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IL&P & aib icelandic debt exposure.

  • 27-10-2008 10:39AM
    #1
    ranger4
    Registered Users, Registered Users 2 Posts: 1,372 ✭✭✭


    Any views with how much IL&P and Aib are exposed to the icelandic banks, does it warrent the massive fall with their shares?


Comments

  • #2
    ranger4
    Registered Users, Registered Users 2 Posts: 1,372 ✭✭✭ranger4


    ranger4 wrote: »
    Any views with how much IL&P and Aib are exposed to the icelandic banks, does it warrent the massive fall with their shares?

    IL&P down over 30% at one stage today with the LSE and anglo over 25% :eek: how much longer can they continue to trade before some kind of government intervention like buying shares or possibly being merged.


  • #3
    Baird
    Closed Accounts Posts: 260 ✭✭Baird


    ranger4 wrote: »
    IL&P down over 30% at one stage today with the LSE and anglo over 25% :eek: how much longer can they continue to trade before some kind of government intervention like buying shares or possibly being merged.

    Up almost 40% at one point today.
    Markets are a complete farce at the moment.
    Mergers and/or gov intervention will do nothing to alleviate that.
    IL&P said they had some exposure to icelandic senior debt, that
    was a completely ludacris statement. If they were going to announce
    the exposure then they should have announced in detail what it was.
    It could have been 100m for crying out loud, instead the share price gets
    carried out. Management have a lot to answer for imho.


  • #4
    ranger4
    Registered Users, Registered Users 2 Posts: 1,372 ✭✭✭ranger4


    Baird wrote: »
    Up almost 40% at one point today.
    Markets are a complete farce at the moment.
    Mergers and/or gov intervention will do nothing to alleviate that.
    IL&P said they had some exposure to icelandic senior debt, that
    was a completely ludacris statement. If they were going to announce
    the exposure then they should have announced in detail what it was.
    It could have been 100m for crying out loud, instead the share price gets
    carried out. Management have a lot to answer for imho.

    Markets are a bit like playing russian roulette at mo, IL&P released another statement this morn saying their debt to icelandic banks totals 62 million euros with a further 42 million dollars and expects to create impairment provisions to cover debt, all this and the shares take off:confused: Markets must have been expecting even more bad exposure to icelandic banks, Wonder to what extent aib is exposed:eek:


  • #5
    Baird
    Closed Accounts Posts: 260 ✭✭Baird


    ranger4 wrote: »
    Markets are a bit like playing russian roulette at mo, IL&P released another statement this morn saying their debt to icelandic banks totals 62 million euros with a further 42 million dollars and expects to create impairment provisions to cover debt, all this and the shares take off:confused: Markets must have been expecting even more bad exposure to icelandic banks, Wonder to what extent aib is exposed:eek:

    That is about 3% of IL&P debt portfolio
    Why wouldnt their share price take off, the fall was completely irrational.


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