grahambyrneco
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(Reuters) - Lloyds Banking Group (LLOY.L) has not received any takeover approaches for Scottish Widows, its life assurance, pensions and savings business, a spokesman told Reuters on Monday.
A slightly better than expected close for Lloyds, closing the day down 2.3% largely following the FTSE which shed 1.9% today. It could have been a lot worse!
Terrible day for the markets in general today. Take some heart that the financials are pretty much in line with the overall market. Weak data from China and the Eurozone the catalyst for the selling.
"It's hardly a ringing endorsement, but we are starting to take comfort from the fact that not only is Lloyds increasingly adopting a "warts and all" approach to disclosure, much of the sellside froth has come out of near-term consensus expectations too," the bank said in a research note."Lloyds' quarterly numbers can be a touch volatile, but in Q1'12E we expect a Combined Businesses basis ("CBB") PBT of £0.5bn, (Q1 '11 £0.3bn, Q4'11 £0.9bn) which gives an EPS of 0.1p. Our forecast of sharp QoQ revenue decline reflects only a nominal liability management gain in Q1E vs £1.3bn in Q4 as well as the more structural drivers of decline - balance sheet shrinkage and weak NII/OOI. Further progress on costs and lower impairment mitigate."
Lloyds: Investec reiterates buy rating and 40p target.
Lloyds is currently up about 2% at 31.20p. Santander has reiterated a "buy" rating for the stock forecasting a target price of 60p which would value the shares at double the current price: http://www.economy-news.co.uk/lloyds-banking-group/1374-lloyds-banking-and-rbs-33443 . Reuters is reporting that NBNK has stepped back into the ring for the 632 banks for sale under project verde: http://uk.reuters.com/article/2012/04/12/uk-lloyds-nbnk-idUKBRE83B0H320120412 .
LLOY still disappointing at midday, down 2.5% at 30.6p #lloy $lyg
#lloy $lyg Stabilising a little but banks still face selling pressure lloy down 1.8% rbs down 1.8% barc down 3.1%
#lloy $lyg Slightly worrying - down 2% at the open
It seems more people are interested in seeing the sale of HMG's holdings! http://uk.reuters.com/article/2012/04/03/uk-rbs-lloyds-taxpayers-idUKBRE83205H20120403 $lyg #lloy