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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“Banks have rebounded strongly since the dust settled on the fallout from the UK’s EU membership referendum. However, we see the risk as being more balanced over the next couple of quarters”
The blue-chip index finished the day above the 7,500 level
Barclays' shares took a spanking today, with the stock tumbling by almost 7%, chopping around £2bn from the bank’s market value
“We also believe that the group is well placed to increase DPS further to 5p in 2018 given its strong capital generation, which implies a yield of 7.4%”
Michael Hewson, chief market analyst at CMC Markets UK pointed out that, while leaving its PPI provisions unchanged, Lloyds increased its impairment provision in the third quarter to £270mln, which was slightly above what markets had been e
Laith Khalaf, senior analyst at Hargreaves Lansdown said: The blue chip lender is “not going to go anywhere particularly fast, but that does mean there’s less chance of a crash along the way”
Lloyds which has had a strong stretch of profit growth is facing mounting risks from its exposure to unsecured lending
Investments and investor services
The UK blue chip index closed down 1.05% to 7,447 as the pound strengthened after better-than-forecast UK GDP
Archive
PPI, the HBOS acquisition and now the prospect of a rate rise hitting the mortgage market; it's all a bit of a trial for Lloyds
Former Financial Services Authority chief Sir Hector Sants is due to give evidence in December
Around 4pm, the UK blue chip index was up about 8 points to 7,531
The week ahead includes third quarter earnings from Lloyds, Barclays and RBS along with trading updates from Shire, IAG and GSK
A look at some of the biggest risers and fallers today in London
About 6,000 shareholders are suing Lloyds over the ill-fated takeover of HBOS in 2008
The FTSE 100 index was less than a point higher at 7,523, well below the session peak of 7,560.04.
The first day of a London high court trial against Lloyds over its takeover of HBOS started today
Virgin Money expects to reach its target of £3bn in card card balances by the end of 2017 as consumer lending in the UK continues to boom
Lloyds said the deal will enhance its offering at its pensions business Scottish Widows
A look at some the biggest risers and fallers in London today
In a joint news conference held later in the day, Barnier admitted that some progress had been achieved on citizens' rights and Ireland's common travel area
