Member Info for hardup

I doubt Nige will ever be PM or King.

Rich62.....they initially opened their short position on 21st August at 0.51%. They increased this on 24th August by 0.1% to 0.61%. This was one day before the buyback completed. Seems to me they were taking a bet that the SP would dive when the buyback completed.

Interesting when Reeves says that Labour won't increase CGT rates? She made no mention of not reducing further or even abolishing CGT allowances? So I read that as they will not increase the rates at which CGT is charged but can still reduce CGT allowances further or abolish altogether if they wish?

Dorfan,

Then there would be less money available for the buyback kitty so less shares bought back. Swings and roundabouts.

The Lloyds share price has undergone a period of consolidation, and the charts suggest the FTSE 100 bank has built a base for a leg higher.

Lloyds are navigating a challenging economic environment. On the one hand, they are enjoying the benefits of higher interest rates on net interest margins while, on the other hand, we are starting to see housing activity slow.

Higher interest rates are proving to be a double-edged sword for Lloyds after reaping the rewards in the first half and subsequently feeling the wrath of the FCA for not passing these on to their customers.

As we move firmly into the second half and approach the 4th quarter, the question remains whether Lloyds have squeezed all they can from the current cycle. This question has led to a period of consolidation in the 42-43p region – a key level of support.

https://ukinvestormagazine.co.uk/lloyds-shares-are-building-a-base-for-a-leg-higher/?

The FTSE 100 surged on Tuesday in the first trading session after the Bank Holiday as the index played catch-up with a strong session for global equities yesterday.

China moved to support their domestic equity market by cutting levies on trading over the weekend, which resulted in a sharp jump in Chinese stocks that rippled through global equities on Monday.

In addition, the absence of any negative fallout from the Jackson Hole Symposium helped boost sentiment and US and European equities gained even as the Chinese stock market rally faded.

https://ukinvestormagazine.co.uk/ftse-100-surges-after-china-acts-to-boost-equity-market-interest-rate-fears-subside/?

Lti....I never saw your post until after I posted mine.

Hounddog10

"Effectively, this means that buyback purchases are much more easily effected where the share price is declining and quite difficult where the share price is consistently rising. In the two buybacks they did in the years pre COVID they were unable to complete the whole intended buyback."

So there were 2 buybacks pre covid, 2018 £1B, and 2019 £1.75B.

The 2018 £1B buyback was completed on 24th August 2018....total 1,577,908,423 shares for aggregate cost £1B.

The 2019 £1.75B buyback did not complete, but it was not because the SP was consistently rising. It was suspended early in September 2019 because it was thought there would be a late surge in PPI claims in the run up to the deadline for claims. There was around £676M unspent from the £1.75B announced for the buyback.

1.ARMANI....."Sorry..........I would prefer they announced a 30bn Dividend over the next five years!"

Yes please! That would work out to a total dividend EACH year of 9.37p! I think many on here would go with that! Wishful thinking though!

Is now the time to be "greedy when others are fearful"?

Gazzleberry

"Airbrushed"

Are you referring to the missing £600,000 money that disappeared from SNP Accounts?

A1

"Yes, I ask clearly remember "we were told by the PRA at the time that divi's was not cancelled, just postponed" - Seems someone at the PRA 'misspoke' and all trace has been removed from the internet !!!"

Incorrect again. The PRA requested that 2020 dividends should be suspended until the end of 2020, and CANCEL payments of any outstanding 2019 dividends.

"The PRA welcomes the decisions by the boards of the large UK banks to suspend dividends and buybacks on ordinary shares until the end of 2020, and to cancel payments of any outstanding 2019 dividends in response to a request from us."

https://www.bankofengland.co.uk/prudential-regulation/publication/2020/pra-statement-on-deposit-takers-approach-to-dividend-payments-share-buybacks-and-cash-bonuses

Motbuck

"My issue is that we were clearly told at the time that the divi was not cancelled , it was postponed."

Not correct. Lloyds explicitly stated in an RNS issued 1st April 2020 "Update on Dividend Payments"that the dividend had been cancelled.

"In addition, in response to a request from the PRA and to preserve additional capital for use in serving our clients, the board has agreed to cancel payment of the final 2019 dividend in relation to ordinary shares. Accordingly, resolution 17 in relation to the declaration of that dividend will be withdrawn from the AGM, scheduled to take place on 21 May 2020. Our board will decide on any dividend policy and amounts at year-end 2020."

https://www.lse.co.uk/rns/LLOY/update-on-dividend-payments-t4dycvtadky5c41.html

TOKYO (AP) — Global shares were mostly higher Monday, as investors were relieved by the head of the Federal Reserve indicating it will “proceed carefully” on interest rates.

France's CAC 40 added 0.8% in early trading to 7,288.58. Germany's DAX rose 0.6% to 15,730.05. Trading was closed in Britain for a bank holiday.

U.S. shares were set to drift higher with Dow futures up 0.3% at 34,464.00. S&P 500 futures rose 0.2% to 4,423.50.

Japan's benchmark Nikkei 225 added 1.7% to finish at 32,169.99. Australia's S&P/ASX 200 gained 0.6% to 7,159.80, after data on Australian retail sales showed they rose a higher than expected 0.5%.

South Korea's Kospi rose nearly 1.0% to 2,543.41. Hong Kong's Hang Seng jumped 1.0% to 18,130.74, while the Shanghai Composite surged 1.1% to 3,098.64.

“The muted reaction of treasury yields to the rhetoric from Jackson Hole shows that US Federal Reserve chairman Jerome Powell probably hit the right tone when it comes to keeping further policy tightening on the table but at the same time not rattling market confidence,” said Tim Waterer, chief market analyst at KCM Trade.

But Powell also took care to say he’s aware of the risks of going too far on interest rates and doing “unnecessary harm to the economy." Altogether, the comments weren't very different from what Powell said before, analysts said.

https://www.marketbeat.com/articles/stock-market-today-asian-shares-mostly-rise-after-fed-chief-speech-2023-08-27/?

Gazz,

https://www.bbc.co.uk/news/world-us-canada-66632882

Don't know.

Donald Trump has made £5.6M merchandising products with a picture of his mugshot on!

Sotonspike

I would say Lloyds will not announce another buyback this year. They are very explicit in stating decisions on excess cash distributions are made at Full Year results.

When dividend payment day comes around, those that decide to reinvest their dividends buy them on the open market. There are no new shares issued for this. Some companies offer a SCRIP scheme where they receive new shares instead of the dividend. Companies that do SCRIP schemes issue new shares for this. Lloyds do not offer a SCRIP scheme. If you want to reinvest your dividends they are bought on the open market.

Gazzleberry

Joke article.......I think not? All the main tabloid papers, Sun, Guardian, Daily Mail, Daily Express , Evening Standard had the same story in August 2020.

Gazzleberry

That link you posted appears to have had the date of the article amended to say it was published 3 days ago. It is actually 3 years old!

https://newsthump.com/2020/08/24/land-of-hope-and-glory-to-be-dropped-from-last-night-of-the-proms-after-being-fact-checked/