What a 72 hours on the stock market. Despite the turmoil and despite the year long decline I never though HBOS would be hammered as it was since Monday morning.
The chart above shows today’s activity alone. How many people made a killing on HBOS today? How many made a killing that helped to manufacture the situation. Something stinks about this really.
So it looks like a Lloyds TSB takeover of HBOS. It will no doubt be dressed as a merger but it’s anything but, no? Be interesting to see what affect it has on HBOS services as I use it for some of my accounts. Which bank next? Are mergers the way forward for the next six months?
Which bank next? A&L have already been given away to Santander. I’d say RBS look shaky. Them agreeing to go ahead with the ABN Amro takeover last year was a travesty. They’ve all but agreed it was the wrong deal at the wrong time for the wrong price, and it severely weakened them.