Lloyds Banking Group, produced by the merger of Lloyds TSB and the Halifax banking group HBOS, is the biggest ever UK bank. The combined group, with around 145,000 staff and 3,000 branches, will control around a third of UK's mortgages and a quarter of all savings. The government owns 43.4% of Lloyds Banking Group, 36% are owned by Lloyds TSB shareholders and 20% by HBOS shareholders.
Could see 70-72p next week. Now, would that be a value buy in price?
Let us pray
re TSB floatation, HMG sell off & LBG SP God, grant me the serenity to accept the things I cannot change, The courage to change the things I can, And wisdom to know the difference.
Establishing a new range
This share is establishing a new range now in my opinion, trading between 70-74.9p and 75p represents the upper resistance until the shambolic government sell-off is over. I for one hope the electorate wake up to the fact that this govt. have robbed us all of billions in their desperation to free up a bit of cash for a nice surprise or two prior to the election by undervaluing Lloyds. Shocking! The massive selling on Thursday is bound to cause a retrace next week. Sell now and buy back at 70p.
I despair over TSB. So Lloyds packages up all its flotsam and jetsam of legacy branches and plans an IPO to address some bizarre Euro dictum. I really hope the offering bombs; it would fire a warning shot across Millipede’s bow showing how unappealing broken up Banks are to the stock market. But the IPO prospectus should make interesting reading.
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