Anybody noticed the strong run in financials over the last 3 weeks or so. Started off by excellent results from Barclays (LON:BARC) and followed up by Lloyds Banking (LON:LLOY) two of the heavyweights and carried on by the nonlife insurers Conduit Holdings (LON:CRE) Lancashire Holdings (LON:LRE) Beazley (LON:BEZ) and others such as Aviva (LON:AV.) among them. And then to reinforce we get the proposed takeover of Virgin Money UK (LON:VMUK)
All these have been sleeping giants for too long with the so called challenger banks creeping up on them and valued at low levels and even Conduit Holdings (LON:CRE) joining in the act over the last 3 years since IPO.
what is noticeable is that over those 3 weeks is that the SP has continued to creep steadily upwards rather than a spurt follwed by a slump back. Is this a final realisation that these are undervalued and deserve attention or are institutions balancing their "must have growth" stocks with a bit of ballast and trusting that good times will continue for at least a year or more
disclosure - I hold all the above apart fromLancashire Holdings (LON:LRE)
Any thoughts
