Nomura has maintained its 'reduce' rating and 35p target price for Lloyds, saying that while the bank's third-quarter figures were in line with estimates, they are not going to drive upgrades for the core.

Nomura reckons that these results are likely to reassure investors that management plans are on track. "However, with the stock already rallying significantly over the year and no material upgrade to core earnings, we would not expect sustained strength on the back of these number and see the +7% opening print this morning as an overreaction on short covering," the broker said.

Nomura must be very short!

sp going like a train.

Hmmmm.......but a bit too much like a City Hopper rather than a TGV.

Hargreaves Lansdowne say 12 brokers buy 8 neutral and 7 sell, you pays your money and........

Lovely chart. Almost back to breakeven for me!

Looks like LLOY has a cunning plan to recoup losses on PPI mis-selling just received household insurance policy renewal notice, premium up almost 20% needless to say policy cancelled, do they think their customers are morons? Or are their managers morons?

12 month high this morning @45.6p

I knew I should have bought at 22p!

Looking to make new highs sometime soon.

Am in Mumbai the moment, but 50p would be good by the time I get home please!

Mumbai?.. Come home, all is forgiven -):

Norwich were doing so badly (along with all my stocks) that I decided enough was enough!!! .......Then I discovered Mumbai traffic (or Indian traffic generally) and realised it isn't so bad at home after all!!!

Have you tried the trains yet?

Yes. They have a waiting system for tickets which is crazy and the trains themselves are always packed, though the days of guys sitting on the roof are long gone. Still, a real experience for people who like travel & getting out of their comfort zone!

Sounds like the northern line!

Yep, similar, but with no hawkers selling cr*p on the platform at each stop!!!

"Looking to make new highs sometime soon."

46.34 hit earlier.

Banks were always going to recover once they'd put all their misdeeds behind them. it must be nearly impossible not to make money in the banking industry, if operating within the law and with even half assed management.

"....once they'd put all their misdeeds behind them" ...I thought they were having to make further provisions for misselling, so no guarantee that they have cleared out all the dead wood yet, imo. Nice to see 46p hold though.