|Bid||3.0400 x 2200|
|Ask||3.0500 x 47300|
|Day's Range||3.0400 - 3.0800|
|52 Week Range||2.4300 - 3.6300|
|Beta (3Y Monthly)||1.22|
|PE Ratio (TTM)||10.17|
|Forward Dividend & Yield||0.17 (5.15%)|
|1y Target Est||2.88|
Lloyds Banking Group has defended the 6.3 million pound pay package awarded to chief executive Antonio Horta-Osorio, after criticism from politicians and investor trade bodies. Horta-Osorio's pay in 2018 has drawn harsh commentary, with particular focus on the generous pension perks that eclipsed those on offer to Lloyds' broader workforce. Addressing questions at the company's annual general meeting, Lloyds Chairman Norman Blackwell insisted executive awards were "fair" and justified given the bank's turnaround in recent years from the brink of insolvency to becoming one of Europe's most profitable lenders.
Britain will keep one penny and two pence coins in circulation, finance minister Philip Hammond announced on Friday, a year after saying they were obsolete and usually hoarded in jam jars or even binned. The ministry estimates that 2.2 million people in Britain rely on cash because they don't have a bank account or for other reasons. Debit cards overtook cash for the first time in 2017 as the most frequently used payment method in Britain, and some outlets no longer accept cash as a form of payment.
Activist investor Edward Bramson lost his battle for a seat on the board at Barclays after shareholders voted against his bid to overhaul the under-fire investment bank from within. Speaking to reporters on the sidelines of the lender's annual meeting on Thursday, the activist said fellow investors had been swayed by personal appeals from Barclays' incoming Chairman Nigel Higgins for the opportunity to resolve the investment bank's long-standing problems. Bramson said his investment fund Sherborne Investors disagreed with giving the bank more time, arguing that he had seen little change at Barclays before the last six weeks, following the surprise exit of investment bank boss Tim Throsby in March.
European shares fell on Thursday after the U.S. Federal Reserve sent a neutral message on policy and a mixed bag of earnings for the region trickled in. The pan-European STOXX 600 index fell 0.6 percent by 0730 GMT as major markets returned from the May Day holiday, except for London's FTSE 100, which extended losses from the previous session. Fed Chairman Jerome Powell disappointed the doves after the central bank's Wednesday meeting, signaling little appetite to adjust interest rates anytime soon.
This is lower than a consensus of 1.88 billion pounds compiled by the bank, which said it was due to one-time items including a break fee for moving some wealth funds out of Standard Life Aberdeen after a British tribunal ruled against the bank in March. Lloyds is looking to diversify its revenue streams, particularly in wealth and insurance, while its core loans and savings accounts tread water. Last year it awarded Schroders Plc and BlackRock Inc. a mandate to oversee about 109 billion pounds, aiming “to create a market-leading wealth management proposition.” However, the company on Wednesday flagged break fees to move the funds, contributing to a 339 million-pound charge.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! António de Sousa Horta-Osório became the CEO of Lloyds Banking Group plc (LON:LLOY) in 2011...
The change, stemming from a revision by the Bank of England’s Prudential Regulation Authority, would allow the bank to lower its targets for its CET1 ratio, a measure of capital strength, to around 12.5 percent, from 13 percent, according to a statement on Wednesday. Jefferies Group LLC analysts Joseph Dickerson and Aqil Taiyeb said the BOE cut its requirements more than the market expected, leaving Lloyds with about 1 billion pounds of excess capital that could be used for a buyback this year.
Garmin, Tailored Brands, Amazon, China Mobile and Lloyds highlighted as Zacks Bull and Bear of the Day
European shares snapped a four session winning run on Thursday, as bank stocks drew close attention after sources said Italy's UniCredit was interested in buying Germany's Commerzbank. The pan-European STOXX 600 index fell 0.3 percent, as most sectors ended in negative territory, giving back a sliver of the 3.2 percent gained largely on strong Chinese economic data and hopes of a U.S.-China trade deal during the past four sessions.
Britain's FTSE 100 retreated after a five-day rally on Thursday, as financial heavyweights slid on ex-dividend trading and oil majors weakened, while a profit alert sank tourism and insurance group Saga on the midcap index. The FTSE 100 fell 0.5 percent by 0715 GMT and the FTSE 250 was down 0.4 percent.
The prospect of a further delay to Brexit eased some fears of a disruptive no-deal departure and sparked a rally in homebuilders and banks on Wednesday, helping London's main index hold on to a six-month high, while midcaps outperformed. The FTSE 250 bounced 1.2 percent - its biggest rise in two-and-a-half months - for a fifth straight session of gains, while the FTSE 100 added 0.4 percent and ended the session at its highest level since early October. Prime Minister Theresa May said on Tuesday said she would seek another Brexit delay beyond April 12, hoping to try to agree a European Union divorce deal with the opposition Labour leader.
Britain's top share index broke a four-day winning streak on Wednesday as strength in banks and homebuilders on the prospect of another Brexit extension was outweighed by weakness in exporter stocks after the pound found its ground. The FTSE 100 was 0.1 percent lower by 0721 GMT, while the more domestically-focussed FTSE 250 added 0.3 percent as the local currency strengthened. Prime Minister Theresa May, after seven hours of cabinet meetings on Tuesday, said she would seek another Brexit delay beyond April 12 to try and agree a European Union divorce deal with the opposition Labour leader.
Deutsche Bank (DB) is likely to undertake more costs control due to the muted performance of the investment banking segment in the first quarter.