Allied Irish Banks (AIB)

[mlkrborn]

Bondholders Seek To Delay AIB Buyback Deal - FT
3:24a ET June 3, 2011 (Dow Jones)
Bondholders Seek To Delay AIB Buyback Deal - FT

LONDON (Dow Jones)--Junior bondholders of Allied Irish Banks PLC (AIB) are seeking to delay the bank's buyback tender to give themselves time for a legal challenge to the Irish government's stance on trying to force the bondholders to accept losses, the Financial Times reports Friday, quoting a lawyer for one of the bondholders.
The paper says Abadi & Co Securities, one of two investors challenging the Irish government's powers to slash the value of their subordinated bonds, will Friday ask a Dublin court to delay AIB's buyback timetable, which currently says bondholders have to decide whether to accept a cash offer by June 13.
The court case could have a big bearing on government efforts to cap the cost of recapitalizing its banks, with authorities hoping to recoup up to EUR6 billion by persuading junior bondholders to accept losses.

Newspaper Web site: http://www.ft.com

-London Bureau, Dow Jones Newswires; [phone]

[mlkrborn]

Irish Central Bank: Anglo Irish, Irish Nationwide Unlikely To Need More Aid
11:35a ET May 31, 2011 (Dow Jones)
Irish Central Bank: Anglo Irish, Irish Nationwide Unlikely To Need More Aid

DUBLIN (Dow Jones)--Anglo Irish Bank Corp and Irish Nationwide Building Society, two lenders at the heart of the country's banking implosion, are unlikely to need aid beyond the EUR34.7 billion the Irish government has already injected into them, the central bank said Tuesday.
The results of a new stress test on Irish Nationwide and a separate assessment of Anglo Irish show the previous forecasts for future loan losses were "robust" and "reasonable," the central bank said.
Because they are being wound down, the two banks were not included in the stress tests the central bank conducted on four surviving lenders this year.
Those tests showed that Allied Irish Banks Plc, Bank of Ireland Plc, Irish Life and Permanent Plc and the Educational Building Society required EUR24 billion in additional capital.
Tuesday's announcement therefore means that the final bill to the Irish government in recapitalizing the broken banks will now likely be less than the EUR70 billion estimated earlier this year.
The government has pumped EUR46 billion into Irish banks since the country's financial crisis erupted in late 2008, including EUR29.3 billion into Anglo Irish and EUR5.4 billion into Irish Nationwide.

--By Eamon Quinn, Dow Jones Newswires, [phone]; [e-mail]

[fuller11]

I hope this pos goes belly up

[Nilbud]

Session Thru the Recession

[Nilbud]

[mlkrborn]

1:36AM Allied Irish Banks: Aurelius Capital comments on co's tender offer (AIB) 2.87 : Aurelius Capital Management issued the following statement regarding the pending tender offer by Allied Irish Banks for its subordinated bonds. Aurelius is the investment manager for three funds that own such bonds. The Aurelius funds have appealed the Subordinated Liabilities Order issued last month at the request of the Irish Ministry of Finance. "We do not object to Allied Irish Banks commencing a bond tender offer during the pendency of our appeal from last month's Subordinated Liabilities Order. The new tender offer proves our contention that the Irish Ministry of Finance egregiously discriminated against US investors by excluding them from AIB's prior tender offer at a far higher price and then imposing the punitive SLO on them. It adds insult to injury that the Ministry obtained the SLO without first allowing AIB to conduct a coercive tender offer of the sort that worked for Anglo Irish Bank without resort to an SLO...The SLO represents a cure that is far worse than the disease. Resorting to the SLO rather than a commercial restructuring would save only a miniscule percentage of the amount needed to recapitalize one bank, AIB, yet it would chill foreign investment in Ireland for years to come.

[fuller11]

There does not appear to be any gold under this rainbow.

[mlkrborn]

Allied Irish Banks and National Bank of Greece Seek to Restore Investor Confidence
The Bedford Report Provides Analyst Research on Allied Irish Banks and National Bank of Greece
marketwire

Companies:
o Allied Irish Banks plc
o National Bank of Greece SA

Related Quotes
Symbol Price Change
AIB 3.20 +0.07

Press Release Source: The Bedford Report On Friday May 6, 2011, 8:16 am EDT

NEW YORK, NY--(Marketwire - 05/06/11) - Investors in European Banking are proceeding with caution this week after top regulators warned that banks that fall short of parameters set in the recent pan-EU stress tests will receive a mere six months to repair their finances or face further action. The stress tests, which promise to properly assess the health of European banks, are critical to the European Union's efforts to win back the confidence of financial markets. The Bedford Report examines the outlook for Foreign Banks and provides research reports on Allied Irish Banks PLC (NYSE:AIB - News) and National Bank of Greece SA (NYSE:NBG - News). Access to the full company reports can be found at:

www.bedfordreport.com/2011-05-AIB

www.bedfordreport.com/2011-05-NBG

Following the sector-wide stress tests in March, Allied Irish Banks said that deposit outflows have stopped as the government committed to recapitalise it by 13.3 billion euros. AIB bought 8.6 billion euros of deposits from the nationalised Anglo Irish Bank and said the outflow of those deposits since had been less than 10 percent.

After performing surprisingly well in the latest round of stress tests, Allied Irish Banks hopes to return to a net profit by 2012. The Bank said it would cut more than 2000 jobs after reporting a net loss of $15 billion in 2010.

The Bedford Report releases regular market updates on the Optical Networking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

The governor of the Bank of England, Mervyn King, warns that banks that pass the latest round of stress tests should not automatically be viewed as safe. King, who believes that the stress tests should be considered a "regular exercise," argues that it will take many years to work through the effects of the financial crisis.

Greece, in particular, continues to face significant headwinds following its economic demise as banks are making efforts to reinforce liquidity, and reduce their reliance on the European Central Bank. National Bank of Greece CEO Apostolos Tamvakakis argues that Mergers are the only way to rebuild Greece's banking system.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer

[QualityStocks]

AIB Video Chart 4/26/11

http://www.qualitystocks.net/videocharts.php

Allied Irish Banks is not a current client of QualityStocks

[mlkrborn]

ALBK 0.22 vs BKIR 0.25 euros! INCreadible!

[Investorman]

New report reveals madness at root of Irish crisis
11:35am EDT

* Banking sector took large risks; herd mentality

* Officials had a lack of scepticism not lack of power

* Major domestic policy failure at the central bank

* Banks' boards had little appreciation of how they were run


By Padraic Halpin

DUBLIN, April 19 (Reuters) - A third and final probe into Ireland's banking crisis reads like a psychologist's report.

Groupthink, herding and a "national speculative mania" are all cited as explanations for why Irish banks' reckless lending went unchecked, leading to devastating consequences for the country and its people.

"As in most manias, those caught up in it could believe and have trust in extraordinary things, such as unlimited real wealth from selling property to each other on credit," said the 172-page report, published on Tuesday.

"It appears now, with hindsight, to be almost unbelievable that intelligent professionals in the banking sector appear not to have been aware of the size of the risk they were taking."

Anglo Irish Bank [ANGIB.UL] and Irish Nationwide [IRNBS.UL] were at the heart of the flawed lending practices which saw Dublin house prices trump Manhattan and Moscow at the height of the property bubble in 2006, the report's author, Finnish expert Peter Nyberg, concluded.

But the other banks dubbed "The Herd" followed their lead, while the banks' external auditors were "The Silent Observers" and the public authorities -- the central bank, the financial regulator and the Department of Finance -- were "The Enablers".

A belief in the fundamentals of the Irish property market and in the efficient operation of financial markets led to Groupthink, a psychological process that reduces the likelihood of critical views being aired.

"In order for a systemic crisis to happen, you will need a very large part of society to take part, not understand the risks or stay quiet," Nyberg, a former director general for financial services at the Finnish Ministry of Finance, told a news conference.

"Investors have to make bad decisions, banks have to make bad decisions. You have to have a central bank, regulator and a government that doesn't understand or care, media has to be supportive and politicians, in general, have to not understand."


TRIO OF REPORTS

Ireland has since overhauled supervision of the financial sector, beefed up staffing at the central bank and is in the process of cutting its banking sector down to just two lenders to stabilise its finances.

Last month, the government put a 70 billion euros ($100 billion) pricetag on drawing a line under the banking crisis, which forced Dublin into an EU-IMF bailout last year.

The previous government, booted out of office in a February election dominated by the crisis, commissioned Nyberg to look into the period leading up to the nationalisation of Anglo Irish Bank [ANGIB.UL] in mid-January 2009.

His remit did not include looking at the role of government.

Two previous reports, one of them authored by central bank governor Patrick Honohan, had looked at events leading up to the end of Sept 2008, when the government guaranteed the banking sector's liabilities, tying the fate of the sovereign to its bust lenders.

Those earlier reports blamed the implosion of the banking sector on the government's pro-cyclical fiscal policy, poor corporate governance and the then financial regulator's excessively deferential approach.

[Blckcat5000]

Moody's downgrades Irish economy two notches according to Worldwide Exchange, just after Fitch upgrades... hence the uncertainty of Irish economy

[mlkrborn]

NAMA soul searching financing!

* RPT-UPDATE 3-Allied Irish loss soars to $15 bln,axes 2,000 jobs
9:46am EDT
* UK banks told to boost capital, shield taxpayers
Mon, Apr 11 2011

* EU banks must have 5 percent quality capital to pass exam
Fri, Apr 8 2011


Stocks

Bank of Ireland
BKIR.I
€0.25
-0.02-6.37%
11:31am EST

Allied Irish Banks Public Ltd Co
ALBK.I
€0.22
-0.03-12.00%
11:30am EST

Tue Apr 12, 2011 11:18am EDT

* NAMA to talk to two main banks about provision of finance

* NAMA move could be positive but there are risks -analysts

(Adds analyst comment, further details)

By Padraic Halpin

DUBLIN, April 12 (Reuters) - Ireland's state-run National Asset Management Agency (NAMA) said on Tuesday it is exploring ways it can provide finance for residential and commercial property deals in a bid to restart the local property market.

The so-called 'bad bank', established in 2009 to help purge Ireland's financially crippled lenders of risky development loans, said it wanted to speak to Bank of Ireland (BKIR.I) and Allied Irish Banks (ALBK.I) and see if it could help address the lack of finance available to buy property.

NAMA has to date spent 30.5 billion euros ($44.12 billion) on acquiring property loans with a total face value of 72.3 billion euros from some 850 debtors and is tasked with generating a return for the taxpayer over a 7-10 year period.

"NAMA is currently exploring ways in which it could further facilitate the provision of liquidity into the market by providing staple finance for commercial deals and also by exploring options on the residential front," Frank Daly, the chairman of NAMA, said in a speech in Dublin.

"We would, for example, be interested in talking with the two pillar banks to see how we could work together to move things along in this area. At a time like this, it is imperative that NAMA is creative in terms of identifying solutions to get the market moving."

Daly said there was a latent demand among potential buyers of residential properties and that the only way to lift the market from its "current slumber" was to generate transactions at whatever prices buyers are currently willing to pay.

He said there were a number of signs commercial property prices may be close to stabilisation and that the bulk of the decline in residential property had already occurred.

Analysts said that while it would be an unusual move for the dominant market player to also be the provider of finance, it could be worthwhile once credit is handed out conservatively and NAMA avoided a fire sales of assets.

"Clearly if they had lots of credit and they were handing it out willy nilly, there would be the risk of a new bubble in Irish property but I don't think it's going to work like that," said Ronan Lyons, economist with property website Daft.ie.

"Overall the goal is worthwhile in terms of NAMA trying to get itself out of existence by selling as much as it can and as quickly as possible without starting a stampede of fire sales."

Daly also said NAMA has set an end of April deadline for 145 debtors with a combined debt of about 34 billion euros to submit business plans and that it will take enforcement action if they fail to meet the deadline or take the process seriously.

He said there were also a small number of people from NAMA's top 30 debtors, with debts of 27 billion euros, who were attempting to prolong the negotiations over their business plans and that enforcement action would likely follow there too.

Daly said the overall impact of working out plans with debtors was that quite a number of properties will be going on the market over the rest of this year and into next year. ($1=.6912 Euro) (Editing by Jon Loades-Carter)

[mlkrborn]

NAMA soul searching financing!

* RPT-UPDATE 3-Allied Irish loss soars to $15 bln,axes 2,000 jobs
9:46am EDT
* UK banks told to boost capital, shield taxpayers
Mon, Apr 11 2011

* EU banks must have 5 percent quality capital to pass exam
Fri, Apr 8 2011


Stocks

Bank of Ireland
BKIR.I
€0.25
-0.02-6.37%
11:31am EST

Allied Irish Banks Public Ltd Co
ALBK.I
€0.22
-0.03-12.00%
11:30am EST

Tue Apr 12, 2011 11:18am EDT

* NAMA to talk to two main banks about provision of finance

* NAMA move could be positive but there are risks -analysts

(Adds analyst comment, further details)

By Padraic Halpin

DUBLIN, April 12 (Reuters) - Ireland's state-run National Asset Management Agency (NAMA) said on Tuesday it is exploring ways it can provide finance for residential and commercial property deals in a bid to restart the local property market.

The so-called 'bad bank', established in 2009 to help purge Ireland's financially crippled lenders of risky development loans, said it wanted to speak to Bank of Ireland (BKIR.I) and Allied Irish Banks (ALBK.I) and see if it could help address the lack of finance available to buy property.

NAMA has to date spent 30.5 billion euros ($44.12 billion) on acquiring property loans with a total face value of 72.3 billion euros from some 850 debtors and is tasked with generating a return for the taxpayer over a 7-10 year period.

"NAMA is currently exploring ways in which it could further facilitate the provision of liquidity into the market by providing staple finance for commercial deals and also by exploring options on the residential front," Frank Daly, the chairman of NAMA, said in a speech in Dublin.

"We would, for example, be interested in talking with the two pillar banks to see how we could work together to move things along in this area. At a time like this, it is imperative that NAMA is creative in terms of identifying solutions to get the market moving."

Daly said there was a latent demand among potential buyers of residential properties and that the only way to lift the market from its "current slumber" was to generate transactions at whatever prices buyers are currently willing to pay.

He said there were a number of signs commercial property prices may be close to stabilisation and that the bulk of the decline in residential property had already occurred.

Analysts said that while it would be an unusual move for the dominant market player to also be the provider of finance, it could be worthwhile once credit is handed out conservatively and NAMA avoided a fire sales of assets.

"Clearly if they had lots of credit and they were handing it out willy nilly, there would be the risk of a new bubble in Irish property but I don't think it's going to work like that," said Ronan Lyons, economist with property website Daft.ie.

"Overall the goal is worthwhile in terms of NAMA trying to get itself out of existence by selling as much as it can and as quickly as possible without starting a stampede of fire sales."

Daly also said NAMA has set an end of April deadline for 145 debtors with a combined debt of about 34 billion euros to submit business plans and that it will take enforcement action if they fail to meet the deadline or take the process seriously.

He said there were also a small number of people from NAMA's top 30 debtors, with debts of 27 billion euros, who were attempting to prolong the negotiations over their business plans and that enforcement action would likely follow there too.

Daly said the overall impact of working out plans with debtors was that quite a number of properties will be going on the market over the rest of this year and into next year. ($1=.6912 Euro) (Editing by Jon Loades-Carter)

[mlkrborn]

ALBK ' s loss over 10b euros. Tested 0.22 today.. BKIR sliding today and tomorrow. If better results than ALBK, may rebound..
AIB planning to cut 2,000 jobs
AIB's loss increased to EUR10.4 billion, up from EUR2.3 billion a year earlier, according to a statement today. Photograph: PAAIB's loss increased to EUR10.4 billion, up from EUR2.3 billion a year earlier, according to a statement today. Photograph: PA
Related

* Deposits at AIB fall by €13bn | 19/11/2010
* Government to nationalise AIB | 23/12/2010
* Ulster Bank losses weigh on RBS | 24/02/2011
* BOI, AIB deposits 'rebound' | 06/04/2011
* AIB set to announce significant redundancies | 11/04/2011
* AIB confirms State has 92.8% stake | 09/04/2011
* Minister told bailout talks a chance to modify deal | 08/04/2011
* AIB to restructure with tighter top-level control | 08/04/2011

External

* AIB statement

The Irish Times takes no responsibility for the content
or availability of other websites

ÉANNA Ó CAOLLAÍ

Allied Irish Banks is to cut over 2,000 job after posting a record €10.4 billion net loss on continuing operations last year.

The bank's loss increased from €2.3 billion in 2009.

In a statement released this morning, the bank – which is 93 per cent Government-owned - said costs must be lowered as business and market conditions remain challenging and the environment for operating income generation "remains difficult".

"It is expected that a reduction of over 2,000 staff will take place on a phased basis over 2011 and 2012," the bank said.

AIB's share price was down almost 12 per cent at 3pm, trading at €0.22.

Speaking this morning, AIB executive chairman David Hodgkinson said the losses were largely due to poor quality loans where the bank did not expect repayment.

AIB’s deposits fell by €22 billion to €52 billion last year and the bank lost €7 billion on loans it transferred to the National Asset Management Agency (Nama), and a €6 billion impairment charge on other bad loans.

Most of these loans are property-related, Mr Hodgkinson told RTÉ's Morning Ireland. He said the bank's deposit outflows have "lessened" and "stabilised" in the early part of this year.

Mr Hodgkinson said the news of the bank's recapitalisation had been positively met by the market and added he hoped that might represent a turning point for the institution. He said the "bulk" of the loan problems are based in the Republic of Ireland and are property-related.

He said the provision of a "significant amount of capital" in the form of the Government bailout gives the bank the "firepower" to help borrowers in difficulty. "What we want to do is engage with customers who are in difficulty, talk to them, understand their position fully and try and agree a solution with them."

Mr Hodgkinson said the job cuts will be spread across the organisation. “The bank as a whole has to slim down from the size it was,” he said, adding that he expects the “vast majority” of redundancies to be on a voluntary basis.

He said the bank should be "reasonably generous" when it comes to severance packages as people "are losing their jobs and their livelihoods".

Minister for Public Sector Reform and Expenditure Brendan Howlin said it was a bleak day for bank workers. “It is clear that there is going to be a considerable downsizing of the banking sector in Ireland, that’s true and that will involve job losses,” Mr Howlin said. “It already has involved job losses for an awful lot of people. I think what people want now generally is some level of certainty.”

Mr Howlin said the decision to restructure the banking sector was the beginning of that process.

Irish Bank Officials Association (Iboa) general secretary Larry Broderick said the job losses were the equivalent of a major multinational pulling out of the country and warned that the Government’s plans to restructure the banking sector could impact around 6,000 workers.

“I would have thought, given the seriousness of this and the fact that the vast majority of staff are not responsible for the mess that AIB is in, that courtesy would have been given to them and they would have been advised in advance,” he said.

Mr Broderick called for a meeting with Taoiseach Enda Kenny and Tánaiste Eamon Gilmore over the banking sector plans. “This is a major, major blow for many, many families in Ireland today,” he said.

Mr Hodgkinson said in the future, the bank will have a focus on the domestic market and on some businesses in the UK. On recent and anticipated ECB interest rates and, he said AIB would "aim to be quite fair" about how rate changes are passed on.

The speed at which AIB recovers and returns to a position of profitability and self-capitalisation is heavily influenced by the country’s economic prospects.

Mr Hodgkinson said he was "quite positive" about Ireland's long-term economic outlook. "Ireland has some very powerful competitive advantages, Its an open economy. It is very attractive to international businesses. It has a good education system and a good workforce," he said.

"Ireland's costbase has already improved dramatically for business. So really for me, it's in part a return of confidence that's needed."

[mlkrborn]

ALBK 0.25 vs BKIR 0.25 euros..Will bring ALBK down a bit it seems.

[Blckcat5000]

Great article, I think it will bring investors back to earth a bit. I sold all my shares last week after a 4-day run. My ADVICE to all investors (only if u see fit), this company is set for nationalization, I hope the IRE economy finds recovery. Their unemployment rate is staggering. These global dismal economic times can be tough, but if you do ur dd and blog with the right type of investors, money can be made :)

[DAD2]

Interesting news:

http://finance.yahoo.com/news/Allied-Irish-to-cut-2000-jobs-apf-3601227906.html?x=0&.v=1

[Blckcat5000]

What: Shares of Irish financial giant Bank of Ireland (NYSE: IRE ) slipped today, losing as much as 11% in intraday trading on heavier-than-average volume.

So what: Following the results of the most recent round of banking stress tests in Ireland and the announcement of the country's plan for the banking industry, both B of I and Allied Irish Banks (NYSE: AIB ) got a huge boost from investors. So why the apparent change of heart? Part of it is likely short-term speculators who are taking their gains and calling it a day. At the same time, longer-term investors may be questioning what the government's continued involvement in these banks will mean for equity shareholders.

Now what: On Friday, my fellow Fool Zeeshan Siddique suggested that the stress tests may have shown that nationalizing the entire banking sector is the way to go. That would obviously be terrible news for shareholders since -- at least under a full nationalization -- they'd be left with bubkes. While that might not be a particularly surprising outcome for Allied Irish, it would be more surprising to see it happen to the healthier B of I. But of course, we're not talking about straight economics or finance here -- we're talking politics. With the future of these stocks largely riding on the decisions made by the Irish government, I'd be nervous putting any money at risk except as a high-beta gamble.

Want to keep up to date on these stocks?

Add Bank of Ireland to your watchlist.

[mlkrborn]

ALBK 0.25 vs IRE 0.27 EUROS!

[Blckcat5000]

no problem, just trying to spread the good word when a stock does well :) Just want everyone to make money today!

[primarywatcher]

Blckcat...respectfully, quit posting "off topic" posts on the AIB thread.

[Blckcat5000]

Alright dude, vvus up this morning with the good news! You may wanna check it out, as for AIB, I'd say its pretty toxic now.

[mlkrborn]

Finally reality check !

[Blckcat5000]

Not really sure how shz made gains today, considering resports that the company cooked their books, IMO. As for Allied Irish Banks, Look for June as a good entry/exit in regards to next evaluation from the EU

[invest2win]

Yes I did except for a hundred shares. I can always tell when a stock is a little flaky. Most times anyway.

[Blckcat5000]

Stock just hit 3.83, down 11.71%, good thing I had a hunch this morning to get out. Hope u did the same. Closed IRE at 2.34, AIB at 4.15. Just gonna wait for the next news, btw, AIB always seems to makes gains 2 days consistently. I knew today was too far out from mondays incredible gains from Mar. 31st. Also, hit big today on China Shen Zhou Mng & Res, which was suprising because the CFO resigned recently, but yesterday it made significant gains so I played the momentum. IMO now

[invest2win]

Looks like I can rid of this at the right time other than the 100 shares I held onto just for fun.

[Buell]

Here is the 12mil

It's part of the disposal of AIB's 70.36% stake in Bank Zachodni WBK S.A.

AIB - conversion of convertible non-voting shares
* Reuters is not responsible for the content in this press release.

Fri Apr 8, 2011 12:54pm EDT

Allied Irish Banks, p.l.c. ("AIB") [NYSE:AIB] announces that following its announcement of 1st April 2011 confirming completion of the disposal of AIB's 70.36% stake in Bank Zachodni WBK S.A. ("BZWBK") to Banco Santander S.A. and the sale of its 50% stake in BZ WBK AIB Asset Management S.A, AIB has received a conversion notice from the National Pensions Reserve Fund Commission ("NPRFC") requiring AIB to convert into ordinary shares the 10,489,899,564 convertible non-voting shares ("CNV shares") issued to the NPRFC in connection with the December 2010 €3.7 billion (net of expenses) investment by the NPRFC in AIB.

As announced on 23 December 2010, the CNV shares were issued to facilitate the disposal of AIB's interests in BZWBK and the conversion of the CNV shares into ordinary shares on a one-for-one basis will result in the NPRFC increasing its shareholding of ordinary shares from 49.9% to 92.8% of the ordinary shares of AIB, representing 11,366,120,185 ordinary shares. Following the conversion, AIB will have a total number of 12,245,852,712 ordinary shares in issue.

[db]

I beleive it is critical to study the weekly chart when evaluating this stock.

Althought the major averages are all pointing down, a candle reversal signal has identified itself. If this weeks candle closes positive, it will confirm a major reversal signal.

[invest2win]

As they say take profit ASAP. I really don't see this moving higher without any significant news.

[Blckcat5000]

Just sold my position at $4.15 from $2.85 and $3.60. So, that's good gains. Out at 2.22 for ire. Till next week. good luck to all!

[Blckcat5000]

Not sure where AIB is going to find 13bil Euros in capital before the next strest test, maybe EU? Perhaps rising stock prices will help secure capital. Lets hope they are simply too big to fail. In the end, IRE/AIB may be doomed if IRE collapses, my advice, set up ur stop-loss orders, don't hold overnight if your uncomfortable with that. That is if your intra-day trading. If your using puts/calls then u may envoke a different strategy.

[invest2win]

A bidding war is usually good for the stock price depending on which companies are bidding. A couple of good rumors would help also. I guess today's trading will be a good indication. Plenty of chatter on this that's for sure.

[primarywatcher]

Any thoughts here?

Swiss asset manager Bellevue Group and Irish stockbroking firm Bloxham were among the bidders for AIBIM and may now renew their interest in the business, the Irish Times reported on Friday.

Uncertainty here could increase potential speculation for bidding war?

[Blckcat5000]

Definitely an uphill battle, as we've seen for last 30 months. Premarket levels are flat, let's see how the day unfolds. I'm thinking we'll be alright. Still AIB up 67% from last friday, IMO close of business 2day. start again nxt week

[invest2win]

Irish Life pulls bid for AIB's asset management arm

http://www.reuters.com/article/2011/04/08/irishlife-idUSLDE7370BD20110408?feedType=RSS&feedName=financialsSector&rpc=43

[Blckcat5000]

I believe Ireland is trying to prevent their entire banking sector from being nationalized. I don't have a crystal ball, but this week has been great for short gains. These stocks aren't in my long portfolio, just doing intra-day trading usually. Just trading based on trends within a trading day or week. In that regards you can't deny the upside when it moves. Good luck to all!

[invest2win]

European Banks Inch Closer to Stability
Date : 04/08/2011 @ 8:16AM
Source : MarketWire
Stock : The Bedford Report (AIB)
Quote : 4.34 0.0 (0.00%) @ 8:24AM

European Banks Inch Closer to Stability
Allied Irish (NYSE:AIB)
Intraday Stock Chart
Today : Friday 8 April 2011


After failing to uncover much of the extent of financial turmoil for banks in Ireland, European banking regulators are attempting to toughen stress tests on foreign lenders this year. The European Banking Authority (EBA) recently announced which types of capital it will accept and how much a bank must hold to pass the test. Last year, the European Union stress tests were criticized for not being stringent enough because lenders in the 27-nation region were shown by regulators to need only 3.5 billion Euros of new capital. The Bedford Report examines the outlook for Foreign Banks and provides research reports on Allied Irish Banks PLC (NYSE: AIB) and Lloyd's Banking Group PLC (NYSE: LYG). Access to the full company reports can be found at:
www.bedfordreport.com/2011-04-AIB

www.bedfordreport.com/2011-04-LYG

Earlier this week, Chairman Andrea Enria announced that the EBA will submit a definition of core capital valid for all banks in Europe and implement single supervision rules that are applied the same way across countries. Enria argues that the EU "can no longer live with 27 definitions of capital." If a country has less secure core capital, pressure on other nations would make them behave in the same way in order to ensure that their banks wouldn't be disadvantaged.

The Bedford Report releases regular market updates on International Markets so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

Irish Banking stocks have moved higher in recent weeks after the Irish government announced plans for radically restructuring the banking sector by creating two major banks. Shares of Allied Irish Banks surged as much as 20 percent last week after The Central Bank of Ireland made the recommendation to pump an additional $34 billion into its banking sector as it again attempts to bring its three-year financial crisis to an end. The cash will come from Ireland's emergency EU-IMF credit line and adds to EUR 46.3B that the state has already pumped in.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer

Contact:

The Bedford Report

Email Contact

[primarywatcher]

Blckcat...

My apologies, but I don't understand a lick of sense in that last post. On what grounds, D&D, technical or recent news supports this will hit above $4.62?

inquiring minds want to know.

IMO, I'm waiting on sidelines for:

1. Some semblance of stability and security both IRE and AIB will not be diluted to kingdom come;
2. News regarding a potential reduction in interest rate from EU bailout; and,
3. VOLUME INCREASE, at least

---------------

Re: IRE post, it was deleted because it was primarily off topic. Best to post information specific to individual stocks on their respective threads. Thx! and GLTY!!

[Blckcat5000]

March 31 - Aprl 1 showed it's largest gains. I bought in a $2.85 and $3.60. One day it got as high as $4.94, but I didn't pull the trigger. Sitting on $3.60/share. Sell point $4.62, then re-evaluate. Hoping to hit that today.

[invest2win]

Is this stock ever going anywhere? It's been a real dud the last couple of days.Some movement would be good. I'm tired of staring @ 4.27

[Blckcat5000]

I thought I left a post at IRE with some positions, maybe it was removed. I got ur message on DBLE, thanks for that

[primarywatcher]

Blckcat,

http://investorshub.advfn.com/boards/board.aspx?board_id=18043

REQUEST moderators remove this post for off topic

[Blckcat5000]

Well AIB made a small push at end of trading session, this second earthquake in Japan and possibility of future nuclear falloff has definitely affected the market. The rising price of oil hasn't helped several sectors of the trading market. Here's an intersting stock I've been following. DBLE. Double Eagle's Oil and Natural Gas. Currently trading at 11.29/share. Up 22.85% yesterday. The company has posted "implied" futures of $18.75-$56.34/share if a discovery is found in there Niobrare Acreage pipeline. Grantid these futures are posted by the company, but the exploration is domestic (NOT over in China where CFO's are resigning like hotcakes)... quite sad actually. You may be able to short DBLE and make some nice gains. Goind to watch b4 I commit. Also, I'm prob going to close all short positions with the gov't lockout looming. Not sure how it will effect the market, but I'd rather sit back and watch this weekend, rather than wake up monday morning and be out considerable gains.

Nothing new with AIB/IRE, other than a bailout would be preferred over nationalizing. I believe they received 35Bil Euros already, lets just hope Europe's core won't let the periphery fail. I lost big on these banks in 2008-2009, so I'd like to recovery my losses. This current week was very nice!

[primarywatcher]

LIVE VIDEO ECB Press Conference:
http://www.rte.ie/player/#l=7

[mlkrborn]

ALBK: 0.30 vs BKIR: 0.32 euros..

[invest2win]

Thanks! Looks good so far PM trading.

[primarywatcher]

great info, thx Blckcat!! do we have any links associated with live video?

Hoping there's live, stream video access to those meetings....

[Blckcat5000]

Today the ECB makes their rate decision scheduled for 13:45 CET (04:45 PST), conference scheduled for 14:30 (05:30 PST), so we'll see how that affects the EU banks and global economy. Be sure to watch Pre-Market volumes