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Paul Laverty (pictured), Head of Business Development Ireland with online broker DEGIRO, discusses some of the key stock market trends this month
SHARES CONSOLIDATION Bank of Ireland, the single most traded stock by DEGIRO’s Irish clients, is set to consolidate the number of outstanding shares by 97%. The company is planning a corporate reorganisation that will convert current holdings into a holding company this summer.
Currently, Bank of Ireland has over 32 billion shares outstanding, trading at just under €0.25 per share. The huge number of shares currently in issue reflects the capital injections by the state and others to bail out the bank after the 2008 financial crisis. Shareholders will receive one new share in Bank of Ireland Group plc for each 30 shares held. The move will bring the share price to around €7.50 based on current price levels.
TESLA SURGE Electric car company Tesla has seen its stock surging lately. Tesla listed on the Nasdaq in 2010 below $20 per share and currently the stock is trading over $300. However, many market analysts believe that the stock is currently overrated. The recent price gains are due in part to short sellers finally caving in and closing their positions at a loss.
TALKING TURKEY As Turkish President Erdogan celebrates gaining sweeping new powers after Turkey’s referendum, investors seem to be celebrating with him. Turkish stocks, bonds, and the Lira all rallied on the news.
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Erdogan has a good track record with businesses. Since he took office as Turkey’s prime minister in 2003, the Borsa Istanbul 100 index is up 760%. However, there has been a more than 50% devaluation of the Lira during the same period.
About DEGIRO
Offering fees on average 95% lower than competitors, DEGIRO clients trade with the lowest share dealing costs in Ireland. With low transaction costs, no minimums, and no annual or custodian charges, we don’t consider DEGIRO to be the cheaper alternative to investing so much as we see our competitors being needlessly expensive. Clients of DEGIRO have access to over 60 markets across the world, can trade 700 ETFs commission free, and now have free real-time price feeds to US stocks. Additionally, clients in Ireland now pay no commission fee to invest across investment funds.
Originally from The Netherlands, DEGIRO started as an institutional broker in 2008 and began offering services to retail clients in 2013. DEGIRO is now one of the ten largest brokers in Europe and has won broker awards from the Financial Times and Investors Chronicle (UK), Beleggers Belangen (Netherlands), Investir (France), and Handelsblatt (Germany).
For more information:
www.degiro.ie
clients@degiro.ie
+353 1 513 4951
