Sterling was also buoyed by reports that UK Financial Investments (UKFI), which manages the taxpayers' stakes in Royal Bank of Scotland and Lloyds Banking Group, had held talks with investors to gauge their interest in buying stakes in the banks.

http://www.telegraph.co.uk/finance/financetopics/recession/5350842/Sterling-jumps-to-a-new-high-for-the-year.html

From The Sunday Times -- October 11, 2009

Lloyds ready to raise 11bn

Lloyds Banking Group is preparing to push the button on an 11 billion rights issue in the next two weeks, after lining up a powerful syndicate of investment banks to support the move.

UBS and Bank of America Merrill Lynch would act as lead underwriters on the deal, which would be linked to Lloyds attempts to cut its participation in a government-backed toxic loan insurance scheme. Citigroup, Goldman Sachs, JP Morgan Cazenove and HSBC have been lined up as joint underwriters.

The fundraising hinges on support from the Treasury, which would have to agree to pump more taxpayers money into the bank as part of the deal. It is also linked to negotiations with the European Commission over the level of state aid that Lloyds has received and the penalties it should pay as a consequence.

Alistair Darling, the chancellor, is this weekend considering the so-called Plan B proposals put to him by Lloyds. The Financial Services Authority and the Bank of England are also debating whether they are comfortable allowing Lloyds to back out of the Government Asset Protection Scheme (GAPS), which would shelter the bank from the worst potential losses it could suffer over the course of the recession.

If the authorities agree to allow Lloyds to raise the money privately, it is not clear that shareholders would back the move.

Lloyds has been told it has to plug a 25 billion capital hole if it wants to avoid participating in GAPS altogether.

As well as the 11 billion rights issue, the bank is examining plans to swap up to 15 billion of its debt securities for equity. It is also looking at a string of asset disposals that could include floating a minority stake in its Scottish Widows insurance empire.

Plan B also reveals how Lloyds could introduce further cost-cutting measures including more job losses if the economy slides towards the Bank of Englands gloomiest predictions.

market rocketing today......and lloy still down!

Rights Issue coming up, so can't see the sp going anywhere (except down) until that is sorted.

and they need to get rid of that yank idiot in charge.......since when did americans know about banking, lol

Don't tell "marni" ( silly cow) that VOG is well ahead or she may try to jump through the window,and the ambulances are just too busy at the moment as they are having a tea break

it was a coffee break on other thread......haha you even lie against yourself

Why on earth cant the gov try and be helpful to Lloy instead of trying to screw the last penny in expensive help. Where do they think the money comes from? LBG is so near being able to float free and start paying lots of lovely tax, all it needs is a little help, after all surely they understand the amount of effort required for RBS, Rock and all the other problems?

brown said yesterday he wanted banks shoaring up balance sheets and NOT GIVING MONEY OR WALTH TO SHAREHOLDERS.
labour gov dont want lloy or any bank to do well.......they are against any shareholder.........i reckon everyone in counry should sell their shares in every company and see meltdown of all companies and capitalism

roll on the revolution

That " cow " is more silly than I though, 2 hours has passed since the tea time so is coffe time after midday

I'm with you on that marni, only you go first! ;o)

Closing Market report

In the banking sector, Barclays edged down 4.35p at 372.65p on press reports that
it is to divest itself of 4bn of credit assets to help shore up its balance sheet, while
Lloyds slipped 2.39p at 91.61p as investors await news of its plans for a rights issue,
making it the biggest FTSE100 loser of the day.

RSI, Where was your resistance line?

... and where is your stop loss or you just gonna hang on forever and hope it comes back like VOG , MDX ????

I dont see your answer Master?.perhaps the Dealer might advise? I see you just just hit the 80s.bit Spandau then?

Strong support at 70p tabby ... think mr tosser has legged it.

Dilmy Palestinian friend knows his onionsbut they are not so good in a chocolate tort cake

RSI, Would you like to retract some of your previous remarks about the support line of LLOY and your certainty about foreseeing the future.

Perhaps, you are just another RAMPER?

IS IT TIME TOO BUY.

strange how master bator with mrsa has disappeared.......again!

hit 88p today.

on anr, he turned up again when sp rising......his other trick is to preten he is a sharp trader, in fact probably best ever! lol
so he is on anr for a quick buck.....but these are at high margins.
anyway sp goes down on 2nd day so he must still be in as 1st day he only made up sp on margins........so sp eventually tweaks up and hey presto the man from palestine turns up again saying this is a great share to trade........jes how long does he trade for.

but idiot arrogant master still holds these lloy crap.....actually i doubt whether he does as why watch sp drop 20p at least.