Latest news with #LloydsBankingGroupPlc
Mint
4 days ago
- Business
- Mint
European Stocks Rebound, Swiss Stocks Dip on Shock US Tariffs
European shares recovered after sliding by the most since April in the previous session, while the Swiss market retreated as traders had their first opportunity to react to a 39% US export tariff. The Stoxx Europe 600 Index gained 0.9% by the close, with banks and insurance stocks outperforming the most. Automakers and retailers were among the laggards. Switzerland's benchmark SMI Index fell as much as 1.9% before paring declines to 0.2% as trading resumed following Friday's public holiday. The tariff announced last week is one of the steepest globally, and the Swiss government said Monday it was determined to give the US better trade terms as it seeks an improved deal. 'It remains to be seen what impact the Swiss tariffs will have,' said Daniel Murray, chief executive officer of EFG Asset Management. 'This is partly because there is always the possibility that Switzerland is able to negotiate improved terms.' UK lenders rallied after they won a major reprieve in a pivotal UK car finance case. Close Brothers Group Plc jumped 23% while Lloyds Banking Group Plc climbed 9%. Despite Monday's upbeat session, the Stoxx 600 has kicked off August with questions around the impact of US tariffs. In addition to Switzerland, Trump also announced a slate of duties on countries including Canada, New Zealand and South Africa last week. The pharma sector is also in focus as the US president pushes for lower drug prices. The benchmark index could face further volatility as it navigates historically weak seasonal trends over August and September. For more on equity markets: You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here. With assistance from Sagarika Jaisinghani and Charles Riley. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
20-05-2025
- Business
- Bloomberg
Lloyds Sets Up Team of Bankers to Focus on CO2, Nature Credits
Lloyds Banking Group Plc has set up a desk to help clients buy and finance carbon offsets, as it moves into a market that's seen a retreat by peers including HSBC Holdings Plc. London-based Lloyds named Emily Martin its head of voluntary carbon and nature markets earlier this year, according to her LinkedIn page, which was confirmed by a spokesperson at the bank. Martin will help corporate and institutional clients in the voluntary carbon and nature markets, her LinkedIn profile shows.
Bloomberg
01-05-2025
- Business
- Bloomberg
FTSE 100 Snaps Best Winning Streak Since 2017 on Glum Earnings
London's FTSE 100 edged lower, snapping its longest gaining streak since 2017, on a slate of disappointing earnings. The export-heavy FTSE 100 fell 0.1% at 8:13 a.m. in London. Lloyds Banking Group Plc dropped 1.9% as it missed earnings expectations and set aside more to prepare for a worsening economy.
Bloomberg
01-05-2025
- Business
- Bloomberg
Lloyds Income Boosted as Homebuyers Rushed to Beat Stamp Duty
Lloyds Banking Group Plc ramped up lending in the first quarter, helping it broadly meet earnings expectations even as it set aside more to prepare for a worsening economy. The British bank posted pretax profit of £1.5 billion ($2 billion), compared to the average of analyst estimates of £1.54 billion, according to a statement on Thursday. Mortgage balances grew by nearly £5 billion as homeowners rushed to beat an increase in stamp duty.
Bloomberg
04-04-2025
- Business
- Bloomberg
HSBC, Lloyds Provide £600 Million Debt for Kee Safety Buyout
HSBC Holdings Plc and Lloyds Banking Group Plc have together led about £600 million ($781 million) of debt financing to support the acquisition of UK-based safety systems firm Kee Safety. Both banks are anchor lenders for the transaction, and Lloyds' portion included cash from its joint-venture with Oaktree Capital Management, which was announced last year, according to people familiar with the matter who asked not to be identified because the deal is private.
