Lloyds looking to dispose of Irish CRE portfolio
9th Mar 2015 11:13
Lloyds Banking Group is looking to dispose of its entire residual Irish CRE portfolio, according to reports in Ireland. "As of the end of 2014, the gross exposure on the portfolio was £1.8bn against £1.4bn provisions, meaning any price in excess of 23p in the pound should trigger further provision w
Read moreGovernment brings stake in Lloyds under 23%
9th Mar 2015 08:34
The British government has sold £500m worth of shares in Lloyds Banking Group, bringing its stake in the bank down from 40% to 22.8%. The sale brings the amount of money raised through HM Treasury's trading plan in the lender to over £1bn. The Treasury said that the scheme, introduced in December,
Read moreSector movers: StanChart and Barclays give banks a boost
4th Mar 2015 14:53
Decent gains from the likes of Standard Chartered and Barclays drove the UK banking sector higher on Wednesday. Emerging markets-focused lender Standard Chartered was rising 4.3% in afternoon trade despite announcing that adjusted pre-tax profits in 2014 dropped 25% to $5.2bn as operating income fel
Read moreLondon close: Stocks inch lower as US data comes in mixed
27th Feb 2015 16:43
Despite setting a new intraday record just before the close, the FTSE 100 finished just a few points lower on Friday as investors took profits after a batch of mixed economic data from the States. The Footsie ended the session down 3.07 points at 6,946.66, down just 0.04% from the all-time closing h
Read moreSector movers: Lloyds and StanChart gain but banking sector edges lower
27th Feb 2015 15:14
The UK banking sector was slightly lower on Friday as well-received results from Lloyds and decent gains from Standard Chartered were offset by falls in the share prices of RBS, HSBC and Barclays. The sector was down around 0.5% on average. UK lender Lloyds was trading 1.1% higher despite 2014 resu
Read moreLondon midday: FTSE flat on mixed earnings as Germany approves Greek extension
27th Feb 2015 11:50
UK stocks touched a new intraday record on Friday before slipping into the red, as investors treaded carefully on another busy day for corporate earnings and economic data. The FTSE 100 reached a new high of 6,960.00 early on, surpassing the previous intraday record reached on Tuesday, but had erase
Read moreBroker tips: Lloyds, RBS, Rightmove
27th Feb 2015 11:37
Shares in banking group Lloyds edged higher on Friday after shareholders celebrated their first dividend payment in six years, though weaker-than-expected results prompted Shore Capital to retain a 'hold' rating on the stock. The broker said: "Based on last night's closing price of 78.5p, the shares
Read moreShoreCap keeps 'hold' on Lloyds after mixed 2014 results
27th Feb 2015 09:47
Shares in banking group Lloyds edged higher on Friday after shareholders celebrated their first dividend payment in six years, though weaker-than-expected results prompted Shore Capital to retain a 'hold' rating on the stock. "The main news is that the company has finally resumed dividend payments t
Read moreLondon open: Stocks flat early on ahead of German vote and economic data
27th Feb 2015 08:27
Strong gains from Lloyds, IAG and Old Mutual were not enough to lift markets on Friday as UK stocks held steady near record levels. The FTSE 100 was trading 0.07% lower at 6,945.11, after having settled at an all-time closing high of 6,949.73 on Thursday. Markets were directionless early on ahead o
Read moreLloyds Banking Group resurrects dividend as profits surge but miss forecasts
27th Feb 2015 07:21
Lloyds Banking Group has resumed payment of its dividend after six years with a small payment of 0.75p as its balance sheet grew more solid, though full year profits fell short of market forecasts. Underlying profits surged 26% to £7.8bn, broadly in line with consensus analyst estimates, as income e
Read moreLondon pre-open: Markets subdued ahead of data, German vote on Greece
27th Feb 2015 07:19
UK stocks were expected to open more or less flat on Friday after markets eked out another record close the previous session. Investors were likely to take a cautious approach ahead of a batch of economic data and a decision in German parliament on whether or not to approve Greece's bailout extensio
Read moreFriday preview: Lloyds hopes to recommence dividend as it reports full-year results
26th Feb 2015 15:51
Lloyds Banking Group is expected on Friday to announce its first dividend payment since its near-collapse in 2008 in its full-year results statement. The bank is waiting for the Prudential Regulation Authority to approve the resumption of a dividend. Analysts forecast a 1p per share dividend increas
Read moreLondon close: HSBC dampens sentiment as investors wait on Greek news
23rd Feb 2015 16:30
A plunge in the share price of HSBC, falling commodity stocks and a lack of news regarding Greece ensured that UK equity markets remained in the red on Monday, with investors cautious with shares near all-time highs. HSBC dropped nearly 5% after the global lender missed forecasts with a sharp drop i
Read moreSector movers: Banking sector falls as HSBC disappointment offsets gains elsewhere
23rd Feb 2015 14:56
A 5% drop in the share price of HSBC pushed the banking sector firmly into the red on Monday even though shares of other lenders were making gains. Lloyds and RBS were still in positive territory in afternoon trade and Barclays was more or less flat, but given HSBC's size the whole sector was regis
Read moreMorgan Stanley picks Lloyds and Barclays as banks play "catch up"
20th Feb 2015 15:53
Morgan Stanley thinks European banks might now "start to play catch up" after an unusual period of underperformance in an improving macroeconomic environment. Although Greek concerns remain, the US investment bank believes some concerns about the banking sector are easing, such as deflationary risks
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