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whybother
Antonio got paid millions in bonuses to keep the share price above 73p around that time, market's definitely not liking lloyds

whybother

This time last year the share price was 50p

In his latest research note, analyst David Perry confirms his recommendation. The broker JP Morgan is keeping its Neutral rating , with a price target 195

Duncan Brock, Group Director at the Chartered Institute of Procurement & Supply, said:

"Last month’s slowing trajectory continued into May as output growth in the services sector dropped again and input inflation rose especially for energy, fuel and salaries, taking another turn for the worst.
"The highest rises in prices charged since 1996 and consumer concern over the state of the UK economy in turn affected business orders which rose at the slowest pace since December 2021. Though there was a glimmer of hope with export orders which were not as flat as in previous months, Brexit customs restrictions and war in Ukraine continued to impact overseas confidence still further.
"One bright spot was strong employment levels. Job seekers still had the pick of the bunch in terms of roles and requested salaries but as capacity levels are reached and new order gaps appear, the window of opportunity is starting to close.
"The sudden fall in the overall index is a cause for worry and was reflected in the sector’s optimism which was the lowest since the height of the pandemic in October 2020. Recessionary fears are growing bigger and stronger amid the realisation that 2022 as the year of stable recovery has not materialised yet."

Tim Moore, Economics Director at S&P Global Market Intelligence, which compiles the survey:

“May data illustrate a worrying combination of slower growth and higher prices across the UK service sector. The latest round of input cost inflation was the steepest since this index began in July 1996, while the monthly loss of momentum for business activity expansion was a survey- record outside of lockdown periods.
"There were bright spots in customer-facing parts of the economy during May, buoyed by a rapid recovery in consumer spending on travel, leisure and entertainment. However, hospitality businesses widely reported constraints on recovery from a lack of candidates to fill vacancies and difficulties meeting demand due to ongoing global supply chain disruption.
"Service providers are increasingly concerned about the near-term business outlook, with price resistance among consumers and escalating cost of living pressures set to dampen spending during the second half of 2022. Growth expectations have dropped in each month since the invasion of Ukraine and are now the weakest since October 2020."

Weakest service sector performance since February 2021 as rising inflation hits customer demand

Key findings

Business activity expansion eases for second month running

Input cost and prices charged inflation hit fresh record highs

Growth projections lowest since October 2020

May data pointed to a difficult month for the UK service sector as business activity growth eased considerably since April and margins were squeezed again by rising inflation. Survey respondents often noted that concerns about the economic outlook and heightened risk aversion had taken a toll on customer demand. As a result, service providers signalled that growth expectations for the year ahead dipped for the fourth month running to the lowest since October 2020.
At 53.4 in May, down from 58.9 in April, the headline seasonally adjusted S&P Global / CIPS UK Services PMI® Business Activity Index pointed to the slowest rise in output volumes since the current period of expansion began 15 months ago. The month-on-month loss of momentum (5.5 index points) was larger than any seen since the survey began in July 1996, aside from those due to COVID-19 lockdowns.

https://www.pmi.spglobal.com/Public/Home/PressRelease/60eade93c5164f889375f7a00804a14a

Reserve Bank hikes official interest rate by 50 basis points to 0.85% to curb inflation

ALIEN METALS (@AlienMetals) tweeted at 8:15 am on Tue, Jun 07, 2022:
CEO Bill Brodie Good speaks to @Katie_Proactive from @proactive_UK on the recent encouraging update on the path to production at the Han**** #IronOre Project.

Watch here: https://t.co/7d9slkrn3Q

#UFO #AlienMetals https://t.co/74ruQ2CpVY
(https://twitter.com/AlienMetals/status/1534071655156293636?t=B-ZmhF4It3wyhkvJTbiRbg&s=03)

Comment

Olya Borichevska, Global Economist at J.P.Morgan, said:

“The all-industry composite PMI moved up half a point in May reversing part of the 2.5pt drop in the index from February to April. The improvement in May was concentrated in the EM where China and Russia saw large improvements against declines across much of the DM. The move up in China suggests the worst of the recent outbreak is over for the time being. In Russia the shock to the economy from sanctions looks limited based on the PMI survey. Elsewhere in the report It was positive to see employment series hold up suggesting continued strength in the labor markets. Price pressures remain high according to the latest survey.”

Global Services Summary

The J.P.Morgan Global Services Business Activity Index posted 52.2 in May, unchanged from April, to remain at a level below its average for the current 23-month sequence of growth. Output rose in almost all of the nations covered, the exceptions being China and Russia.
Underpinning the latest rise in business activity was faster growth in new work received, higher employment and increased intakes of new export business. Input-price inflation accelerated to a 200-month high, leading to a further steep increase in average output charges.

Global economic growth inches higher as downturn in China eases

Key findings

Output and new orders rise at faster rates

Business optimism recovers from April low

Input costs and output prices rise at near- survey record rates

The rate of global economic expansion remained lacklustre in May, with growth staying among the weakest registered during the current 23-month upturn. The slight uptick in the pace of increase was mainly due to an easing of the lockdown-driven downturn in China. The upturn in the rest of the world remained solid (on average) in comparison, despite slowing for the second straight month.
Please note that due to later-than-usual release dates, May manufacturing data for Indonesia and South Korea were not available for inclusion in the global numbers. Services data for the UK were also unavailable for inclusion.
The J.P.Morgan Global Composite Output Index – produced by J.P.Morgan and S&P Global in association with ISM and IFPSM – posted 51.5 in May, up slightly from 51.2 in April. Manufacturing production declined for the second successive month, albeit at a slightly slower pace. Meanwhile, growth in service sector business activity stabilised at April's three-month low.
The downturn in China remained the main drag on global economic growth in May. Output in China contracted for the third straight month following recent lockdowns in several cities. However, a lifting of some restrictions helped ease the rate of decline from April's more than two-year record. Russia was the only other nation covered to register a downturn.

https://www.pmi.spglobal.com/Public/Home/PressRelease/6a5f2ecbb55b4ebea1b8ca77635f6541

Lloyds might get a Boris bounce in morning

It looks like it's all been planned so when Boris wins the vote he can't be challenged for another year

Will Boris Johnson win the No Confidence Vote?
Paddypower

Yes price 1/4 one pound wins 1.25

No price 5/2 one pound wins 3.50

ALIEN METALS (@AlienMetals) tweeted at 10:46 am on Mon, Jun 06, 2022:
Looking out towards the Vivash Gorge tenement from the south.

#AlienMetals #UFO https://t.co/cD2EHio9Y1
(https://twitter.com/AlienMetals/status/1533747025400963073?t=6pipS2XDlNqtMMva2XJ_Ag&s=03)

China’s services activity contracted for a third straight month in May, pointing to a slow recovery ahead despite the easing of some coronavirus lockdowns in Shanghai and neighbouring cities, a private business survey showed on Monday.

The Caixin services purchasing managers’ index (PMI) rose to 41.4 in May from 36.2 in April, edging up slightly as authorities began to roll back some of the strict restrictions that have paralysed the financial city of Shanghai and roiled global supply chains.

https://www.google.com/amp/s/sg.news.yahoo.com/amphtml/china-services-activity-contracts-third-015952243.html

A1
Can you put me down for 0.705p
Thanks

ALIEN METALS (@AlienMetals) tweeted at 9:25 am on Mon, Jun 06, 2022:
Happy #WesternAustraliaDay to all our colleagues and associates down under and worldwide from the Alien Team.

#AlienMetals #UFO https://t.co/ylazpWLex3
(https://twitter.com/AlienMetals/status/1533726818775224329?t=LioAI0_hSoNjdvtBigVg5g&s=03)

(Bloomberg) -- Iron ore topped up its biggest weekly gain in 13 weeks as traders tracked China’s moves to rein in Covid-19 restrictions that have weighed on steel demand this quarter.

FTSE 100 is tipped for healthy gains, Financial spread betting firms have pencilling in a rise of more than fifty points