Lloyds Banking Group PLC (LSE:LLOY) has seen its share price target bumped lower by Goldman Sachs analysts as uncertainty around motor finance mis-selling continues to loom.
Despite news this week that the Supreme Court would hear an appeal against cases around hidden commissions in motor finance deals, Goldman said it was unclear how the issues would play out.
Alarm bells over the prospect of recession have been raised after the UK economy faced another month of contraction in October.
Institute of Economic Affairs fellow Julian Jessop noted the drop “should put the UK firmly on recession watch”.
Close Brothers Group PLC (LSE:CBG) shares have rallied on the back news that the Supreme Court will review the decision against the lender in the landmark Hopcraft motor finance case, but Panmure Liberum thinks little has changed in reality.
“While this is marginally positive given it eliminates the small risk that the appeal would not be heard, the controversy and potential widespread ramifications around the initial ruling from the Court of Appeals meant the Supreme Court only really had one option when deciding whether the hear the case.”
Putting aside the ballyhoo surrounding Frasers Group PLC (LSE:FRAS)’s ongoing spat with Boohoo Group PLC (AIM:BOO)’s board, the high-street retailer is facing a number of issues that has led to a downgrade from broker Shore Capital.
Shore Cap moved the Sports Direct owner’s share rating from ‘buy’ to ‘hold’, reflecting concerns over declining revenues in some segments and increasing business complexities.
Today’s £10.5 million fine given to Royal Mail from communications regulator Ofcom has done no favours for the International Distribution Services PLC (LSE:IDS)-owned delivery service’s cashflow worries.
According to Peel Hunt analysts, Royal Mail is expected to suffer cash outflows in both the 2025 and 2026 financial years.
FTSE 250-listed wealth manager St James's Place PLC (LSE:STJ) added 4% to its share price on Friday, aligning with a share rating upgrade from Deutsche Bank.
“We have identified new information and produced some further analysis which we believe is relevant to both the ongoing advice issue and the new charging structure,” said Deutsche analyst David McCann.