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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.12 (0.23%)
Spread: 0.04 (0.077%)
Open: 52.38
High: 52.90
Low: 52.18
Prev. Close: 52.06
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Update: Lloyds at odds with FSA over APS

Fri, 18th Sep 2009 07:58

Improving economic conditions have prompted part-nationalised bank Lloyds Banking Group to renegotiate its possible participation in the government asset protection scheme (APS).The company issued a statement in response to intense media speculation about its participation in the scheme, with reports suggesting that the bank’s hopes of completely withdrawing from the government's toxic debt insurance scheme have been thwarted by tougher than expected conditions imposed by the Financial Services Authority (FSA).Lloyds said Friday that after examining the results of its loan portfolios and their expected performance it is in talks with the Treasury about possible changes to the commercial terms on which Lloyds might enter into the APS from those announced in March 2009.Lloyds said in March that it would give the government £15.6bn in B shares in return for insuring £260bn worth of toxic loans, opening up the possibility of the government’s 43% stake rising above 60% should the government convert the B shares into ordinary shares.Management at Lloyds is thought to be keen to get the government off the share register as swiftly as possible and Friday’s statement confirmed that the group is also mulling possible alternatives to participation in the APS. These options are being discussed with HM Treasury, UK Financial Investments and the Financial Services Authority.According to press reports Lloyds had submitted to the FSA proposals to raise £15bn through a rights issue, but its proposals failed to meet a series of stress tests run by the regulator.The FSA reportedly believes Lloyds will need more than £20bn in fresh capital to comfortably cover bad debts.If true, that does not necessarily preclude a reduced involvement in GAPS by Lloyds. A reduction in state aid for Lloyds would go down well with the European Commission, which reportedly is poised to undermine the business logic of Lloyds’ controversial takeover of massively indebted rival HBOS by ordering it to sell off the Halifax business as the price for receiving billions of pounds in state aid.Halifax, the former building society, has long been a major player in the UK mortgage market and one of the few redeeming features of the Lloyds-HBOS merger in the view of many long-suffering Lloyds shareholders is the prospect of the merged entity benefiting from clear leadership in the UK mortgage lending market when the housing market picks up.Many investors bought Lloyds’ shares as an income stock, since when Lloyds has come cap in hand asking for shareholders to stump up money to shore its balance sheet. Another massive rights issue might test the patience of institutional investors but could yet be necessary to boost the company’s chances of keeping Halifax in the fold.
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23 Feb 2024 10:13

IN BRIEF: Lloyds launches GBP2 billion share buyback programme

Lloyds Banking Group PLC - Edinburgh-based financial services firm - Commences share buyback for up to GBP2 billion worth of ordinary shares. The buyback, conducted by Morgan Stanley & Co International PLC, will run until December 31. Lloyds says that the purpose of the programme is to reduce its ordinary share capital, and the company intends to cancel all repurchased shares.

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23 Feb 2024 09:19

LONDON BROKER RATINGS: Barclays raises Breedon but cuts Domino's Pizza

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

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22 Feb 2024 16:26

London close: Stocks rise amid raft of solid earnings

(Sharecast News) - London's stock markets finished in positive territory on Thursday, bolstered by upbeat performances from US AI chipmaker Nvidia and engine manufacturer Rolls-Royce.

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22 Feb 2024 09:59

CORRECT: Lloyds profit rises but books GBP450 million probe provision

(Correcting sum of Lloyds Banking Group PLC's final dividend.)

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22 Feb 2024 08:24

TOP NEWS: Lloyds profit rises but books GBP450 million probe provision

(Alliance News) - Lloyds Banking Group PLC on Thursday reported an annual profit surge and announced a new share buyback, though it said it has booked a provision in connection to a UK watchdog probe on historic motor finance arrangements.

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22 Feb 2024 07:49

LONDON BRIEFING: Lloyds sets aside GBP450 million for UK motor probe

(Alliance News) - Stocks in London are set to higher on Thursday, as earnings from Nvidia, at the heart of an artificial intelligence boom, did not disappoint.

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22 Feb 2024 07:03

Lloyds FY profit soars, puts aside £450m for motor finance probe

(Sharecast News) - Lloyds Bank on Thursday reported a 57% jump in full-year profits and announced another £2bn share buyback, but also set aside £450m for the regulatory probe into UK motor financing.

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21 Feb 2024 09:18

Thursday preview: Global PMIs, Lloyds in focus

(Sharecast News) - All eyes on Thursday will be on a raft of purchasing managers' surveys due out in the euro area, UK and US covering the month of January.

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20 Feb 2024 16:52

LONDON MARKET CLOSE: Pound boosted after BoE's Bailey talks rate cuts

(Alliance News) - Stock prices in London closed lower on Tuesday, whilst the pound bounced back, after the Bank of England's Andrew Bailey talked interest rate cuts.

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20 Feb 2024 11:57

LONDON MARKET MIDDAY: Banking stocks drag FTSE 100 into green

(Alliance News) - Stock prices in London were mixed at midday Tuesday, after a busy morning of corporate updates and earnings.

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20 Feb 2024 09:18

IN BRIEF: GCP Infrastructure enters into new revolving credit facility

GCP Infrastructure Investments Ltd - Jersey-based investment fund focused on infrastructure - Announces that it entered into a new revolving credit facility on Thursday. The RCF has a three-year term and has been agreed with Lloyds Bank PLC, Mizuho Bank Ltd, Allied Irish Bank and Clydesdale Bank PLC acting as lenders. GCP says it has reduced the total RCF commitments to GBP150 million from GBP190 million, in line with the company's capital policy as outlined in its 2023 annual report. In December, GCP adopted a policy realising around 15% of its portfolio, GBP150 million, to "rebalance sectors and reduce equity exposures, and to apply the funds towards a material reduction in the RCF", as well as to facilitate the return of at least GBP50 million to shareholders by the end of calendar 2024.

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20 Feb 2024 08:52

LONDON MARKET OPEN: Stocks slide; banks rise as Barclays outperforms

(Alliance News) - Stock prices in London opened in the red on Tuesday, as European markets failed to find upward momentum amid muted trading in Asia, and Monday's public holiday in the US.

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16 Feb 2024 14:59

London close: Stocks rise as UK retail sales rebound

(Sharecast News) - London's stock markets saw positive gains on Friday, buoyed by encouraging UK retail sales data and favourable earnings reports from NatWest.

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15 Feb 2024 14:42

UK earnings, trading statements calendar - next 7 days

Friday 16 February 
NatWest Group PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
Monday 19 February 
Bank of Cyprus Holdings PLCFull Year Results
MoneySupermarket.com PLCFull Year Results
Transense Technologies PLCHalf Year Results
Wilmington PLCHalf Year Results
Tuesday 20 February 
Antofagasta PLCFull Year Results
Barclays PLCFull Year Results
BHP Group LtdHalf Year Results
Coca-Cola Europacific Partners PLCFull Year Results
Gran Tierra Energy IncFull Year Results
InterContinental Hotels Group PLCFull Year Results
Petra Diamonds LtdHalf Year Results
Springfield Properties PLCHalf Year Results
Wednesday 21 February 
BAE Systems PLCFull Year Results
Conduit Holdings LtdFull Year Results
Glencore PLCFull Year Results
HSBC Holdings PLCFull Year Results
Rio Tinto PLCFull Year Results
Riverstone Credit Opportunities Income PLCFull Year Results
Tate & Lyle PLCTrading Statement
Thursday 22 February 
Anglo American PLCFull Year Results
Genus PLCHalf Year Results
Hargreaves Lansdown PLCHalf Year Results
Hays PLCHalf Year Results
Hikma Pharmaceuticals PLCFull Year Results
Indivior PLCFull Year Results
Jupiter Fund Management PLCFull Year Results
Lloyds Banking Group PLCFull Year Results
ME Group International PLCFull Year Results
Morgan Sindall Group PLCFull Year Results
Pantheon International PLCHalf Year Results
Rolls-Royce Holdings PLCFull Year Results
WPP PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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8 Feb 2024 13:50

Santander reportedly lodges complaint about Nationwide ad

(Sharecast News) - Santander UK has filed a formal complaint with Britain's advertising regulator over a Nationwide campaign which it claims "discredits and denigrates" the high street banking sector.

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