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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

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Share Price: 51.98
Bid: 51.96
Ask: 51.98
Change: -0.32 (-0.61%)
Spread: 0.02 (0.038%)
Open: 52.68
High: 52.82
Low: 51.72
Prev. Close: 52.30
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Lloyds may sell larger stake in TSB IPO - UPDATE

Thu, 19th Jun 2014 09:55

Lloyds Banking Group is reportedly looking to sell a bigger stake in TSB than previously expected when the high street banking arm floats on the stock market on Friday.Lloyds, which is disposing of the 631 branches that form TSB as a condition of its state bailout in 2009, said earlier this month that it would offer 125m shares in the initial public offering (IPO), representing a 25% stake.However, according to various media reports, the bank is now thinking about raising the amount that it intends to offload after strong demand from investors.The offer range was set on June 9th at between 220p and 290p, valuing TSB at £1.1bn to £1.5bn. Reuters this week cited sources as saying that the range was narrowed to between 250p and 270p. This range was "well-oversubscribed" and valued TSB at a minimum of £1.3bn.Meanwhile, other rumours suggest that Lloyds could sell up to 35%, or 175m shares, in an attempt to tap into this demand.Investor appetite for the IPO has allegedly increased since Bank of England Governor Mark Carney last week signalled that interest rates could rise sooner than expected. It is thought that TSB's £17.7bn mortgage portfolio will benefit from higher rates.While the bank will still likely take a hit on the sale - having recently valued TSB at £1.55bn in its accounts - the sell-off of a bigger stake may come as a relief to investors following the botched disposal to the Co-operating Bank that fell through last year.Lloyds must get rid of its remaining shares in TSB by the end of 2015.Lloyds' shares were down 0.2% at 77.54p by 14:15.BC
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29 Jan 2024 11:31

Lloyds to scrap mobile bank branches as moves towards online banking

(Alliance News) - Lloyds Banking Group PLC is shutting down its mobile banking service this year, after revealing plans to shed 1,600 jobs across its branch network as it moves ahead in the shift towards online banking.

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25 Jan 2024 14:41

Lloyds Banking Group to cut 1,600 jobs across branch network

(Sharecast News) - Lloyds Banking Group said on Thursday that it will cut around 1,600 jobs across branches as it continues to shift its focus to online banking.

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25 Jan 2024 10:36

BoE says 'ring fencing' capital rules for retail banks need no big overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked satisfactorily with no major overhaul needed.

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25 Jan 2024 10:05

Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked "satisfactorily" with no major overhaul needed.

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23 Jan 2024 12:37

UK Chancellor Hunt meets top UK bank heads over plans to boost City

(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.

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23 Jan 2024 09:21

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

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22 Jan 2024 08:34

LONDON MARKET OPEN: FTSE 100 follows New York into the green

(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.

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18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

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17 Jan 2024 12:00

LONDON MARKET MIDDAY: UK inflation uptick, weak China data hits stocks

(Alliance News) - Stock prices in London were lower at midday Wednesday, as hotter-than-expected UK inflation data served as a setback to early rate cut expectations.

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15 Jan 2024 16:57

LONDON MARKET CLOSE: Sluggish stocks slip back in absence of US spur

(Alliance News) - Stocks in London were marked lower on Monday with the lack of direction from Wall Street, with US markets closed, adding to the subdued mood.

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11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

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11 Jan 2024 11:36

UK finance watchdog probes possible motor finance misconduct

LONDON, Jan 11 (Reuters) - Britain's finance watchdog said on Thursday it would start looking into the motor finance industry, amid rising tensions between thousands of consumers and finance providers about commission arrangements.

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11 Jan 2024 09:26

TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

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4 Jan 2024 12:56

Royal London tabling bid to buy bulk annuities from Lloyds - report

(Sharecast News) - Life insurance, pensions and investments group Royal London is in discussions to purchase Scottish Widows' bulk annuities arm, according to Sky News.

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2 Jan 2024 22:01

Top-rated US companies raise over $29 billion in new-year bond supply rush

Jan 2 (Reuters) - Top-rated U.S. companies raised over $29 billion in debt on Tuesday, giving the corporate bond market a strong start to the new year, as the companies tapped demand from investors anticipating lower interest rates later this year.

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