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Business confidence saw a marginal decline this month, falling one point to 21% after strong gains in December and January. This is the first fall since November 2022, though business confidence remains at its second highest level since July last year, not far below the long-term average of 28%.

Firms’ predictions of their own trading prospects saw gains with 48% (up two points) expecting a stronger performance, while those anticipating weaker business activity was down one point to 18%.

https://www.lloydsbankinggroup.com/media/press-releases/2023/lloyds-bank-2023/february-2023-business-barometer.html

Business confidence saw a marginal decline this month, falling one point to 21% after strong gains in December and January. This is the first fall since November 2022, though business confidence remains at its second highest level since July last year, not far below the long-term average of 28%.

Firms’ predictions of their own trading prospects saw gains with 48% (up two points) expecting a stronger performance, while those anticipating weaker business activity was down one point to 18%.

https://www.lloydsbankinggroup.com/media/press-releases/2023/lloyds-bank-2023/february-2023-business-barometer.html

LONDON, Feb 28, (Reuters) - The pound edged up on Tuesday, drawing some strength from Britain's agreement with the European Union on post-Brexit trade, but it was still heading towards its largest monthly loss against the dollar since September.

British Prime Minister Rishi Sunak struck a deal with the European Union on Monday to ease restrictions on trade between Northern Ireland and Britain

After the disappointing UK bank reporting season comes better news from Santander.

The Spanish bank said on Tuesday it intends to increase pay-outs to shareholders to 50% of profits from 40% as the lender laid out plans for higher profitability and growth alongside full-year results.

The Madrid-based lender which bought UK building society Abbey National in 2004 is targeting a return on tangible equity of 15-17% for the next three years (2023- 2025), while delivering double-digit average annual growth in tangible net asset value per share plus dividend per share through the cycle.

By 2025, it is aiming to add 40mln customers, which would take its total to 200mln.

"This will help to grow revenues by 7-8% per year on average in constant euros in 2023-2025. Furthermore, through its ongoing transformation, the bank expects to improve its efficiency ratio from 45.8% to 42% by 2025," Santander added.

In 2023, the bank expects to continue to generate further, profitable growth, targeting double-digit revenue growth; a ROTE of above 15%; cost of risk below 1.2%; a cost to income ratio of 44-45%, and CET1 above 12%.

In 2022, attributable profit rose to €9.61bn, 18% more than 2021, a new record. Underlying profit also amounted to €9.61bn, up 11% year-on-year.

https://www.proactiveinvestors.co.uk/companies/news/1007477/ftse-100-lower-ocado-tumbles-and-food-inflation-hits-new-high-1007477.html

British Airway’s owner International Consolidated Airlines Group SA (LSE:IAG) should do well this year say Liberum analysts, who see aviation demand staying strong.

The broker predicts the FTSE 100-listed airline will record full-year revenues of €28.8bn, rather than the €26bn it originally anticipated, with profits also expected to come in €20mln higher at €2.3bn.

Higher-than-predicted guidance from IAG is behind the upgrade, with passenger figures to sit around 98% of pre-pandemic levels, Liberum said, boosting revenue but also operating costs.

Liberum also raised the airline giant’s share price target to 240p from 220p, or 53% above Tuesday’s opening price of 156.5p, alongside reiterating its ‘buy’ rating.

“This reflects our optimism that economic activity, and hence air travel demand, will remain ahead of airline industry capacity relative to pre-pandemic levels,” Liberum noted.

Lagging recovery from the pandemic, due to travel restrictions, means there is still headroom for growth to continue across the sector, “even if there is an economic slowdown”.

“In our view, IAG’s favourable strategic positioning and long-term earnings potential have not been affected by the pandemic,” the broker added.

https://www.proactiveinvestors.co.uk/companies/news/1007520/british-airways-owner-forecasts-raised-as-strong-demand-tipped-to-continue-1007520.html

British Pound to US Dollar is having a rally thanks to the new Brexit trade deal a strong pound will help IAG

https://www.thetimes.co.uk/article/ba-owner-iag-fears-heathrow-wont-cope-with-great-summer-getaway-x6grdj3dt

Down another 5% today things never get any better holding this stock

sundezena
You can't compare IAG and easyJet they have completely different business models the planes look the same wheels engines flaps that's the only thing in common the outlook for IAG isn't looking good with staffing issues and strikes looming
DYOR

The rally continues SP back up again

Northern Ireland Brexit deal done got to be good for UK economy

Lloyds Banking Group Plc (LSE:LLOY) shares could still show investors a massive 43% return, that’s according to analysts at Barclays which retain an upbeat view despite last week’s disappointing results.

The British high street bank last Wednesday reported flat annual profits and underwhelmed the City with its guidance for 2023.

The bank reported pre-tax profit for the year to December 31, 2022, of £6.93bn, little changed from £6.90bn in 2021, and broadly in line with City expectations for £6.95bn.

Shareholders were rewarded with a slightly higher dividend and will see the Lloyds share price supported by a new £2bn share buyback programme.

Analysts at Barclays today published a note trimming its earnings forecast for this year, reflecting the conservatism shown by Lloyds last week though its price target stays untouched at 75p per share (versus the current price of 52p).

“While Net Interest Margin (NIM) [which is the amount the bank makes on lending versus what it pays out in interest] has likely peaked, earnings are building toward a higher and more sustainable level, underpinned by lower deposit risks and receding provision concerns,”

“Given sector leading capital returns and compelling value (at 6-7 times PE), we remain overweight.”

In London, Lloyds shares were up 0.39p or 0.75% on Monday changing hands at 52.05p

JPMorgan raises Lloyds price target to 61 (58) pence - 'neutral'

I'm still shorting this stock making a killing

The FTSE 100 is expected to start the week in brighter fashion recouping some of Friday’s losses.

Spread betting companies are calling London’s lead index up by around 28 points

London will power the UK economy out of recession and is poised to be the fastest growing area in the country over the coming years, new forecasts out today reveal.

The capital’s economy is on track to expand 2.6 per cent each year between 2024 and 2026, pushing it to the top of the countrywide growth table, according to consultancy EY.

https://www.cityam.com/london-to-power-uk-economy-away-from-recession-and-clinch-best-growth-across-the-country/

Looks like the group will be broken up and sell the best assets of individually, the shorters will be all over this tomorrow

It's only the pensioners investing in Lloyds nowadays the UK remains unfashionable among the investment elite

Share price jumps 7% on results day with announcement of boost to dividend and possible special payment, looks like they're looking after the share holders and not just senior management

https://www.investorschronicle.co.uk/news/2023/02/21/hsbc-boosts-dividend-to-woo-income-investors/

Lti
"A share buyback has little influence on the day to day share price levels"

Markets are forward looking reducing the share count will increase the EPS