Thank you Skinny. I have determined that I shall wait and see what happens for a while. I'm comfortable about sitting in this trade so there's no rush for me to take a decision now.
The first line banks have moved up the last couple of days with no apparent impact on ALD or SHAW. I'm not sure if this is the tail wagging the dog or whether ALD and SHAW may start to move later
Fantastic set of results but price struggling to move higher in any meaningful way.
I suspect share price held back by lack of dividend statement today..
I expect Investec to issue another absurdly low statement to go with the other 10. Mind you last time they moved ALD to their second banking tip with BARC first so they didn't do so well on that one.
Challenger bank Aldermore (ALD) declined 6.2% as major shareholder Anacap sold £113.7m worth of stock in the company at a discounted price of 220p per share.
Comment from BSB "Aldermore reported a 32% jump in its half-year pre-tax profits to £78m as its cost to income ratio improved from 46% to 44%. Despite that, at 14.9p earnings per share came in just shy of the 15.3p forecast by some analysts, although that did mark a rise of 45% on the year-ago period. Return on equity was also higher, rising from 16% to 19%."
Hoping it will break upwards out of this sideways range on these results