I wonder if this is a buy again after the pause for breath - any thoughts anyone?

Interim Management Statement due Tuesday, 2nd November 2010. SP should be nudging 80p before then in anticipation of excellent trading, particularly as more & more of the "old" fixed rate mortgages have reverted to the far more profitable Variable Rate Mortgages combined with lower bad loan provisions. Definitely a "BUY". I still stand by my earlier SP predictions - 85p by end 2010 & 100p by Feb 2011 when Finals announced.

Anyone think its likely that it'll reach mid 80's after the 2nd November statment then?

I hope so

Seems a little less likely with the news today! Still a fair few days left though...

I had expected the sp to show a small rise on the job losses - evidence of driving down costs/improving intergation/synergy of the merged businesses.

I doubt cutting jobs will really ever have a positive effect, well especially in this economy with unemployment so high already etc...

Usually job losses does mean a leaner more efficient company, which is then reflected in profitability. Exposure to the UK mortgage market looks to be the negative weight on this stock, imo.

Comment from Morgan Stanley this morning:
"LLOYDS [U/W; PT 63p]: CFO meeting feedback - profit warning in Feb?
1) it's all about the macro and there's still a lot of uncertainty, esp with the UK spending review coming this week. LLOY continue to use 2% GDP for '11 vs our 1% and it feels like risk is to downside on their assumptions.
2) reining in some of bulls on margin, as they've extrapolated H1 performance. Also downside to '11 margins as they are relying on liability spread expansion and interest rate rises keep getting pushed out.
3) credit demand is low and getting worse - more risk to revenues. Means there could be more capital growth but with still lots of uncertainty over regulation there's no guarantee they'll be able to pay it out.
None of these problems are unique to LLOY, but it is the most crowded long, and almost all the sellside love it. It may be too early to expect any changes to guidance at tdg stmt on 2nd Nov but could be a possibility for FY results in Feb, esp if we have new management by then...stay U/Weight."

Harry pretty one sided opinion, what about all the rationalisation savings,possible sale of assets etc MS must be looking to buy in on the cheap!

Morgan Stanley are usually anti LBG.

Share price is very dissapointing, I thought it would at least retain its price around 70p waiting for the nov 2nd results?

maybe a big effort to "shake out" the many with long positions before the progress report coming shortly.

I don't think Lloyds has underperformed the other banks over the last 6 months.

skinny banks generally out of favour at present because of the uncertainty created by indecision of regulators and politicians. however Cameron & co will want to realise the huge investment in LLOY and RBS asap so unlikely banks will be heavily penalised one way or another.

Halifax - I think Osborne has already said that he is not in a hurry to realise the investment. Both LLOY and RBS have been above the required level (74 &50).

skinny Ossie will want to gradually reduce the peoples shareholding probably in tranches starting after their final results next year, in a similar way the government did with BP. years ago. There is no "required" level only a price based on performance and potential.

Back to 55p maybe? Presumably all down to their exposure to the Eire property market.

if 55p hit, brilliant buying opp for the long term!

How long?