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Lloyds Bank has a market capitalisation of excess £48 billion has been stress tested for another financial crisis, pandemic and yet they have chosen to set aside £688 million of shareholders money to cover potential bad debts

You can't make this up

Britain’s secret property market saw almost £30.9bn worth of property transactions last year, the highest annual market value in well over a decade.

New figures show that in 2021, 98,235 homes are estimated to have been sold off-market, a 51.4 per cent increase on the previous year and the third largest annual total of off-market transactions in the last decade.

https://www.cityam.com/revealed-britains-secret-property-market-generates-staggering-30bn-in-just-one-year/

PortfolioPower

Don't embarrass yourself

US stocks were expected to open lower on Friday with futures for the Dow Jones Industrial Average 0.2% lower in pre-market trading, while those for the S&P 500 were down 0.7%, and contracts for the Nasdaq-100 shed 1.0%

Disappointing results from Amazon and Apple have piled further pressure on the tech-laden Nasdaq composite, which shed 178 points in the last trading session

The wider concerns from last night’s results point to a weakening economy, which although we’ve been warned about, still have the ability to spook the market when we see the tangible effects

FTSE 100 expected to nurse heavy losses at open as big tech falls short once more

International Consolidated Airlines Group SA (LSE:IAG) has upgraded its full-year profit expectations after reporting higher-than-expected sales for the third quarter with prices increases leading to revenues having “fully recovered” from the pandemic despite capacity remaining lower.

The British Airways owner revealed operating profits of €1.21bn for the third quarter, a swing from a €452mln loss a year ago and broadly in line with City forecasts.

For the first nine months of the year, IAG's operating profits were €770mln, with profit after tax and exceptional items at €199mln versus a loss of €2.6bn this time last year.

For the full year, the Anglo-Iberian group guided to profits of “approximately €1.1bn”, which is around €300mln higher than the market has been expecting, with net cash flow from operations predicted to be “significantly positive for the year” – assuming COVID-19 does not make a strong comeback.

In the results statement, IAG chief executive Luis Gallego said: “All our airlines were significantly profitable and we are continuing to see strong passenger demand, while capacity and load factors recover

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"Link Removed"

https://www.digitaljournal.com/pr/trading-icagy-world-cup-2022

https://bolsa.one/

“given the current outlook”

The average UK house price was £296,000 in August 2022, which is £36,000 higher than this time last year

https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/august2022

House prices fall slightly as market shows further signs of slowing
• House prices decreased marginally (-0.1%) in September (vs. +0.3% in August)
• Annual rate of growth fell further to +9.9% (from +11.4%)
• A typical UK property now costs £293,835
• Annual inflation slowed in all but one region during September

https://www.pmi.spglobal.com/Public/Home/PressRelease/0dec209e2dcd4d9381f01b9d20bf48af

In my area the only drop in house prices are the ones nobody wants It would be good to see where William Chalmers Is getting his figures from

William Chalmers Lloyds finance chief has got to justify the 688 million pounds set aside to cover the soured loans, they stress test the bank to cope with financial crisis, pandemic I'm getting a 10% pay rise this month, this is more than enough to pay for any extra on bills, the 688 million is Lloyds profits and should go back to shareholders this is done to keep the share price suppressed along with the dividend payments

Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, noted the near-£700mln put aside in readiness for a weak economy is non-cash buffer.

“The best case scenario is that the group has over-egged its estimates and some of that hoard will be released, ultimately boosting profits.

“The more difficult scenario comes if the economic dive is steeper than predicted, which would see impairment charges swell.

“To a large extent, Lloyds can’t control the external forces that govern its customers’ behaviour, but its particular exposure to traditional lending, especially mortgages, puts it in the firing line when conditions sour.”

She noted that Lloyds efforts to diversify its income streams with a beefing up of its wealth management capabilities would in usual times be a positive this year, but as the wealth management sector has had a torrid time in recent months, adds to Lloyds’s risk-management headwinds.

“The bank is dripping with excess capital, so it has more than enough backbone to pull through these difficult times, but further dents to the income statement certainly can’t be ruled out.”

https://www.proactiveinvestors.co.uk/companies/news/996654/lloyds-banking-dripping-with-cash-so-investors-should-expect-higher-returns-say-analysts-996654.html

Good set of figures out tomorrow should get 127. Then with the removal of passenger cap Sunday this should be 150 For Christmas especially with Heathrow warning it may reinstate the cap as the airport is booming, once the airline's are back in favour 200 is easy achievable

skier1
"Negative headlines drive negative markets"

Rishi Sunak has just delayed the announcement of his physical plan to bring back some economic stability and confidence in the markets, November 17 is the announcement date

Germany's Lufthansa gave an upbeat forecast for air travel on Thursday, saying it expected demand to remain strong, with high average yields, as holidaymakers splash out on tickets.

Consumer demand for travel in Europe is holding up despite record-high euro zone inflation, with travellers willing to pay higher fares, according to recent statements by airlines including Ryanair and easyJet.

Lufthansa said on Thursday that the continued high premium demand from leisure travellers was especially remarkable, with load factors in Business and First Class exceeding pre-pandemic levels. Its yields, a metric of profitability, jumped by 23% in the third quarter versus 2019, reaching a new record high

https://www.google.com/amp/s/uk.sports.yahoo.com/amphtml/news/lufthansa-forecasts-strong-air-travel-050324235.html

Posting bumper profits and opens in the red this old donkey going knackers yard

Lloyds has reported third quarter net income of £4.59bn, up 13% and in line with market forecasts, but announced a jump in bad debt charges to £668mln taking the total for the nine months to date this financial year to £1.045bn.

Underlying profits before the impairment charges were £2.4bn, a 22% increase on the same period last year, while underlying profits were down 17% to £1.73bn.

The high street lender said its CET1 ratio of 15.0% remained well ahead of the ongoing target of c.12.5% and it remained committed to looking at returning excess capital returns as usual at year-end.

Looking ahead, the bank updated its 2022 guidance and said banking net interest margin are now expected to be greater than 290 basis points, operating costs are expected to be c.£8.8 billion, the asset quality ratio is now expected to be c.30 basis points and return on tangible equity expected to be c.13%.

Charlie Nunn, group chief executive: “Our income growth, balance sheet momentum and resilient customer franchise have enabled the Group to deliver a robust financial performance and strong capital generation, alongside updated guidance for 2022.”

FTSE 100 set to open lower on Thursday after US markets lost their earlier gains and as Facebook owner Meta saw its shares tumble after the bell following weaker than expected third quarter earnings.

Spread betting companies are calling London’s blue chip index down by around 20 points

Bank of Canada raised rates by a less than expected 50bps to 3.75%, in a move that suggests that central banks are starting to wake up to the possibility that too aggressive rate rises could do more harm than good

Lloyds Q3 results out tomorrow should see a bumper profits leads to growing chances of bank windfall tax and a drop in share price in morning