Lloyds Share News (LLOY)

City sources predict the FTSE 100 will open up 12 points from yesterday's close of 5,686, tracking gains in the US and Asia. Signs of life in the US housing market and further pledges from the Federal Reserve Chairman to provide more stimulus measures should the US economy need it encouraged investors to chase prices higher on Wednesday for the second day in succession. Thus, European stocks are close to two and a half month highs and Chinese stocks on track to close in the blue for a second consecutive week, something of a rarity. To be taken into account, the latest quarterly results out from the likes of IBM and E-Bay overnight ellicited a positive reaction from investors. The Federal Reserve´s Beige Book described economic growth in the US as modest to moderate overall. Spain´s Treasury will auction up to €3bn in medium-term debt towards 10:00, while Italy and Germany are to vote on the rescue package for Spanish banks. UK retail sales data due out at 9:30. Project Verde, the code name for Lloyds Banking's enforced sale of hundreds of its branches, is close to completion after the part-nationalised lender signed non-binding heads of terms with the Co-operative Group, which wants to buy the branches. The Co-operative Group (Co-op) will pay Lloyds an initial consideration of £350m, and up to an additional £400m in present value - equivalent to around £800m on a nominal basis - based on the performance of the Co-operative's combined banking business from completion up to 2027.Kingfisher, Europe's largest home improvement retailer, said it was hit by the extraordinary bad weather in the second quarter, though trading in the UK and Ireland was resilient. The B&Q owner said that group reported sales rose 3.7% in the 10 weeks to July 7th, but like-for-like (LFL) sales fell 0.4%. During the 23 weeks to July 7th, revenues were up 1% but down 2.8% LFL.RPS, the natural resources, land and property consultancy group, has acquired consulting firm Manidis Roberts, expanding its footprint in the water, transport and power-supply infrastructure markets in Australia. Manidis Roberts, founded in 1988, is an environmental and project management consultancy headquartered in Sydney. HSBC has downgraded Aberdeen Asset Management to sell from neutral.