HBOS shares

setmefree

Shares now at 273.25

napoleon

A warning for anyone tempted to invest in turkeys like HBOS and B&B

Hedge funds reveal bet on UK bank stocks
From todays FT.

Some of the world's biggest hedge funds were revealed to have taken big positions betting on declines in a number of the most sensitive stocks in the UK market.

Short-sellers, who profit when shares drop, took advantage of a big increase in HBOS shares on the day of the announcement 10 days ago to ramp up their bets, according to official data on stock lending compiled by Data Explorers.

Those shorting HBOS - the bank in the middle of a rights issue - are led by Harbinger Capital, the powerful US hedge fund that made its name, and 116 per cent return, by shorting US subprime mortgages last year.


Harbinger yesterday disclosed that it held a 3.29 per cent short position in HBOS, worth about £350m, which some analysts said helped drive shares in the bank below the issue price again.

The Financial Services Authority announced new rules on June 13 forcing the disclosure of short positions of more than 0.25 per cent of a company during a rights issue after fierce lobbying from City institutions worried that the HBOS rights issue could fail. The FSA said that its emergency move was designed to stop "abusive" shorting, sales explicitly designed to push the price below the rights price.

The new disclosure rules, thought to be the strictest in the world, prompted a wave of revelations of hedge fund positions yesterday led by some of the most powerful funds. GLG Partners, London's second-biggest hedge fund manager, said it was short 4.14 per cent of Bradford & Bingley, while Stephen Mandel's Lone Pine, Tiger Global, one of the "Tiger cubs" spawned by legendary manager Julian Robertson, and London stockpickers Lansdowne Partners, all disclosed short positions.

Crispin Odey, whose eponymous hedge fund group disclosed a short position of 0.28 per cent in Bradford & Bingley, cast doubt on the usefulness of the new rules, however.

setmefree

Shares end today at 274.75

ad44downey

I can't believe they haven't fallen alot more. It only a matter of time though. The housing market has only just begun to tank so god knows how low they'll be at the end of the crash

tradetime

tradetime wrote: »

Thought they were getting funding from Soverign wealth, or was that somebody else, don't really follow UK stuff that closely.

Barclays raising capital, clearly put off the rights issue route, unsurprisingly.

setmefree

Share price 276.50 morning all

setmefree

tradetime wrote: »

Barclays raising capital, clearly put off the rights issue route, unsurprisingly.

What is the trading position in the middle east, Maybe a Camel and a barrel of oil for every 100,000 shares
:rotfl::rotfl:

setmefree

289.00 Going up today

matttttttttt

Please beleive me I am not obsessed with the price of these shares!! LOL.

setmefree

share price now 285.50