Could it be that charts are ok for fine-tuning (buying in the dips) but not for longer term predictions, just as weather charts are ok for predicting tomorrow's weather but not next week's. I'm talkin chaos theory again. Suppose temperature is predicted to fall to 'around zero'. If it falls to a little above the consequences are dramatically different from a fall to a little below. Because the slight difference has massive consequences forecasting is au depart on shaky ground. By the way Great Aunt Edith is smiling - she bought 1.00 shares at around 75p a few weeks ago.
... Just, but slips down again. Still, even if we don't hit 79p today, this has felt like the best day in weeks because it doesn't feel like a brief fluctuation upwards, it feels like we're finally starting to pull out of the 70s...
Just got this notification through. Are preference shares part 71bn in issue?
2 December 2013
REDEMPTION OF PREFERENCE SHARES ISSUED BY LLOYDS BANKING GROUP PLC
Lloyds Banking Group plc gives notice that, on 29 November 2013, it redeemed all of the outstanding USD 423,815,000 7.875% Non-Cumulative Preference Shares (ISIN: XS0406095041) and the Euro 173,350,000 7.875% Non-Cumulative Preference Shares (ISIN: XS0406095637) (together the "Preference Shares") at their par value. Lloyds Banking Group plc will apply to the Financial Conduct Authority, in its capacity as the United Kingdom Listing Authority, to cancel the listing of the Preference Shares on the Official List of the United Kingdom Listing Authority.
Well put ... and yes I'd agree with that view. Things look very promising and Lloyds is threatening 79 at the moment. It has plenty of scope if it follows its pattern of behaviour over recent months, and so far it seems to be doing so.... Lloyds has a unique feel to me in having so many things in alignment as it has for some time. ...touch wood... as a bit of luck never hurt either :)
I'd guess it will probably hold up. The opinion I've read suggests it has plenty of oomph to recover. Lloyds is obviously outperforming it by some way for once... which is nice. Unexpectedly low Spanish PMI is getting some blame for FTSE's drop, but I also see some miners at least are having a tough time. Early political worries are also worrying Utilities given all the noise about prices. At least banking isn't the sector getting the worst flak for once.
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