B & B shares - would you buy now?

sabretoothtigger

ad44downey wrote: »

There were plenty of posters on here who said they were buying them not so long ago.........

I only said instead of eating crisps for a year, dont get fat and buy a bb lottery ticket instead

ad44downey

Ever since Northern Rock went under B&B has been a dead man walking. It'll be taken over/rescued by the government very soon. Depositors money is safe but I doubt if shareholders will get much if anything at all.

sabretoothtigger

However if the next set of housing figures shows no fall in prices or unemployment does not rise, inter bank credit starts to become viable again then their business model works perhaps.
They have american debt as well as uk though, in fact I think they are in a contract to buy even more

Andrew64

sabretoothtigger wrote: »

They have american debt as well as uk though, in fact I think they are in a contract to buy even more

I think this is it!

http://www.marketwatch.com/news/story/bradford--bingley-reveals-loss/story.aspx?guid={B5EB72BA-F6FD-4087-9B42-79959794E6A9}&dist=msr_8

"Bradford & Bingley's problems have been exacerbated by a contract to buy up to 350 million pounds of mortgages a quarter from GMAC."

10_66

Andrew64 wrote: »

"The writing is on the wall there. It looks as if it's on the brink of collapse and may need a bailout as well.'"

Heard on Radio 5 money news this morning that the FSA are looking at HSBC buying B&B.

Stavros_3

Alistair Darling on Sky news this morning was asked directly by Eamon Holmes if Bradford and Bingley are in trouble. Darling refused to answer the question, says it all really

Andrew64

According to The Times, the FSA has already approached 3 banks, including Santander, who don't seem a bit interested. I wonder why!!

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4799662.ece

Stavros_3

http://news.sky.com/skynews/Home/Business/Bradford-And-Bingley-Buyer-Hunt-By-Financial-Services-Authority/Article/200809415104321?lpos=Business_Carousel_Region_1&lid=ARTICLE_15104321_Bradford_And_Bingley_Buyer_Hunt_By_Financial_Services_Authority

bristolleedsfan

Stavros wrote: »

http://news.sky.com/skynews/Home/Business/Bradford-And-Bingley-Buyer-Hunt-By-Financial-Services-Authority/Article/200809415104321?lpos=Business_Carousel_Region_1&lid=ARTICLE_15104321_Bradford_And_Bingley_Buyer_Hunt_By_Financial_Services_Authority

http://www.myfinances.co.uk/news/investments/share-prices/b-b-shares-up-on-takeover-rumours-$1241762.htm


" Although shares have risen on hopes of a takeover, the Times has reported that none of the banks approached by the FSA are interested in buying B&B.

If it emerges that no buyer can be found, this may send shares in the lender plummeting, raising fears for its future. "


http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=314916


"Brokers clearly took the speculation seriously however with Panmure Gordon reacting swiftly to downgrade the stock. It gave it a price target of just 7p from 20p and said: 'We take the absence of any such bidder so far as a bad sign.'"

sabretoothtigger

BROKER & NEW RATING (FROM) TARGET (PREVIOUS) COMPANY


Panmure:
Bradford & Bingley 7p (20p)
JP Morgan: Barclays Underweight (Neutral) 210p (570p)

Lloyds TSB Underweight (Neutral) 180p (450p)
RBS Underweight (Neutral) 120p (320p)

Independent Research:
Deutsche Bank Accumulate (Buy)

RBS:
HSBC Hold (Sell) 850p (700p)

UBS:
Lloyds TSB Neutral (Buy) 300p (250p)

7p