Anglo plummet

ranger4

Anglo irish shares took a massive drop today, Why have they fallen so much today in comparisson to the other irish banks.

Diarmuid

Irish Life & Permanent are down similar amounts.

mcdonrob

As per new requirements there were disclosures by several hedge funds today ~15:15 with regard to short positions. Anglo went into free fall after this as did Irish Perm L & P. In fact both Anglo and IPL&P were not performing as badly as BoI and AIB before this. After the 15:30 deadline though Anglo and IPL&P dived and BoI and AIB improved somewhat.
Apparently there was a complete absence of buyers (apart from Market Makers).
Also tomorrow is quarter end... could it be hedge & pension funds getting out?

ranger4

mcdonrob wrote: »

As per new requirements there were disclosures by several hedge funds today ~15:15 with regard to short positions. Anglo went into free fall after this as did Irish Perm L & P. In fact both Anglo and IPL&P were not performing as badly as BoI and AIB before this. After the 15:30 deadline though Anglo and IPL&P dived and BoI and AIB improved somewhat.
Apparently there was a complete absence of buyers (apart from Market Makers).
Also tomorrow is quarter end... could it be hedge & pension funds getting out?

Agree, also with the vote going against the us rescue plan this evening will make things very interesting tomorow, I for one will be watching anglo with baited breath, got in at 280 today.

daveirl

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Mikel

daveirl wrote: »

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What was the catalyst this afternoon for the sudden move?

daveirl

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Mikel

I see thanks.
FTSE must be likely to be down 5% on the Dow move, Anglo closed at 2.30, sub 2 open seems likely. 90% off it's high, mind boggling.
That's pretty much pricing in a default wouldn't you say?
Market Cap 1.7 bn, that's around 1.5 years earnings!

daveirl

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Mikel

daveirl wrote: »

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Did I imagine that other thread? I was reporting it and then.... never mind.

I just don't think it's a likely scenario.
Interestingly, Sean Fitzpatrick bought a lump of shares at around 4

Time Magazine

Mikel wrote: »

Did I imagine that other thread? I was reporting it and then.... never mind.

I just don't think it's a likely scenario.
Interestingly, Sean Fitzpatrick bought a lump of shares at around 4

For all this talk of selling, there's an exactly equal amount of buying.

irish_bob

i wonder will sean quinn be head of irelands rich list this year , since he invested big in anglo , they must be down close on 70%

daveirl

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ranger4

irish_bob wrote: »

i wonder will sean quinn be head of irelands rich list this year , since he invested big in anglo , they must be down close on 70%

Mr quinn must be very relieved with the rally of anglo today, i am.

daveirl

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ranger4

daveirl wrote: »

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wasent aware that mr quinn bought into anglo over 460 per share, The dail has yet to decide to accept the new proposal being put through by the government, just hope it doesnt go all pear shaped like in the us.

daveirl

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farva

To give you an idea of how unstable Anglo were yesterday, their 5 year Credit Default Swaps were at about 1035 bps, when Lehman collapsed theirs were up at about 700 bps. BOI are about 380 at worst, a few months ago BOI would have been about 50bps!! So Anglo we're very lucky not to have gone bust, and I reckon that they would have if Brian Lenihan hadn't announced that gaurantee this morning.

daveirl

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