RE: General Markets11 Jan 2024 00:01
Psk
''UK banks are basket cases, and no amount of buybacks will increase the share price.''
yet more nonsense.
Lloyds make between 7 and £8 Billion of underlying profits a year- and yet you say they are a 'basket case'.
The sole purpose of buybacks for cancellation is to reduce the share capital.
The market on a daily basis values the Lloyds business, reflected by movements in the price per share. Buybacks for cancellation increase the value of a share compared to what it would have been without buybacks .
I can assure you that if a further 50 Billion shares were bought and cancelled, the price per share on the remaining shares would not be 47p with the current level of profitability.