Lloyds books additional PPI charge as third quarter profit misses estimates
28th Oct 2015 08:06
(ShareCast News) - Banking giant Lloyds Banking Group reported a decline in third quarter underlying profit after it was hit by a further charge for insurance mis-selling. In the three months to the end of September, the FTSE 100 group said its underlying profit declined 8.7% year-on-year to £1.97bn
Read moreUK bank sector lacking competition but CMA report falls short of major changes
22nd Oct 2015 07:51
(ShareCast News) - Consumers and small businesses are still suffering from a lack of competition in the UK banking sector, competition authorities said in a report on Thursday that called for banks to retain free bank accounts and making proposals to force banks to help customers to shop around for
Read moreBank of England sets GBP2.2bn retail bank ring-fencing requirement
15th Oct 2015 09:35
(ShareCast News) - Proposals by the Bank of England would require the UK's big banks to hold up to £3.3bn of capital under new ring-fencing rules designed to make their retail operations more resilient to potential market crashes. From 1 January 2019, banks with core deposits greater than £25bn from
Read moreLloyds chairman says no 'compelling' argument to stay in EU
14th Oct 2015 13:31
(ShareCast News) - Lloyds Banking Group's chairman said there was not any "compelling" argument for Britain to stay in the European Union unless there was a significant reform to the relationship. Lord Blackwell, a former head of the policy unit of Prime Ministers Margaret Thatcher and John Major, o
Read moreTuesday broker round-up
13th Oct 2015 09:49
(ShareCast News) - Ladbrokes: Citigroup upgrades to neutral, raises target price to 110.00p. Jupiter Fund Management: RBC Capital Markets upgrades to outperform, bumps up target price to 475.00p. Jefferies reiterates to buy, lifts target price to 493.00p. Glaxosmithkline: JP Morgan Cazenove upgrade
Read moreSunday share tips: Imperial Innovations, Lloyds
11th Oct 2015 14:46
(ShareCast News) - Imperial Innovations has invested £198m in dozens of companies since its foundation, in 1986. Despite some rare successes, such as with biotech outfit Circassia, overall the company has shown little ambition, preferring to invest in small and immature outfits. That is unlike its U
Read moreLondon midday: Rally in mining stocks boost equities
9th Oct 2015 11:13
(ShareCast News) - The FTSE advanced on Friday at midday, driven by a rally in mining stocks as metal prices rose. Glencore led mining shares higher as investors welcomed its decision to cut 500,000 tonnes or around a third of its annual zinc production as it looks to combat declining prices. "This
Read moreLondon open: Stocks rise after BoE, ECB and Fed meeting minutes
9th Oct 2015 08:35
(ShareCast News) - London stocks were in positive territory on Friday as investors continued to analyse policy meeting minutes from the Bank of England, European Central Bank and the Federal Reserve. The BoE on Thursday voted 8-1 to maintain rates at 0.50% and its asset purchase programme at £375bn,
Read moreUK government trims Lloyds stake to just under 11%
9th Oct 2015 07:32
(ShareCast News) - The UK government has cut its stake in Lloyds Banking Group by a further 1% to just under 11%. Earlier this week, it emerged that the finance ministry will sell at least £2bn worth of Lloyds shares to private retail investors in the spring of next year as it looks to return the ba
Read moreTuesday newspaper share tips: What to make of the Lloyds share offer
6th Oct 2015 11:18
(ShareCast News) - The government's share offer of Lloyds Banking Group shares may seem attractive with a 5% discount off the market price and a promise of bonus shares. But what did the newspaper pundits make of the deal? The Times' Tempus in its special report thinks it looks promising and suggest
Read moreStrong response to Lloyds share offer on first day
6th Oct 2015 10:46
(ShareCast News) - Treasury sources have revealed 62,500 people have registered their interest in the government's Lloyds Banking Group share offer, Sky News reported. The government is looking to sell the remainder of its stake in the bank it bailed out in 2008. It still owns a 13% stake and said
Read moreLondon close: Stocks end higher despite negative services data
5th Oct 2015 16:03
(ShareCast News) - UK stocks gained as the market proved resilient against a batch of negative services data on hopes the Federal Reserve will keep interest rates unchanged for longer. The Markit/CIPS UK services purchasing managers' index fell to 53.3 in September from 55.6 in August, compared to a
Read moreBroker tips: Barclays, Lloyds, Rio Tinto, Glencore, BHP Billiton
5th Oct 2015 15:56
(ShareCast News) - The FCA´s move on Friday to draw a line under the Payment Protection Insurance scandal is positive overall for the industry, with Lloyds likely to be the most favourably impacted, followed by Barclays, according to JP Morgan. Furthermore, analysts Raul Sinha and Vivek Gautam highl
Read moreJP Morgan stays at overweight on Lloyds and Barclays
5th Oct 2015 15:26
(ShareCast News) - The FCA´s move on Friday to draw a line under the Payment Protection Insurance scandal is positive overall for the industry, with Lloyds likely to be the most favourably impacted, followed by Barclays, according to JP Morgan. Furthermore, analysts Raul Sinha and Vivek Gautam highl
Read moreInvestec reiterates buy and 86p target on Lloyds
5th Oct 2015 14:47
(ShareCast News) - The UK government confirmed it would continue to forge ahead with the re-privatisation of Lloyds via a retail sale of at least 2bn pounds in spring 2016, news which should please investors, Investec said. That amount is slightly less than expected. Nonetheless, the government has
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