HMG manipulating this share for their own benefit i.e. G.E next year. They have made a mistake or have they! Ok, they have binned the public offering, but that was always going to be a gamble. All the conditions for Lloyds to reinstate the dividend are met. ( They wouldn't apply to the PRA if they weren't). As others have mentioned on here, some institutions are precluded from investing in Lloyds because of the absence of a divi. On more than one occasion, in fact i'm sick of hearing it. The board have said the are applying in the second half of the year to reinstate the dividend. I think they would look really incompetent if that didn't happen.
Looking at last years rise into the eighties on expectation of the dividend, I think we can look forward to seeing those figures again pretty soon.
So have HMG got it right?
Maybe they have. They will be able to offload the remaining shares at a profit and claim they have saved the country and got all the Tax payers money back with profit.
A bright morning here on Kent Coast. LLOY is not going to do much for the time being.Any good news or bad news will have some predictable swing.The two major events that I keep looking for : Any hint of PRAs green signal to allow Div payment and HMG decision on how they are going to proceed with next sale to the Institutional investors.A random large discounted sale large lots to IIs would be a blow to this share.A planned sale of small lots (10% each of what is left) over a period of 18-24 months would help the market to digest and assimilate the shares with least detriment to SP.Let us hope that Mr Osborne is on our side Any confirmation of PRA approval should see this share creep back to 79p ish. GLA
"A European Commission plan to separate lenders’ consumer and investment-banking arms must be halted, said KPMG, auditor to some of Europe’s largest banks.
Proposals to harmonize rules for bank structure across the 28-nation European Union “should be shelved,” the accounting firm said today in an e-mailed statement.
The plans “will not add significant value alongside other regulatory reforms,” KPMG said, while countries including the U.K., France and Germany are already pursuing their own requirements on separating lenders’ trading and deposit-taking units." (Reuters)
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