TX2
17 Jan 2018
Re: Trading update? I mentioned last August that Provident probably needed to raise an additional £300 to £400m capital;losses in the door step division & likely costs to settle potential claims re ROP;which is PPI on steroids,in its Vanquis division leave net tangible asset position very tight,particularly when the company is taking deposits from the public.
Boring Bernie
17 Jan 2018
Re: Trading update? I think a Rights Issue is pretty much nailed onHaving been in here for years, I saw a massive drop last year, which was my own fault, the signs were there and I chose to ignore them !I took the hit, and sold a third of my holding last week, and wish I'd sold the lot because the trading update was pretty ugly. Things are getting slowly better in CCU, but the talk about "The group continues to actively monitor its capital and liquidity positions in the context of the uncertainties surrounding the home credit recovery plan and the ongoing FCA investigations into ROP and Moneybarn." certainly sounds like a Rights Issue is on it's way. The main question really is how much is going to have to be raised, and that'll depend on the outcome of the FCA's investigations. We really need to get all the bad news behind us, and I'm not sure how long that's going to take.
contrarianstyle
17 Jan 2018
Re: Trading update? rights issue is the talk , hence the collapse today, not a dividend...
rRomeo29
16 Jan 2018
Re: Trading update? I think lots and lots of people have been speculating on a sure-thing re-installment of the PFG dividend. Wrongly speculated.This still needs time.---------- "...suspend all new sales of ROP in April 2016 remains in place and the agreement with the PR Authority not to pay dividends to, or enter into certain transactions outside the normal course of business with, the Provident Financial Group without the PRA's consent, also remains in place."
Callun
15 Jan 2018
Re: Trading update? rRomeo29,Thanks for your clarification.I'm one of those people who was holding when the crash came so am nervous of anything that sounds too positive.Since selling out at a loss I have been trading where I consider a direction change is indicated, content with relatively small gains in short periods. I note that my entry and exit points are gradually rising. Not yet convinced this is a long term hold and will continue to chip away at my loss until then.Callun
rRomeo29
12 Jan 2018
Re: Trading update? ...and the 14-day Stochastics on iii-uk suggest that the latest drop has been overdone and there is likely to be a rebound news Monday to a decent normal day 930p.Last week we've seen a normal TA retrace after one month of continued rise.
rRomeo29
12 Jan 2018
Re: Trading update? Callun, if someone came in new and only bought from the 950ish peak..., then of course he has a different experience.If you are amongst most peeps who entered as from 750ish / 800ish / 850ish then the past month, as from 14th Dec, PFG has seen a nice recovery and valid new up-trend.This is what I meant by stable. The mid-term uptrend remains fully intact.Nice simple chart on lse.uk will show you that the Sp is finding support at the mid term MA line (around 905p) or the short term MA line (around 895-898p).Both remain stable so far:[link] there WILL AND MUST come more "bad" news, because the FCA will ask the company for a compensation for Vanquish as well as Moneybarn. In my opinion both could end up with a 100k Pounds fine.)
Callun
11 Jan 2018
Re: Trading update? Right now everything remains stable above the 904 support line---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---Not sure what you mean by this. The SP has fallen 50p the last 3 days, hardly stable, and the support is nearer to 885 than 904. Could you explain please?For me the steady range trading available offers a chance to recover some of my previous losses, though I'm cautious that there might be more bad news out there..Callun
rRomeo29
11 Jan 2018
Trading update? Expected by mid January, right?Any suggestions?Right now everything remains stable above the 904 support line.
rRomeo29
28 Dec 2017
Re: Tide turning > although 929(!) has been touched today, the Sp still battles the 925 wall> if climbrd, then two or three spikes to 960 and finally 1030> here PFG might calm down for a few weeks and establish an 1000ish sideway trend> if 1030 is breached, then rise to our mid term target of 1,390p
welloiled1
28 Dec 2017
Re: Tide turning Nice retrace but 925 difficult to breach...
rRomeo29
20 Dec 2017
Re: Tide turning ...and 880p has now been touched, with the Sp fighting there for a while. No probs.Looks like the tide is turning. If 888p is climbed, then new long term rise and 925p next target.
II Editor
14 Dec 2017
NEW ARTICLE: Woodford's Capita and Sports Direct crash "Poor results seem hard to shake off for fund manager Neil Woodford and Newcastle United owner Mike Ashley at the moment. But even these two star names might have been surprised at the scale of their respective losses at LSE:CPI:Capita and ..."[link]
rRomeo29
12 Dec 2017
Re: Tide turning While in November quite a few people got kicked out or jumped during that nasty retrace (totally unexpected news about the CEO), as from now its best to keep a close eye on things: PFG is giving first signs of a new trend. Now placing a few AT buys just in case...- first sign for a new up-trend comes when 807 - 810 is climbed and maintained- buy signal is confirmed IMHO as soon as 817 is climbed- then new trend towards 865 and 880
welloiled1
12 Dec 2017
Re: Tide turning Buying in at 475 - 520 seems like the right move then looking at your chart...
