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Just in case anybody believes Azurris "23p average"can I point out that the intra-day ten year low for LLOY is 25.43p on 31/07/20 .I know because I bought some on that day and at other points that month and have an average in the high twenties.Surprisingly, Azurri did not post on the lloy board from that day until 6 December last, though did go on to say "80-120p by EOY"on dozens of occasionsin the early months of this year so I would recommend a substantial dose of Sodium Chloride when reading his posts!!

It's worth remembering that RDSB hold about 15% of the petrol staions in UK and are planning to develop these as destinations to tae advantage of the much longer time tken to recharge EV's than to fill a tank.several others have the same plan ,The Issa'sand BP of course, but those with a large established network of stations stand to profit from the (probable) increased incidental spend of motorists en route.The migration from ICE's to electric may well not prove to be as catastrophic for the big oil co's as some assume.

Pokerchips....goalless draw!

Good thinking Falky , for the brave (or foolhardy !) this is a day to buy/add,despite beig a long term investor, for once I agree with you(it probably won't happen again!!)

Yeah OK that's not all that uncommon, BUT I read many of the posts here and for weeks now they have been typified by moans about the SP and pleas for it to reach 60/70p and above.Has it escaped the notice of everybody here that the SP spent more than half of last year at levels in the middle twenties to middle thirties, ie at prices anywhere from 25-40% LOWER THAN IT IS NOW. That means two things , one it was possible to buy at a price that offered a near 80% PROFIT at todays price and second, that having already recovered significantly from its lows it is little wonder that the SP is taking a breather and not hurtling ahead.Anyone who has spent time investing in the markets will know this, now the rest of you do so please........stop grumbling and stresssing about tiny daily movements. Succesful investing means having time horizons of months , or years not milliseconds......

Botbot
At the time you retire you will have a capital sum (and possibly a source of revenue). In simple terms if you ignore any revenue then your capital sum needs to earn as much or preferably a little more than your annual expenditure.In my case I gave up full time work twenty five years ago and have earned comfortably an average of 10% plus on my capital every year since then with only two exceptions.The rise in the cost of living which has been astonishingly low for most of that time is not IMV a factor, rising prices will always be accompanied by rising asset values.I would therefore argue that any sum in the region of £750 k will provide you , if sensibly managed ,with enough to live well and probably outlast you. Worst case is that the capital will diminish over time but without dwelling on the perils of getting old , your expenditure is likely to diminish over time at a similar rate. My annual expenditure over the last two decades has been similar to yours largely because we have spent several months each year with family in Oz and Thailand, with associated travel costs and we own and maintain properties in France and Spain.
At the risk of straying in to finacial advice i would suggest that you ensure diversification of your assets , in to dollar denominated and world wide , I am not convinced that relying on the Uk markets and sterling assets will be bomb proof over the next deacde or two.
I wish you good luck!

Rod I have never ever asked for a post to be removed .

Nothing personal Velo, I am a holder here and assess all information both positive and negative in regard to my holdings.I have no wish to breach the confidentiality of those I have worked with who Know Adam Crozier and NOTHING I have said is untrue. Should you care to, a review of Private Eye's comprehensive coverage of the PO scandal reveals that AC was in charge when the much criticised Horizon system was introduced. His period at The FA was one of much argument and he was dismissed after only 2 years in post. this comment sums his tenure up "Put it this way, I wouldn't **** on him if he were on fire," said a former FA executive as quoted in the Guardian , (a little left wing?)
There was also an incident with a shall we say slightly "overcooked "CV which he seems to have manged to obliterate from the internet. I will not prolong the exchange further and leave any last words to you . I do however stand by my , as a substantial holder here , unbiased observations.

Velo if your comment wad directed at me, can I assure you I have no political axe to grind, I know several people who have worked with , or in one case succeeded, Adam Crozier and their view is unanimous , he is untrustworthy and inept . Should you care to find it there is plenty of information to support my assertions.

It would be instructive for those curious about Adam crozier , to read a little of his background, he preceded Paula Vennels at the post office when the Horizon accounting system was being installed which subsequently led to the wrongful convictions of hundreds of sub-postmasters
At Royal mail, Lindsay Hoyle now speaker of the HOC said of Crozier
"He will be judged as the man who took away second post, stopped Sunday collections and closed thousands of post offices. It is a company that has been put through a car crash.'
His career is an unmitigated but highly rewarded story of failure after failure , I am certain he is in post here to keep quiet and collect the cash no more no less..

The appointment of the new chairman is a strong positive for Jansen, because Crozier is a man with a track record of unblemished mediocrity , having held a series of high profile positions(some of which were acquired by deception). He is known to Jansen via his brother and will have been selected on the grounds that he will stand silently by while Jansen gets on with the job. It is good news for BT as the power struggles at the top are resolved , a clear path is identified (apart from the intentions of Drahi)and the funding of Fibre rollout , which is the key to long term profitability is assured. As an incidental the millstone of the pension fund is lightening as the UK market recovers. I am positive here and will be adding at these levels.

common .. won't prolong the debate any longer , we've given it a fair going over , but just to say that as the cash was Already on RR's books it's not really an additional sum.

common ...not langley!

Langley I was factoring in the transfer of the outstanding 33 mill of debt which Langley have taken on , as a net positive for RR.

Botbot as Bergen was not independently listed there is no market cap(MC)so the figures are based on RR's "hypothetical" value.Given that the three figures to emerge are cash =40milland EV =63and "sale proceeds"=70mill
Then in the equation:
63=Notional value + total debt - 40, if we assume that notional value is the same as RR's"sale proceeds" of 70 mill, then the equation is

63=70 +X -40
then X=33
the statement then becomes
Enterprise value( 63)= market cap (70)+total debt (33)-cash(40)
We can , I think assume that RR are suggesting that they have , in effect got 143 mill out of the deal , slightly less than the 150 mill of a while ago.
I think?

Todays RNS say that RR has "sold" its Bergen engines division at an enterprise value of 63 mill euros.Enterprise value is a term meaning the value of the business plus its outstanding loans , so for a company worth £100 mill with outstanding loans of £100 mill the enterprise value is £200 mill . Clear?
This means that Bergen has been sold probably at zero value or below, Langley have taken on its debt and acquired the assets at zero or maybe even negative value. IIRC RR said the hoped for price for Bergen Was 150 mill, this does not augur well for the ITP sale.

RR is pushing out a series of positive announcements,Bergen,, Mini nukes..maybe some others before(or with) the crunch tomorrow. It is inevitable that tomorrows figures will include a significant downward revision to the numbers of engine miles flown this year to date and the estimates for the rest of this year and next.My guess(and it is just a guess) is that they will be at or below 50% of 2019 numbers for both years.As you all know that represents about half of their revenue. RR are forced sellers of Bergen and ITP and won't get near the £2bill they hoped for .I don't do SP predictions , but i do suspect that there are falls to come before a recovery which is now at least two years away . I continue to hold in trepidation.

The government has several strings to pull , not just on divis, but on the required level of capital buffers, on lending criteria, on banking charges........
As a hypothetical how about this ... Gov still holds ~60 % of NWG , worth about £12bill , they want to get rid of as much of that as they can as soon as they can to top up the coffers, BUT if all the other banks are seen to be paying high divis , punters and insti's dump NWG and head for LLOY, BARC, HSBC.....thus driving NWG's SP down , government sales bring less cash.... Is it just that I'm a cynical sod , or is it a plausible scenario? You tell me! There are covert gov. pressures exerted all over the business world.

Bumble..... Banks are a special case , as they are rightly deemed a fundamental element of the financial system and the government MOST definitely holds an interest, history details the "bail out" of RBS, LLOY 's "forced" takeover of HBOS, the managed run down of Northern Rock..... they are more tightly regulated than somebody selling biscuits.If you accept ,as I hope you do, that companies with a key role in the power grid and energy supply , the water supply network , defence, health services , including vaccine development and manufacture might well be constrained by government then I'm afraid the consequences for shareholders must be accepted.

Bumble see
https://www.bankofengland.co.uk/about
note the third item "safe and sound banks", however much you might like LLOY to pay more generous divis. they will have had it made clear to them in no uncertain terms that they must exercise restraint.I doubt that the Governor of the BOE(idiot tho' he is) will care much about your concerns.In the wider national interest it very much should happen, and maybe in your medium term interest it will prove beneficial for you(if you are sensible enough to hold for some years).