we seem to be doing very nicely. If only the Euro was a little stronger. If it was 5 cents more we would be safely over 15. - 25 cents more, and we would be nearing 18
With the late news on Friday about the settlement with Greece, ING should do nicely on Monday. Look for it to be pushing 13 euros and $15.
I know that I said that Greece wasn't a big deal, but it will still give it a nice push. Settlement of the Russian issues in the long term is more important. Greece is 2% of the European economy. Russia has much more of an effect.
And I would suggest that ING has behaved very nicely with the headwinds of Greece and Russia. Maybe its the suggestion of negative interest rates in Europe, and the issuance of ING dividends. With continue progress, we could be in the upper teens by the end of the year.
And, although today the US market is closed, overseas ING seems to be stretching its winning streak. It was over 12.50 euros at one point. Its strength is comforting. If we can merely see this price stabilize and a euro in the mid 1.20's, we will begin to push toward 16.
Well, we broke that initial level nicely. And, to my surprise, it is up nicely overseas to 12.30 + euros, which is a new high. I thought yesterday's "breakout" would have eased a little. Maybe there was good euro economic news, or the spread of "negative" interest rate in Europe is making ING and its new dividend more desirable.
I have a "hope" that we will see 18 this year, and the 20's next.
Tomorrow will be a tough day. It closed here at 13.75, while it closed overseas at 12 euros - the later translates into 13.68, so ING has to open overseas stronger than it closed on a very nice day.
But maybe the Binckbank ADHD people will buy ING tomorrow.
It's not so much Greece, as it is Russia and the general European economy.
If Russia can settle down, and the European economy improves, then you will see two things. Three things - first, settlement of the Russian controversy and greece will give stability (which is what you are seeing today regarding Russia). Second, the economy improvement will move ING up. And third, you will see a rise in the euro. If the Euro was merely 1.3, you would see a price pushing 16.
NO forgiving of their debt they owe to the EU!!!
They are already BK, but can't file that the money is "forgiven" - so let it stand and they can't get any further in the hole as they are already! Threaten them to shut down their tourist industry is they fail to comply!
Final repayment of state aid took place in November 2014
Assuming net result of 3.5-4B EUR in 2015 thus 40% payout will result in app.3.2%-3.5% yield at current stock price.
ING has paid no dividends for at least 6 years and will not until it has repaid its Detch debt which may occur next year. Losses on Russian loans will only delay the return to dividends to shareholders.