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Old 05-20-2009, 08:56 AM   Nav to Top  #1
illinoisweber
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Default Deutsche Bank Upgrades Bank of Ireland (IRE) to Buy

Irish eyes are smiling on IRE today as DB upgrades it to a buy. I have been watching this stock for a few days, and it looks similar to RBS. That is it is on the up. I bought in the premarket, and it may take a hit at the open, but believe this stock has legs. I look at it as safe long for sure, and maybe a quick gainer for today. It is at near 8.20 right now, with a 52 week high of 54.67. Here is the DB link. StreetInsider.com - Deutsche Bank Upgrades Bank of Ireland (IRE) to Buy

Google Summery

Bank of Ireland provides a range of banking and other financial services. These include checking and deposit services, overdrafts, term loans, mortgages, business and corporate lending, international asset financing, leasing, installment credit, debt factoring, foreign exchange facilities, interest and exchange rate hedging instruments, executor, trustee, life assurance and pension and investment fund management, fund administration and custodial services and financial advisory services, including mergers and acquisitions and underwriting. The Company organizes its businesses into Retail Republic of Ireland, Bank of Ireland Life, Capital Markets, UK Financial Services and Group Centre. It has operations throughout Ireland, the United Kingdom, Europe and the United States.

You might want to watch AIB, another Irish bank today as it should feed off of IRE's steam.

Good Luck All, RW
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Old 05-20-2009, 09:02 AM   Nav to Top  #2
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Default caution

I would just voice a word of caution:

When the bankers say to buy, it may just be because they want to unload some shares that they've been accumulating at very low levels.

I've been holding AIB for some time, and it trades in parallel with IRE. Both are good long positions, IMO, but if you're opening a new position, I would strongly recommend setting your stop-loss order within an acceptable risk level, as these beasts trade in a violent/volatile way.

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Old 05-20-2009, 09:05 AM   Nav to Top  #3
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Default

Bank of Ireland announces tender offer
Tuesday, May 19, 2009
Bank of Ireland’s subsidiary, BOI Capital Holdings, announced today
that it is inviting holders of four securities to tender them for
cash, listed below. BOI Capital will determine the purchase price of
each series of securities through a modified Dutch auction procedure:

€600 million 7.4% guaranteed callable perpetual preferred securities
€600 million fixed rate/variable rate guranteed perpetual preferred
securities
£350 million ($541 million) 6.25% guaranteed callable perpetual
preferred securities
£500 million ($773 million) fixed rate/floating rate guaranteed
perpetual preferred securities

Additionally, BOI Capital is inviting holders of US dollar-denominated
securities to sell them for cash. The early participation date is 2
June, and the expiration date is set to 16 June at 5pm New York time.
Announcement of the clearing price will be made on 17 June at around
9am New York time, and settlement is scheduled to follow on 19 June.
The applicable securities are as follows:

$800 million fixed/floating rate guaranteed perpetual preferred
securities
$400 million fixed floating rate guaranteed perpetual preferred
securities
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Old 05-26-2009, 01:54 AM   Nav to Top  #4
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Default BoI agrees new terms on €6 billion overdue loans

Sunday Business Post | Irish Business News

More good news, then. Hopefully the price will rise a couple % today on those news.

I have been very lucky with banks, recently. Irish banks, too. Only HBAN was disappointing in the last week or so, but then I don't expect it to stay around $4 much longer, it's going to go back up IMHO.

Making $80 on a $100 investment, after paying the broker almost $20 - gee whiz, and I've been wasting my time for a year+ with CDs. Well, maybe that's for the better -- missed on all the sharp drops!
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Old 05-27-2009, 10:58 AM   Nav to Top  #5
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Default 8.91 :)

And it's back well into the green today. I'll sell at $10, which I hope to happen within a month or so. The markets seem to be loosing volatility, but the GM fallout will shake things up I bet.
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