The FTSE

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Millwallawayveteran1988 said:
Shell only finished up about slightly when it was 4% up earlier. BP down 4.6%. These companies are not without Russian connections.

interestingly the Nasdaq which has been hammered recently is going the best so far, down 0.43%
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It was just on the news that BP owns 20% of Rosneft which will be dragging its SP down. Rosneft is down 43% similar to most Russian stocks.
 
Millwallawayveteran1988 said:
Nasdaq up 3% now! Mad day.
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It's a technology index and if there is anything that is going to put the Russian assault down it will likely be the ability to strike back at the aggressors from a safe distance. Technology rather than boots on the ground. My take on it anyway.
 
west didsblue said:
BAE Systems up 6% today. Shell also up.
Arms and oil is where it's at.
NATO members whose defence spending is below the 2% target may be re-thinking their priorities at the moment.
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I see that since I posted this that the Germans have announced that they’re not waiting till 2024 to increase their defence spending but are doing it straight away with other NATO members and non-NATO European countries likely to do the same. Boom time for defence companies for the next few years.
 
west didsblue said:
I see that since I posted this that the Germans have announced that they’re not waiting till 2024 to increase their defence spending but are doing it straight away with other NATO members and non-NATO European countries likely to do the same. Boom time for defence companies for the next few years.
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If all goes well in the next couple of weeks.

Be interesting to see what happens with BP shares tomorrow after their almost forced disposal of their stake in the Russian company. Markets did well Friday but after todays developments I can’t see tomorrow being a great one.
 
Millwallawayveteran1988 said:
If all goes well in the next couple of weeks.

Be interesting to see what happens with BP shares tomorrow after their almost forced disposal of their stake in the Russian company. Markets did well Friday but after todays developments I can’t see tomorrow being a great one.
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I was wondering that with BP. Presumably they’ve had to write off their Rosneft stake which must have been worth billions before Thursday.
 
west didsblue said:
I see that since I posted this that the Germans have announced that they’re not waiting till 2024 to increase their defence spending but are doing it straight away with other NATO members and non-NATO European countries likely to do the same. Boom time for defence companies for the next few years.
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22B42570-1D5E-4E1D-8669-772CFF7913F8.jpeg
 
west didsblue said:
I was wondering that with BP. Presumably they’ve had to write off their Rosneft stake which must have been worth billions before Thursday.
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From the FT

“BP said the changes in the accounting treatment of the Rosneft stake would lead to two “material non-cash” charges in its first-quarter results that could amount to as much as $25bn: an $11bn charge related to foreign exchange losses, and the difference at that time between the “fair value” and the “carrying value” of the stake, which is currently $14bn.”
 
west didsblue said:
Doing fairly well if effectively writing off a £25bn asset only drags the SP down 7%.
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Non-cash “Foreign exchange” and difference between “fair value” and carrying value” isn’t a “real” $25Bn loss on a $100Bn market cap!

In fact, in writing down those “losses,” they may manufacture significant offset value from them!

Next year people will be complaining they didn’t pay any taxes on $15Bn profit!! ;-)
 
Unusual day for me.

My shares are up 3% whilst the market is down 1.5%. Defence and Hydrogen more than offsetting everything else.
 
ChicagoBlue said:
BP going to find it difficult to offload that 20% stake in Rosneft!

Down 6% now.
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I used to work for them and was in the company share scheme. I ummed and aahed before selling them at £6.30 a share. I had quite a lot and bought a house cash with the proceeds. Probably the best financial decision I’ve ever made.
 
west didsblue said:
Doing fairly well if effectively writing off a £25bn asset only drags the SP down 7%.
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You have to remeber that the other assets that BP will be sat on will be going through the roof. And wile they are 'forced to sell this stake' they haven't sold it yet and it will still have some value. Always some shady characters somewhere willing to step in. The currency thing is a flat loss but as i said others assets they hold will be massively up.
 
west didsblue said:
Unusual day for me.

My shares are up 3% whilst the market is down 1.5%. Defence and Hydrogen more than offsetting everything else.
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Yeah likewise - Got BAE at 4.96 that has gone through the roof, think that's got a lot of legs with the German military defence spending announcements though and BP down by 6% but still considerable above purchase during the pandemic.

Don't really give a fuck either way though in light of the insanity and suffering that is happening now although I wish I had taken a short position on a Russian money market currency fund, that's a profit I would have really enjoyed!
 
A very strange day today on markets. UK and Europe ended relatively flat after a poor start in Europe. However, they closed when the US markets were on the up. They are currently on the dip so will be interesting to see how that ends. I’ve been reading today that some expect this to lead to Central Banks curtailing their plans to increase rates and tighten policy which will generally be good for equities, particularly growth orientated funds which have been hit hard recently. They obviously aren’t taking Putins Nuclear threats seriously.
 
Bad news for the world.
On the basis that I've predicted that tensions with Russia are peaking today I've flogged a load of BAE Systems shares on the basis that when tensions ease so will the share price.
My share price predictions are invariably wrong so I suspect the price will soar tomorrow meaning tensions will be even higher.
At least I'll have a couple of weeks to spend the money!
 
west didsblue said:
Bad news for the world.
On the basis that I've predicted that tensions with Russia are peaking today I've flogged a load of BAE Systems shares on the basis that when tensions ease so will the share price.
My share price predictions are invariably wrong so I suspect the price will soar tomorrow meaning tensions will be even higher.
At least I'll have a couple of weeks to spend the money!
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Motley fool have taken the same position as you today - you should of called me I would have taken them off you at mid price ;-)
 
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