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Lloyds, Barclays, RBS, GSK and Shire kick off earnings season for banks and pharmas
The week ahead in includes updates from Lloyds, Barclays, RBS, Shire, GSK, Whitbread, Persimmon and Shell
Company
Lloyds Banking Group PLC
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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FTSE 100 closes in the black as Shire surges; tobacco stocks drift lower
Shire shares ended 5.89% up as the group received and rejected a takeover approach from Japan's Takeda Pharma
Investments and investor services
Unilever, Debenhams and Rentokil Initial in the spotlight as updates loom
Thursday looks a pretty busy day for investors with a number of important updates due.
Lloyds to close 49 branches, cut 305 jobs in UK
Lloyds said the branch and job cuts are part of its plans to focus on improving its digital offering
Archive
High street issues to the fore as Debenhams, JD Sports, and Primark owner AB Foods provide updates
Week Ahead includes trading statements from Primark owner Associated British Foods, Debenhams, and JD Sports, plus Q1 numbers from Unilever, Reckitt Benckiser and Rentokil Initial
Archive
FTSE 100 closes modestly higher as Syrian fears recede
After an up-and-down day, the FTSE 100 finished in positive territory after a late surge
Deutsche Bank trims targets for Lloyds, RBS, HSBC in preview of upcoming first-quarter results
The German’s bank’s analysts said they expect margin pressures will remain the main area of focus for the UK domestic lenders, amidst clear signs of competitive pressure on mortgage pricing
Credit Suisse ups estimates for Lloyds Banking Group, says continues to be its preferred UK lender
Credit Suisse’s analysts said they had raised their earnings per share forecasts for Lloyds’ by 1%, 4%, 6%, respectively, for the period between 2018 and 2020, pointing to the bank’s improved loan impairment guidance
FTSE 100 closes positively, just, but miners weigh
The blue-chip benchmark closed up around three points at 7,034, with the big cap miners lagging
Virgin Money and Standard Life Aberdeen investment arm form asset management services joint venture
Aberdeen Standard Investments (ASI) will buy 50% of Virgin Money Unit Trust Managers for an upfront payment of £40mln, with the deal due to complete at the end of 2018
Barclays Capital initiates coverage of major UK banks with a preference for new top pick, Lloyds
In a note to clients, BarCap’s analysts said they had started Lloyd’s with an ‘overweight’ rating and a 90p price target, and RBS also with an ‘overweight’ and 310p target price
Deutsche Bank trims target price for Lloyds to 80p from 83p, retains ‘buy’ rating
The German bank's analysts think Lloyds’ 2020 targets imply earnings per share of 8.5p, which would put the bank on 8 times target earnings, against the sector average estimate of 9.6 times.
Standard Life Aberdeen expected to raise capital returns after life assurance sale
Deutsche Bank raised its rating on the stock to 'buy' from 'hold' and lifted the target price to 440p from 410p
Archive
Standard Chartered to take the bow for banking results, as Persimmon starts for the housebuilders
Day ahead includes a welter of blue chip results from the likes of Standard Chartered PLC, Persimmon PLC, Direct Line Group, and GKN PLC
Standard Life Aberdeen seals £3.24bn life assurance sale to Phoenix a week after Lloyds funds withdrawal blow
The deal will see the FTSE 100-listed firm get a cash payment of £2.28bn and new shares in Phoenix equivalent to a 19.9% stake in the FTSE 250-listed firm
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Blue chip banking finale due on Friday with full-year numbers from Royal Bank of Scotland
Day ahead includes full-year numbers from FTSE 100-listed Royal Bank of Scotland Group PLC, Standard Life Aberdeen PLC, Pearson PLC, and FTSE 250 bookmaker William Hill PLC
Investments and investor services
FTSE 100 closes in red, despite US market turnaround
In London, the FTSE 100 closed down around 29 points at 7,252
Lloyds serves up 'tasty' dividend yield but analysts wary of economic downturn
"A shock to the domestic economy would be keenly felt by the bank," said Hargreaves Lansdown's Laith Khalaf
Lloyds hikes dividend and unveils £1bn buyback as profits jump but miss forecasts
Lloyds reported its highest pre-tax profit since 2006 but it fell short of market forecasts