|Bid||49.60 x 0|
|Ask||49.63 x 0|
|Day's range||49.11 - 50.04|
|52-week range||48.16 - 66.79|
|Beta (3Y monthly)||0.81|
|PE ratio (TTM)||9.38|
|Forward dividend & yield||0.03 (6.58%)|
|1y target est||75.37|
London's FTSE 100 bagged gains on Monday led by oil majors and Asia-exposed banks that rose on moves by China to keep business interest rates low, while pub operator Greene King helped midcaps outshine after agreeing to be bought out. The FTSE 100 added 1%, its biggest one-day rise in more than 10 days, but a 50% surge in Greene King shares helped the FTSE 250 index outperform with a 1.5% rise.
These two FTSE 100 (INDEXFTSE:UKX) stocks offer low valuations, high income returns and growth potential in my view.
British asset manager Standard Life Aberdeen's first-half profit missed forecasts on Wednesday as clients continued to pull money from higher-margin products, hitting fee revenue and sending its shares lower. SLA, Britain's second-biggest standalone money manager by market capitalisation, has suffered months of outflows and while the pace of demand to exit its funds slowed, outflows still exceeded a company supplied forecast of analysts. Many of SLA's rival asset managers, such as Schroders , have been hit by outflows during the first half of the year, amid weakening investor sentiment as trade war tensions rise and Brexit uncertainty weighs.
Lloyds Banking Group plc (LON: LLOY) is in one hell of a pickle today. So I'd stay away, says Royston Wild, as its share price is likely to keep on slipping.
The Financial Conduct Authority's senior managers regime, introduced in 2016, aimed to clean up behaviour in the finance industry after banks were fined billions of pounds for trying to rig interest rate benchmarks and currencies. This has tried to "change the tone at the top" of finance firms by making senior management directly accountable for specific activities or misdemeanours. "The majority felt that the industry had some way to go to improve the quality and timeliness of references," the FCA said in a "stock take" on Monday of its senior managers regime.
I think we could be edging towards a dramatic end to the status quo when it comes to the performance of shares in Lloyds Banking Group plc (LON: LLOY).
Britain's financial complaints body encouraged consumers on Friday to lodge claims for mis-sold loan insurance ahead of an Aug. 29 deadline, despite criticism from some banks that a majority of the claims were "vexatious". Banks have paid out more than 36 billion pounds ($43.6 billion) for mis-selling payment protection insurance (PPI) over the past decade in Britain's costliest retail scanadal. Three of Britain's biggest banks said they had been contending with a surge in PPI claims ahead of the deadline in first-half results this week, with Lloyds and Barclays arguing the quality had gone down as volumes had risen.
Royal Bank of Scotland on Friday said deteriorating economic conditions before Brexit were likely to derail next year's profitability and cost targets after it reported strong first-half results, including a 1.7 billion pound dividend. The results show how the bank's outgoing CEO Ross McEwan has put RBS on a surer financial footing, but his successor will now face major challenges, including steering RBS through any Brexit fallout and returning the lender to private hands. RBS warned that in the first half of the year some of its consumers and businesses were struggling as the chances rise of a disorderly departure from the European Union.
G A Chester discusses the latest results from Lloyds Banking Group plc (LON:LLOY), and the near- and longer-term outlook for investors.
* European stocks mixed: STOXX 600 flat%, DAX +0.3% * Earnings in focus: L'Oreal, CS, BNP, Lloyds * Fed expected to cut rates by 25 basis points * U.S. futures drift higher on Apple results * Trade war concerns hit Asian shares Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. While, its still not possible to zero in on a single reason, the cost of the rout was a whopping $190 billion wipe-off in market value across Europe, including the UK, where export-heavy FTSE was just 0.5% down helped by sterling weakness.
Combative warnings from U.S. President Donald Trump cast a shadow over Sino-U.S. trade talks, which concluded in Shanghai on Wednesday. The fresh trade tensions come before a U.S. Federal Reserve meeting that's expected to see interest rates reduced by 25 basis points, its first rate cut in more than a decade. In focus now is on whether the Fed will leave the door open for further easing.
Investment in Britain's car industry has slumped due to fears about a disorderly no-deal Brexit, adding to signs of a manufacturing downturn even as consumers stay relatively resilient, surveys and company comments showed on Wednesday. Car makers see no deal as the worst possible option, the country's leading automotive lobby group said, while in the wider manufacturing segment a survey from the Confederation of British Industry said optimism among smaller British companies had tumbled to a three-year low in July.
A slew of positive corporate earnings and optimistic signs from U.S.-China trade talks propped up European shares on Wednesday as investors braced for what would be the U.S. Federal Reserve's first interest rate cut in more than a decade. The turn of central banks globally towards monetary easing had driven sharp rises in stocks in June and early July but after a mixed earnings season and Tuesday's sell-off, the STOXX index ended the month up just 0.2%.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Lloyds Banking Group Plc shares sank as the lender took an extra charge for a last-minute rush of calls from British customers over missold insurance. The country’s biggest mortgage lender posted a 550 million-pound provision in the second quarter for customers who were missold payment protection insurance, as a long-running compensation program draws to a close in August. It’s the biggest provision the bank has taken since the fourth quarter in 2017 and it brings its bill to above 20 billion pounds ($24 billion).George Culmer, outgoing chief financial officer, said the additional charge was “disappointing.” The August deadline “encourages customers to make contact and get paid out and we are seeing that happen. However, the extent at which it’s happening has caught us by surprise.”Culmer said the bank is getting upwards of 190,000 requests a week, with only 10% being converted into claims.The PPI charge is well above market estimates, and shares in Lloyds fell as much as 5.3% in London, the largest fall since the week of the Brexit vote in 2016. Analysts at Jefferies International said the PPI charge “casts a pall over otherwise benign” results.“The bank will hope this is a final Parthian shot from the mis-selling scandal which has cost it billions,” said Nicholas Hyett, analyst at Hargreaves Lansdown. However, Culmer said there are no guarantees this is going to be the last charge.“I have done it for too long, there is always uncertainty regards the volume” of the claims, he said.According to the Financial Conduct Authority, banks paid 35.7 billion pounds to PPI customers between January 2011 and May this year. Lloyds’ running total makes it the biggest spender so far. The lender sold approximately 16 million PPI products since 2000, according to its latest annual report.Policies, which were intended to cover missed debt repayments, were often sold using aggressive tactics and in the worst cases, banks misled customers by telling them that PPI was mandatory for loans. In other scenarios, it was sold without giving clients a full explanation of what it would cover. Royal Bank of Scotland Group Plc has made provisions totaling about 5.3 billion pound so far for the scandal.The unexpectedly high cost meant Lloyds posted a pretax profit of 1.29 billion pounds for the second quarter, below the analyst consensus of 1.76 billion pounds. The bank also reported a 5% increase in its interim dividend.As uncertainty lingers due to Brexit, the bank increased its expected credit loss allowance by 50 million pounds. Unlike peers such as RBS, this is the first time Lloyds has set aside a specific provision to cover a deteriorating U.K. economy this year. Culmer said that the charge reflects an "update of the economic outlook” and that “it’s not a big number.” Lloyds’s central scenario remains that there will be “some form of orderly withdrawal.”“The company is not without risk, not least in regard to the outlook for the U.K. economy,” analysts at Citigroup AG said in a note to clients.More Highlights:Impairments rose to 304 million pounds from 198 millions in the second quarter last yearLloyds mentions charges taken for “two corporate cases” in commercial banking without naming the companies involved; Culmer declined to give further information but said that “they are absolutely not Brexit related”Banking net interest margin was 2.89%, slightly lower than the first quarter, but in line with bank’s target for 2019 (Updates with more detail from 2nd paragraph.)To contact the reporter on this story: Stefania Spezzati in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Ambereen Choudhury at email@example.com, Marion DakersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
London's FTSE 100 slipped on Wednesday from this week's 11-month high, as wealth manager St. James's Place, homebuilder Taylor Wimpey and mortgage lender Lloyds fell on the back of results, overshadowing an upbeat forecast from clothing retailer Next. The main index lost 0.8%, its biggest one-day drop in two months, as exporter stocks also weighed after the pound recovered from a 28-month low.
Pre-tax profits fell at Lloyds Bank in the first half of the year by 7% to £2.9bn, in part due to £550m in costs related to the PPI scandal.
Lloyds Banking Group played down mounting concerns about Britain's Brexit crisis as it missed first-half profit forecasts due to a much larger than expected charge for mis-selling insurance. Chief Executive Antonio Horta-Osorio said Lloyds had seen business confidence deteriorate, but little impact on consumers as odds of a chaotic exit from the European Union shorten and economic surveys paint an increasingly gloomy picture. Lloyds has been the only one of Britain's four biggest lenders not to have taken a provision against a potential Brexit-related increase in bad loans, and its comments contrast with some deteriorating economic indicators.