to a degree you need to ignore the level of the FTSE since has many international companies whose share prices need to adjust back to flat in dollar terms - so the 10% drop in Sterling is giving everything a boost.
Meanwhile there are so many stocks which have been smashed which are still in the early stages of recovery.
Lloyds IMO should recover to low 60s quite quickly - rationale is it is pricing in a drop in rates which I don't believe will be necessary or will happen, and secondly the earnings downgrades which are coming through are not that large respective to the fall in the share price - so a nice recovery is inevitable
I feel that Lloyd's will be closer to 60p and will gain tomorrow as other banks stall! I will not be buying or selling just keeping a good eye on my holding. Try and keep the faith-reporting in 4 weeks.
Thursday 23/06/16 Sp was 72.15p Friday 24/06/16 Sp dropped to .55.39P high of 60.20 closed around 54.12p Monday 27/06/16 low of 51.19p high 54.95 Tuesday 28/06/16 high of 55.97p low of 53.71p wed today 29/06/16 p.close 54.95p open 55.95p high of 57.09 low of 54.79 17.00hrs buy at 55.53 re H/L UP 0.57P 1.04% FTSE 100 CLOSED UP 219.67 3.58% AT 6360.06 DAYS COMPASSION Standard Chartered plc 557.3p positive +3.40%
Royal Bank of Scotland Group p 180.2p positive +3.68%
IMO it would be complete madness to cut the Divi. You just have to look what happened to the Barclays SP when they cut their divi earlier this year ! If Osório hasn't learnt from that example then he really should not be buying 100,000 shares just before cutting his own Dividend ! The better decision would of course be to maintain it or even slightly increase it . But what do I know. GLA
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