Lloyds Banking Share Discussion Threads

[mitchy] 18/8/2020 07:16

Covid deaths yesterday down to 3 and 5 the day before that !

[xxxxxy] 18/8/2020 07:00

Managing the public sectorBy JOHNREDWOOD | Published: AUGUST 18, 2020There are a number of worries about the day to day management of public services by Departments and quangos. Ministers are responsible for policy decisions , for budget priorities and new legislation. They rely on the goodwill and abilities of many officials to supervise the day to day running of existing policies, to hire good people, to buy in necessary stocks, to distribute benefits, collect taxes and provide licences and approvals.We have seen in recent months parts of the public sector struggling to carry out regular functions, It is true the lock downs were disruptive, but most of the things government needed to do could be carried out from home with suitable computer back up, and by a limited number of key workers continuing to go into offices and other government installations.I have drawn attention in past blogs to the big shortfall in normal NHS work , and the shortage of work sent to the private hospitals which were contracted to undertake some of it. As the CV 19 hospital numbers came down there was a slowness in creating isolating units for the remaining CV 19 patients and returning most NHS capacity to the other needs. It appears the NHS is still well below capacity on many specialities , and it is taking time to restore full GP services in some locations.It appears that the Passport Office allowed a substantial backlog to build up for UK passports. This is something which allows on line applications and processing and should be compatible with more homeworking. I also learn from the media that there is a backlog in issuing provisional driving licences to new drivers. Again it is difficult to see why this could not be done remotely.I have not had reports of failures to issue cash payments to furlough employers, to benefit seekers or to small businesses under the new scheme. It shows that some parts of government were able to deal with large new surges in demand and to implement new programmes rapidly. It makes the failures in established areas more surprising.We saw the failure of Public Health England to buy enough protective clothing and to establish a strong enough test regime quickly. We are now witnessing Ofqual's inability to implement a policy which does uphold standards whilst being fair to young people when the ability to take examinations was removed.I would be interested in your examples of where the public sector responded well to new circumstances, and where it failed even in areas where it was simply meant to be doing what it had always done, adapted to more homeworking and social distancing.

[gaffer73] 17/8/2020 23:12

185k though

[ekuuleus] 17/8/2020 23:10

Someone ripped off by broker more like. There is only one trade at that price.

[ekuuleus] 17/8/2020 23:08

Google finance also showing 60p.

[trikytree] 17/8/2020 22:47

So what’s all that about then? Just some error I assume unfortunately. Would be nice to open tomorrow at 60p lol

[minerve 2] 17/8/2020 22:30

The capitalist system is no longer bothering to hide its cronyism.... I'm a conversative voter who believes capitalism is out of lives. - FT comment


At least any pretence has been dropped. Why don't we save ourselvea the bother of voting: at least the banks would appoint vaguely competent staff. - FT reply

[minerve 2] 17/8/2020 22:24

Sajid Javid returns to JPMorgan



Comment on FT:

He’s currently a sitting MP in an elected role. One could argue that
a) his full time job and therefore full time commitments should be to his constituents (not to lining his pockets) and
b) there is also a small matter of the undue influence his new job may put on him to make certain policy decisions that suit his new employer rather than his constituents - which would be undemocratic, and lastly
c) this just become another way for big business to lobby their agendas directly into the governmental machinery without transparency or due process..



So much for democracy. When will the chimps learn there is no such thing?

[minerve 2] 17/8/2020 22:16

"just roll up, park and check into our hotel in time for afternoon tea with scones still warm from the oven."

I think you have been watching too much Midsummer Murders.

LOL

[minerve 2] 17/8/2020 22:14

Cheshire

The context was Barrick Gold vs gold.

Actually, gold does carry interest and so does have a forward earnings stream like an investor purchasing Barrick would hope for (not of the same magnitude) but its interest is only available to certain entities.

I keep things simple here so as not to quickly lose the audience.

:)

LOL

[shortsup] 17/8/2020 22:07

https://www.lloydsbankinggroup.com/investors/share-price-info/Click on 'today' see the 107% rise after hours

[maxk] 17/8/2020 21:51

Then form a socially distanced queue to wait to see whatever you came here for in the first place.



Fun!

[buywell3] 17/8/2020 21:50

MM's do have a sense of humour you know

18:46:19 59.94 185,620 28.00 30.00 ?

LLOY to 16.66p for example

[cheshire pete] 17/8/2020 21:45

#586 Minerve: "Also, there is a huge difference between investing in gold as an asset and investing in a gold miner. One has no forward earnings stream, the other does."

Not as simple as you suggest. Different types of gold miner: those with proven resources and those exploring for it. For those with proven resource their share price can move with the gold price.

PS Haven't gone to the Lakes yet, we're looking forward to it though. No airports, foreign COVID quarantine, terrorism, security frisking, queuing, loud tannoys, rip off taxis....just roll up, park and check into our hotel in time for afternoon tea with scones still warm from the oven.

[shortsup] 17/8/2020 21:44

Nice one Gary , yes I read about that on LSE do you have a link at all ? Cheers ??

[buywell3] 17/8/2020 21:42

Joe Biden is very unlikely to last his first term
Covid-19 and olde age will IMO take him

Which means a vote for the Democrats is a vote for the first woman president

[loganair] 17/8/2020 21:32

Most sector analysts have given their thoughts on the sector in the past couple of weeks, with Citi on Friday agreeing that the sector’s greatest sensitivity is to unemployment.

Every single percentage point increase in unemployment rate “could add circa 8% to banks’ 2020-21 cumulative loan losses”, Citi analysts said, which they suggested, “seems to imply downside risks are manageable, especially given stronger 2Q20 capital ratios”.

In contrast to Deutsche, Citi does not fancy Barclays, seeing it at most at risk of additional charges, whereas Natwest “appears to have adopted the most prudent approach”.

Berenberg agreed that NetWest was the best positioned of the UK cohort to absorb loan losses and restart capital distributions, but also had ‘buy’ ratings for Barclays and StanChart.

[loganair] 17/8/2020 21:31

Most sector analysts have given their thoughts on the sector in the past couple of weeks, with Citi on Friday agreeing that the sector’s greatest sensitivity is to unemployment.

Every single percentage point increase in unemployment rate “could add circa 8% to banks’ 2020-21 cumulative loan losses”, Citi analysts said, which they suggested, “seems to imply downside risks are manageable, especially given stronger 2Q20 capital ratios”.

In contrast to Deutsche, Citi does not fancy Barclays, seeing it at most at risk of additional charges, whereas Natwest “appears to have adopted the most prudent approach”.

Berenberg agreed that NetWest was the best positioned of the UK cohort to absorb loan losses and restart capital distributions, but also had ‘buy’ ratings for Barclays and StanChart.

[loganair] 17/8/2020 21:30

Lloyds Banking Group share price target has been cut by Deutsche Bank, which remains cautious about the sector.

The UK’s biggest lender saw its price target cut to 32p from 34p by the German bank’s analysts in a note to clients on Monday.

“We remain cautious on UK banks and prefer banks with less rate sensitivity, more diverse income, flexible cost bases and at lower valuations,” the analysts said.

As a result, Barclays and Virgin Money UK both remain ‘buys’ and are preferred over Lloyds and NatWest Group, which remain a ‘hold’ and a ‘sell’ respectively.

The analysts said “excess liquidity increases rate sensitivity of UK banks” and suppresses the lenders’ net interest margins “while there is still risk of rate cuts”.

While the banks can all boast resilient asset quality and higher coverage ratios, which the analysts said are all welcome, “unemployment is too uncertain to materially change the outlook”.

Among the global banks, Deutsche prefers Standard Chartered, still kept at ‘hold’ with a price target of 415p, over HSBC, which remained a ‘sell’ with a target of 300p

[loganair] 17/8/2020 21:28

Lloyds Banking Group share price target has been cut by Deutsche Bank, which remains cautious about the sector.

The UK’s biggest lender saw its price target cut to 32p from 34p by the German bank’s analysts in a note to clients on Monday.

“We remain cautious on UK banks and prefer banks with less rate sensitivity, more diverse income, flexible cost bases and at lower valuations,” the analysts said.

As a result, Barclays and Virgin Money UK both remain ‘buys’ and are preferred over Lloyds and NatWest Group, which remain a ‘hold’ and a ‘sell’ respectively.

The analysts said “excess liquidity increases rate sensitivity of UK banks” and suppresses the lenders’ net interest margins “while there is still risk of rate cuts”.

While the banks can all boast resilient asset quality and higher coverage ratios, which the analysts said are all welcome, “unemployment is too uncertain to materially change the outlook”.

Among the global banks, Deutsche prefers Standard Chartered, still kept at ‘hold’ with a price target of 415p, over HSBC, which remained a ‘sell’ with a target of 300p