Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on LLOYDS BANKING GROUP PLC. We currently have 10 research reports from 3 professional analysts.
|12Jan17 05:31||RNS||Holding(s) in Company|
|11Jan17 12:50||RNS||Director/PDMR Shareholding|
|09Jan17 07:00||RNS||Holding(s) in Company|
|03Jan17 10:36||RNS||Block listing Interim Review|
|20Dec16 07:02||RNS||Acquisition of MBNA Ltd|
|14Dec16 03:14||RNS||Director/PDMR Shareholding|
|13Dec16 02:00||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
LLOYDS BANKING GROUP PLC
LLOYDS BANKING GROUP PLC
21 Dec 16
"With markets winding down for the Christmas and New Year break, International equities remain very much the favoured investment. The continuing rout across global bond markets appeared to gather pace yesterday from the fallout of the supposed terrorist attacks in Germany and Turkey, as investor concern for a potentially wider series of IS-directed extremist assaults across Europe’s capitals to unnerve its populations, the backlash of which could result in further sharp swings toward more populist governments during the various presidential and general elections expected in the New Year. Right now the threat may not seem very real, but with the possibility of an early vote to replace Italy’s recently-installed caretaker government and France’s presidential election scheduled for May, well-prepared opposition parties in the shape of Beppe Grillo’s Five Star Movement and Marine le Pen’s National Front etc. are positioned to challenge the very existence of the Eurozone. During these quite exceptional times, with authorities still apparently totally out of touch with their electorate, such a threat simply cannot be discounted, the ultimate cost of which could even be for independent nations to choose reversion to their legacy currencies with the potential to create widespread default. Such lingering fears will likely hinder Europe’s opening this morning, despite the Dow Jones chalking up yet another all-time high overnight, closing just shy of the psychologically important 20,000 mark, with all the principal US markets also making reasonable gains as optimism that Trump-inspired reflation and proposed investment will provide a significant medium-term boost to earnings. Asia was also in a good mood, with broad gains seen in just about all regional markets most notably with even China playing catch-up following a couple of days of weaker trading as economists speculated on the potential for a PBOC-directed tightening of liquidity during Q1’2017. Other than release of Public Sector Net Borrowing figures this morning, the UK is not due to release any significant macro data, while the US is scheduled only to provide MBA Mortgage Applications and Existing Home sales data ahead of a larger swath of figures tomorrow and Friday. Very little is also happening on the corporate front this morning, with earning or trading updates due from just a few second-liners including CH Bailey (BLEY.L), Premaithia Health (NIPT.L) and Water Intelligence (WATR.L). Investors will, however, be keen for any further media comment following the Prime Minister, Theresa May’s reported backing for the UK to be permitted to enter a ‘transitional period’ in order to adjust to the new economic order prospectively resulting from Brexit. Accepting the need for a soft, rather than hard, landing could provide significant relief for those fearful that a clear post-Article 50 plan is still not in place. The FTSE100 is seen around 10 points weaker during this morning’s opening trade. " - Barry Gibb, Research Analyst
20 Dec 16
The group has announced the acquisition of MBNA, BofA’s UK credit business, for a £1.9bn cash consideration. The deal, which would increase LBG’s segment market share by 11ppt to a large 25%, still needs regulatory approval. If so, it is expected to be completed by the end of H1 17. On top of the obvious strategic rationale, the transaction has strong financial appeal.
Quarter impacted by “final” PPI provision and insurance volatility
27 Oct 16
The group posted a low £219m attributable quarterly profit impacted by £1.15bn litigation and conduct charges. The group made a “final” £1bn extra provision for PPI reflecting a one-year delayed claims deadline. The underlying profit before tax came in at £1,912m, down 8% vs the first half run rate. Full-year guidance has been maintained.
27 Oct 16
"Equities in London appear set for another weak opening this morning, as traders reckon with news of disappointing industrial profits growth from China and increasing doubts regarding OPEC's ability to coral members into participating in a joint production cutting agreement. The FTSE-100 is seen opening some 30 points down in early trading. Having grown an impressive 19.5% in August, China's National Bureau of Statistics' report that this figure had moderated to just 7.7% in September came as something of a shock, with slower output and sales across most of the 41 major sectors such as power, electronics and steel that are monitored by the government. This was enough to push all Asian indices, other than the South Korean Kospi into the red with, not surprisingly, the Hang Seng ending the principal casualty. The US markets were more mixed, with the Dow Jones managing a fractional gain on the back of a pleasing performance from Boeing, while continuing nerves across the tech sector following Apple's disappointing quarterly release meant that the NASDAQ was again the hardest hit. By informing investors that Eurozone inflation remains too weak ECB economist, Peter Praet, could be accused telling something everyone already knows, although reading between the lines he appears to be reinforcing expectations that the central bank will be again extending its EUR1.7tr bond purchase programme at its next policy meeting scheduled for 8th December. Meanwhile, UK traders will have a good batch of macro releases to chew over this morning, including 3Q Preliminary GDP figures, the BRC Retail Employment Monitor, the CBI's Monthly Distributive Trades Survey and Service Sector data; the US is also due to release Durable Goods numbers this afternoon. Deep in the reporting season, UK companies due to provide earnings or trading updates this morning include Barclays (BARC.L), BT Group (BT.A.L) and Debenhams (DEB.L), while Germany's troubled Deutsche Bank is also expected to release its latest figures followed this afternoon by US majors including Amazon, Ford and Twitter along with Apple's 'Hello Again' Mac launch event." - Barry Gibb, Research Analyst
Tips for 2016 – Q3 Update
10 Oct 16
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Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - Morning Song 19-01-2017
19 Jan 17
Actual Experience (ACT LN) 2017 – a milestone year for revenue | Bagir Group (BAGR LN) Independent NED appointment to strengthen Board composition | Bioquell (BQE LN) Reassuring pre-close statement | Carador Income Fund (CIFU LN) Q4 dividend increased to 2.75c, 0.5c higher than forecast | FreeAgent (FREE LN) Contract with Royal Bank of Scotland | Halfords Group (HFD LN) Excellent Q3 update, special divi and confidence in FX mitigations | N Brown Group (BWNG LN) Robust peak trading with reversal of drag from older titles | NCC Group (NCC LN) Interims confirm underlying business sound | St Ives (SIV LN) Downgrade | Summit Therapeutics (SUMM LN) Dr David Roblin appointed Chief Operating Officer and R&D President | Wilmington Group (WIL LN) Acquisition – Further scaling of Healthcare
N+1 Singer - Morning Song 16-01-2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.
What a year it was!
16 Jan 17
2016 got off to a rocky start. Not long into January, after just a few trading days, global equity markets lost more than US$4tn of value due to investor sentiment towards China’s economic slowdown and depreciating currency. This was immediately followed by a slump in the oil price. By the third week of January, Brent Crude hit its year low at $27.10 a barrel causing an immediate sell off in the energy sector. Once the Q1 dust had settled, attention turned to the UK’s vote on whether to remain a member of the EU. The Brexit vote result proved to be a genuine shock for markets, with many investors having believed that the UK would stay within the European Union. Attention soon turned to the equally ill-tempered US Presidential elections and all the political and economic unknowns that Trump’s victory has spawned. As a result, AIM, has seen a roller-coaster of a year in 2016.