanc Corporation of Atlanta, Georgia, one of the pioneers of this expanding area in the financial services market, has filed for bankruptcy.
Chuck Ripka, a former vice-president and spiritual adviser with Riverview Community Bank in Otsego, Minnesota, another Christian financial services company, is equally stunned by the fall-out from the credit market problems and sure that many more Christian banks face an uncertain future. 'But you know,' he said, 'Jesus is the real CEO. He gives out the orders and we receive them. You have to follow God's word with wisdom. It might have seemed like a Christian thing to do to lend poor people money they can't afford to pay back. But now you have to ask yourself if that was what God intended and if in fact it was the right thing to do.'
No salvation for lending in God's name
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