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Brooks Macdonald agrees £10m acquisition of Lloyds' offshore wealth business

https://www.investmentweek.co.uk/news/4016898/brooks-macdonald-agrees-gbp10m-acquisition-lloyds-offshore-wealth-business

Brits holding 11% more cash in accounts despite income hit

Average balances up 11% in lockdown as spending stalls

Spending on essentials down 3% in May year-on-year; non-essentials down 32%

Halifax reveals everyday banking top tips

https://www.lloydsbankinggroup.com/Media/Press-Releases/2020-press-releases/halifax/brits-holding-11-more-cash-in-accounts-despite-income-hit/?optoutmulti=0:0|c1:1|c3:0|c5:0|c4:0|c2:0&optmessage=1

Non-essential spend down 32%, compared to 42% in April

Essential spend in May down 3% compared to last year; 12% down for 18-24 year olds.

3% drop marks slight recovery from 5% fall seen in April; driven by a 26% increase on grocery spend.

Spending on non-essential items improved in May relative to the record fall seen in April, data from Lloyds Bank shows.

https://www.lloydsbankinggroup.com/Media/Press-Releases/2020-press-releases/lloyds-bank/consumer-confidence-edges-back-as-non-essential-spend-improves-in-may/

Britain’s economy is shrinking at its fastest pace in centuries as the devastation wrought by the coronavirus pandemic saps demand, but it’s likely to bounce back to growth next quarter as more businesses reopen, a Reuters poll found.

https://uk.reuters.com/article/uk-britain-economy-poll/worst-may-be-over-for-battered-british-economy-reuters-poll-idUKKBN23W04M

Lloyds to drop on the US coronavirus fears can't see it below 31p

Adewins

Its all down to the economic data coming out in the next few weeks if it continues to come better than expected now the economy is being released 29 October Lloyds Q3 should be showing a good set of results 45p for December 2020 looking good

What will the dividend payment be for Lloyds investors in 2022 with an interest rate at 0.1%

Boris Johnson talks has a positive affect on Lloyds the rally continues

Britain's private sector shrank less than expected this month as more businesses restarted work after the COVID-19 lockdown, putting the economy on course to return to growth from next month, a survey showed on Tuesday.

https://www.google.com/amp/s/uk.mobile.reuters.com/article/amp/idUKKBN23U13V

12.30pm Boris Johnson to set out lockdown changes in Parliament

https://www.google.com/amp/s/www.telegraph.co.uk/politics/2020/06/23/boris-johnson-speech-announcement-lockdown-uk-rules-update/amp/

UK CIPS Flash UK Composite PMI Economic Data

50.1 in June vs 40.7 in May

50 dividing line for growth

Lloyds is viewed as a bellwether for the British economy

VictorBlank
If we get a good set of figures for the economy this could push Lloyds to new highs

Can see a bounce in Lloyds today as the economy opens plus US-China trade deal is back on

Second wave covid-19 on its way

U.K. covid-19 Lowest Since March along with 2 weeks quarantine should keep the second wave away

Household expenditure declines at slower but still rapid pace (-19.9% on the year)
Face-to-Face sees steep drop in spending (-33.0%), while the fall in eCommerce eases to marginal rate (-0.5%)
Household goods spend up for first time in ten months (+4.5%), amid quickest ever rise in Food & Drink expenditure (+36.3%)

The latest Visa UK CSI data showed another considerable fall in household spending of -19.9% year-on-year in May, further showcasing the dramatic impact of the national lockdown measures on expenditure. Consumers have been largely unable to spend in sectors such as Hotels, Restaurants & Bars, Transport & Communication and Health & Education, due to the closure of large portions of these areas. Reduced confidence in both the economy and job security are also hampering household spending.
However, there were some green shoots in the data, most notably an +11.1% monthly rise in expenditure since April. As workforces in sectors such as manufacturing and construction were encouraged to return to work and other lockdown measures were relaxed, improved consumer confidence drove a rise in spending on Household Goods of +4.5% year-on-year. Most other sectors saw weaker downturns, a trend which will hopefully continue as non-essential shops are allowed to reopen in mid-June.

Household Finance Index for June was in line with other data which has suggested a moderate recovery since economic output collapsed by a historic 20% in April when swathes of businesses were shuttered.
The index rose to 40.7 in June from 37.8 in May,

https://www.google.com/amp/s/uk.mobile.reuters.com/article/amp/idUKKBN23T13F

If the US second wave to covid-19 comes to nothing then we can expect a steep rebound in activity over the next few months

Lloyds is a buy

Tomorrow's UK (PMI) data.
The expectation is for it to come out at 40 which will be an improvement on last months’ figures of 29. Anything above 50 represents growth
Ruours surfacing that the UK is considering cutting VAT rates this effectively encouraged spending so combined with interest rates at their lowest in history could the UK spend itself toward a recovery?

Stock market crash: 3 reasons why I’ll ignore the Lloyds share price for my ISA!

The Lloyds (LSE: LLOY) share price remains perilously close to the eight-year troughs below 30p ploughed in March. Dip-buying has been muted as investors ponder the economic storm already battering the UK economy. There are a number of reasons why I myself won’t be buying the FTSE 100 company for my own personal ISA, a few of which I discuss below.

https://www.fool.co.uk/investing/2020/06/21/stock-market-crash-3-reasons-why-i-wont-buy-the-lloyds-share-price-for-my-isa/