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FIVE at FIVE: Lloyds share buyback; ASOS a potential target; Bitcoin mining difficulty at all-time high; M&S shares plunge

Last updated: 17:00 12 Oct 2022 BST, First published: 16:59 12 Oct 2022 BST

Five at Five

1. Lloyds completes share buyback with very different outlook

Proposed along with a final dividend, the FTSE 100 lender said at the time that it expected the buyback to be complete by the end of the year, with the outlook from chief executive Charlie Nunn at the time being that "we are seeing an early recovery and the macroeconomic outlook is improving".

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2. ASOS a potential bid target as pound slides, reckons Shore Capital

Ahead of the online fashion retailers’ full-year results released next Wednesday, Clive Black noted the weak pound could pique foreign interest.

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3. Bitcoin mining difficulty just reached an all-time high… Why does it matter?

A flooded market for cheap bitcoin mining rigs means miners are likely snapping up new rigs in bulk, thus deflating net mining rewards. It’s s self-destructive prophecy.

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4. FTSE 100 closes in red

On Wednesday, the UK's top share index finished the day down 59 points, or 0.86%, at 6,826.  

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5. Shares in Marks and Spencer Group PLC (LSE:MKS) shares drop as it warns on rising costs

In a presentation to institutional investors, M&S said it would cut the number of large clothing and homewares stores by 67 by 2028 to take the total to 180.

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Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

1 hour, 52 minutes ago