Company
LON:LLOY
Lloyds Banking Group has many household names like Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers. The Group’s main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. The Group operates the UK’s largest retail bank and has a large and diversified customer base.
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“Lower interest rate hike expectations, coupled with the fear that a no-deal Brexit could bring chaos to trade, are raising worries over the performance of UK banks going forward,” said IG market analyst Joshua Mahony
Female workers continue to march against discrimination in the workplace after a court ordered Lloyds to amend its pension schemes to make benefits equal for men and women
Sainsbury's continues to expect full-year underlying profit to meet market forecasts
Unions were understood to be discussing the changes with staff on Tuesday morning
“We must be one of the fastest growing banks in the UK right now," according to Des McDaid, managing director of Marcus.
All 48 lenders passed the European Banking Authority’s test that sought to identify any capital holes but Lloyds and Barclays were the unexpected laggards
FTSE 100 closed marginally higher but mid-cap cousin FTSE 250 plunged nearly ten points.
The FTSE 250 fared much better though, adding almost 154 points on the day to close at 19,325
Analysts still think BT's dividend yield looks robust after the company lowered its interim dividend
Consumers are relatively cautious in their borrowing while lenders have become warier about advancing unsecured credit, according to EY Item Club's Howard Archer
“Focus is on how quickly RBS can return surplus capital; we now factor special dividends in addition to directed buybacks,” Barclays said
The FTSE 100 closed strongly as it joined a global rebound off last weeks volatility, however the latest Budget did little to help matters along
The changes to the bank's pensions schemes, which will affect about 230,000 members, could cost bank between £100mln and £150mln.
Archive
Aside from the oil majors, the slew of blue-chip updates due in the coming week will include global banks HSBC and Standard Chartered, and drugs firms GlaxoSmithKlne and Shire
UBS sees better risk / reward at Lloyds, Barclays and RBS
“For long-term holders the depressed share price means there’s an attractive 6.4% dividend yield on offer, and a share buyback programme could deliver very attractive results long-term if all goes Lloyds’ way,” said Hargreaves Lansdown's Ni
“We remain on track to deliver the improved financial targets for 2018 that we announced in August, as well as all of our longer-term guidance,” said Lloyds boss Antonio Horta-Osorio.
At the close, the UK blue chip index was 41.12 points higher at 7,004.10, the session peak, and well above the early low of 6,995.99
Margins will be a key area of focus for investors assessing the third quarter results of Lloyds on Thursday
Archive
The day ahead includes third quarter trading updates from Lloyds and WPP along with full year results from Debenhams and the ECB's policy decision.
