Member Info for livestock

Lloyds Banking Group PLC (LSE:LLOY) is Deutsche Bank’s preferred UK banking play, helping push shares up 3.0% today.

The German investment bank has reiterated its ‘buy’ rating on the high street lender despite nudging its price target down to 62p from 63p.

“Our preference among UK domestic banks is Lloyds which we believe has a more stable deposit base; lower NIM sensitivity to deposit outflows; lower consensus expectations; and with a substantial yield,” analyst Robert Noble said.

Noble expects monetary policy to have incrementally negative impacts on the outlook for UK banks.

“As liquidity tightens we expect banks' will shrink and cost of funding will increase,” he said, adding “there is risk that the BOE passes more costs onto the banks through rate reform.”

However, he explained the current valuation of UK banks more than adequately compensates for these risks.

Noble rates Barclays PLC (LSE:BARC) at hold with a price target of 200p, down from 230p, NatWest Group PLC (LSE:NWG) buy with a price target of 320p down from 370p and Virgin Money UK PLC (LSE:VMUK) hold with a price target of 210p, down from 220p.

Shares in Lloyds were 3.0% higher at 45.74p.

https://www.proactiveinvestors.co.uk/companies/news/1027390/lloyds-banking-group-is-deutsche-s-preferred-uk-banking-pick-1027390.html

I'm off work today nice sunny day going out soon 👍🙏

Deutsche Bank cuts Lloyds Banking price target to 62 (63) pence - 'buy'

Dr John Glen, CIPS Chief Economist said:

“Policymakers are likely to feel concerned at this month’s figures which echoed survey records seen in the last economic crash over a decade ago.

“Private sector businesses reported that output fell at the sharpest rate since March 2009, outside the lockdown years and inevitably job creation followed suit as headcounts reduced at the fastest level since October 2009. Manufacturers experienced a rapid fall in pipelines of work as their backlogs shrunk at the fastest pace since February 2009.

“Businesses felt the impact of subdued market conditions and interest rate hikes and businesses reined back costs and capacity to stay afloat. Salary and fuel costs remained the main drivers of inflation even with a slight improvement in the rate of input cost rises which fell back to January 2021 figures.

“This ongoing pressure is leaking the life blood out of private sector business, so many will experience some relief that interest rates have remained the same this month. With more stabilised market conditions, businesses may feel they can continue build on their strong business optimism which surprisingly stayed close to last month’s figures.”

Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said:

“The disappointing PMI survey results for September mean a recession is looking increasingly likely in the UK. The steep fall in output signalled by the flash PMI data is consistent with GDP contracting at a quarterly rate of over 0.4%, with a broad-based downturn gathering momentum to hint at few hopes of any imminent improvement.

“Underscoring the severity of the UK's deteriorating situation, September's downturn is the steepest since the height of the global financial crisis in early 2009 barring only the pandemic lockdown months.

“The survey had warned that a revival of growth in the second quarter looked unsustainable, and the third quarter is indeed seeing a mounting toll on the economy from the reality of the increased cost of living and the recent rapid rise in interest rates.

“Despite higher fuel prices during the month, firms’ costs grew at a sharply reduced rate overall which, combined with collapsing pricing power amid weak demand, looks set to take further pressure off inflation in the coming months.

Steeper downturn in service sector activity weighs on UK economy

Key findings:

Flash UK PMI Composite Output Index(1) at 46.8 (Aug: 48.6). 32-month low.

Flash UK Services PMI Business Activity Index(2) at 47.2 (Aug: 49.5). 32-month low.

Flash UK Manufacturing Output Index(3) at 44.6 (Aug: 44.1). 2-month high.

Flash UK Manufacturing PMI(4) at 44.2 (Aug: 43.0). 2-month high.

Data were collected 12-20 September

September data pointed to a reduction in UK private sector output for the second month running. Moreover, the rate of decline accelerated to its fastest since January 2021. The loss of momentum reflected a steeper drop in service sector activity than seen during August, which more than offset a slower decrease in manufacturing production.

Input price inflation meanwhile saw its largest monthly fall so far in 2023, despite widespread reports citing pressure on costs from higher fuel bills. A combination of weak demand and lower cost inflation contributed to the slowest increase in average prices charged by private sector companies since February 2021.

https://www.pmi.spglobal.com/Public/Home/PressRelease/0915ad01f0b9439bb159fbeca63c6414

The Eurozone manufacturing sector contraction deepened but the services sector saw a mild improvement in September, the official data from the HCOB's latest purchasing managers index survey showed Friday.

https://www.fxstreet.com/news/eurozone-preliminary-manufacturing-pmi-unexpectedly-falls-to-434-in-september-vs-440-expected-202309220801

(Reuters) - German business activity fell for the third consecutive month in September due to a sustained decline in demand for goods and services, pointing to a "deep" economic contraction in the quarter, a preliminary survey showed on Friday.

https://www.google.com/amp/s/uk.finance.yahoo.com/amphtml/news/shrinking-german-business-activity-points-073348339.html

Things are just getting worse for the euro area economy as the French services sector plunges deeper into contraction territory towards the end of Q3.

https://www.google.com/amp/s/www.forexlive.com/news/france-september-flash-services-pmi-439-vs-460-expected-20230922/amp/

Flash PMI data out at 9.30 hopefully it's showing UK is in growth 📈

Retail sales rebounded in August after the bad weather kept consumers away from the high street in July.

Figures from the Office for National Statistics showed retail sales climbed 0.4% in August, after falling 1.1% in July (revised from a fall of 1.2%).

The figure was slightly below City hopes for a rise of 0.5%.

On a three-month view to August, retail sales rose by 0.3% when compared with the previous three months.

Food stores sales volumes rose by 1.2% in August, following a fall of 2.6% in July when supermarkets reported that the wet weather reduced clothing sales, and supermarket food sales also fell back.

Share price at 9p up 9.09% looking good hope you're right 30p for Christmas

GL

The company didn't realise a trading statement in August looks like the next date is December 24 for Final Results for the Year Ended 1 July 2021 be good to know how the company going

NoahsArk

Good decision not buying in the market sell off continues 290. Hopefully should see a good set of numbers Q3 results 3rd November should turn things around

Nationwide has joined the increasingly competitive market battle for customers' cash by offering an account paying 8% interest.

The new offer is a regular savings account, available for a year exclusively to its current account customers.

Https://www.lloydsbankinggroup.com/insights/launching-lloyds-bank-360.html#:~:text=Lloyds%20Bank%20360%20puts%20the,such%20as%20financial%20coaching%20sessions.

The FTSE 100 is expected to nurse heavy losses at the open on Thursday ahead of the interest rate decision by the Bank of England after a ‘hawkish hold’ by the US central bank on Wednesday.

Spread betting companies are calling London’s lead index to open down around 70 points

Hope the rally continues "sell in May and go away, come back on St. Leger's Day"

If you have an income of more than £10,000 a year from savings, dividends and investments, you need to complete a self-assessment tax return.

For the tax year which ended on April 5 this year, you will need to register with HMRC by October 5 and submit the return and pay any tax due by January 31, 2024

https://www.thisismoney.co.uk/money/saving/article-12536245/Why-having-just-16-000-savings-plunge-tax-tangle.html

And………..?