Why Lloyds chart suggests 100p is possible

StockMarketWire.com
The Government has reduced its stake in Lloyds Banking Group to below 3%.

HM Treasury has sold 2,775,972,160 shares leaving it with a stake of 2.95%.

How much profit did we make?

Harry, Actually the govnt has sold 671,365,850 shares this time to bring their holding down to below 3%

I don't think HMG are trying to make a profit. In fact they have specifically said this in the past as it is not their job to trade equities. So, I suspect they are pretty much breaking even over the total trades required to exit completely from LLOY.

How do you arrive at that figure opto?

The only data I can see is from
http://www.moneyam.com/action/news/showArticle?id=5512745

2,104,606,310 = 2.95%

Number Number Number Number of % of voting
of of of shares voting rights (x)
Shares Voting rights
Rights
------------- ------------------ ------------------ ---------------- ------------------------------ -------------------------
Direct Direct Indirect Direct Indirect
(xi) (xii)
------------- -------------- -------------- ---------------- ---------------- ------------ ------------ -----------
GB0008706128 2,775,972,160 2,775,972,160 2,104,606,310 2,104,606,310 2.95%
------------------ ------------------ ---------------- ---------------- ------------ ------------ -----------

Harry, they never c&p correctly but but the last figure is the remaining holding, the previous 2 are the before and after...doesn't matter a lot though does it :-))

Hmmmm......I hope your day job isn't in accountancy?!!! ;o)

As you say, not too important. I wonder if HMG can now dump the rest in one go which would presumably change the makeup of the board and attract investors.

previous to triggring action 2,775,972,160
after triggering action 2,104,606,310
----------------
Shares disposed of 671,365,850

Hope it makes it better to
see Harry :-)

You're right opto. Apologies.
Good job my day job isn't accountancy.
Interesting that the Stockmarketwire.com release I posted earlier has made the same mistake and has now altered it's text. The danger of 2nd hand info!

JP Morgan Cazenove Overweight 69.00 - - Reiterates

They've pinched my chart!

Why Lloyds Banking is among top share tips in Europe

What the charts say about Lloyds Banking - By Alistair Strang | Wed, 22nd March 2017

Whatever provoked the misery in market fortunes during the FTSE 100 (UKX) Tuesday afternoon session was a bit weird.

Generally, when this sort of nonsense happens, we experience a raft of shares with drop triggers being hit. But it didn't happen so, therefore, we smell a rodent.

Even the retail banks, always the first to mimic a Champions League footballer being assaulted by an aggressive buttercup, avoided flinging themselves off a cliff.

Lloyds Bank (LLOY) is a case in point, again!

Our last article provided criteria for Lloyds to climb to 75p, once it achieved the herculean task of actually closing a session above the blue line on the chart.

Normal "rules" signal it really wants to reach 75p, but even intraday traffic above 71.217p will now suggest it heading to our 75p ambition. Secondary, above 75p, is now at a longer term 86p.

If trouble is planned, the red line is 67.153p as anything below this is liable to provoke an initial 63.75p with secondary, if broken, around 60p and hopefully a bounce.

We've shown a dashed red line across the bottom of the chart. To utterly foul up our calculations signalling 75p and beyond, the share price would need to weaken below this level - currently 57p.

For now, it looks safe and boring, a description no longer worthy of a UK retail bank.

Berenberg today downgrades its investment rating on Lloyds Banking Group PLC ORD (LON:LLOY) to sell (from hold) and left its price target at 55p.

Credit Suisse today (28/03/17) reaffirms its neutral investment rating on Lloyds Banking Group PLC ORD (LON:LLOY) and set its price target at 70p.

Jefferies International today (3/04/17) reaffirms its buy investment rating on Lloyds Banking Group PLC ORD (LON:LLOY) and raised its price target to 86p (from 82p).

Ex-divi today (0.5p)

H it had better be 2.2p in total

Ah, yes. I didn't see the first RNS! (1.7p + 0.5p)