The refurbished Bank of Scotland head office on “The Mound”, was formally opened by the Chancellor, Gordon Brown, at a gala reception on September 7, 2006.
Guido – I should probably have said the value of its shares fell 48% in after market pricing, or some similar gobbledygook. As your other commenters point out the issue of whether there is a futures “market” is philosophically moot. Unfortunately the words “futures market” were in a piece of paper printed off into my hands literally as the 5-strong team of makeup women and masseurs was prepping me for my live appearance and seconds before we went on air. The words “futures market” entered my brain while I was puzzling whether the 48% fall really mattered in such an illiquid market. But hey, guys: if you think I sound like a hysterical Trot, you should listen to McCain!
Fair enough. Guido is in no position to criticise someone for screwing up live on Newsnight…
He also said the Labour Party was finished. Not a bad speech.
Peston should have known that the disastrous HBOS rights issue in late July was priced at £2.75. The market shunned it with the underwriters getting stuffed and left holding two-thirds of the £4 billion offering. So why would Lloyds want to pay more than the price which was shunned two months ago when conditions have deteriorated? Doh! He now says it will be nearer to £2.
Peston needs to be careful that he doesn’t get accused of creating a false market. There are laws and a Stock Exchange Regulatory New Service for market moving news!
FTSE looks set to fall below the psychologically important 5000 level….
There are electronic markets where stocks trade after hours. Perhaps that is what he meant? With Newsnight’s market reporting you just never know.
Guido has yet to see a list of the “handful” of MPs who want a leadership election. So with the help of you co-conspirators shall we compile the list? Guido will start it off:
Add names and references in the comments.
A source close to the Scottish Secretary Des Browne has insisted that David Cairns, Minister of State at the Scotland Office, has “no intention of resigning”.
4 hours is […]
Tuesday 16 September 2008
For immediate use
Internal procedural debates will not divert the Labour Party from building a fairer Britain – NEC
The Labour Party National Executive Committee […]