Institutions my friend - will make a killing in the long run. Probably worth a punt for the long term. When the dust settles and 1 or 2 positive statements come out be back up around the 1 mark. Personally, think there are better opportunities elsewhere. Surprised Barclays didnt take a knock on effect - seems the Banks are holding their own at present.

Business Financial Newswire
"Banking group Lloyds is giving shareholders until noon on 5 June to decide whether to take part in its placing to redeem the 4bn preference shares held by the Treasury.

Shareholders will be able to subscribe for 0.6213 new ordinary shares for every ordinary share held at an offer price of 38.43p a piece.

Any shares not taken up are expected to be placed in the market by the joint bookrunners - Citi, J.P. Morgan Cazenove and UBS - at the conclusion of the open offer process at a price not less than the 38.43 pence offer price plus associated placing expenses. "

really basic question.....how long do those with sharper brains/insight then a true blonde think it will take for lloy to recover to lets say 100p.......

watcher

Considering the Market is down today the shares are performing just slightly down from the calculation X - placing
closing yesterday at 100.30p when the spread was 99 / 99.2 so the real calculation should be on the spread instead of UT, on doing that the opening should have been 75.80p

HOW THE OTHER BANKS ARE PERFORMING TODAY

Reaching the conclution that in fact LLOY is performing just like the other banks

CLOSING PRICE yesterday after X - placing 75.80p

now 73.50p - 2.30p

        MIDDAY MARKET REPORT

Among the bankers, Lloyds tumbled 27.2p to 73.1p as they turned ex-entitlement, ahead of the expiry of the placing and compensatory open offer.

Others in the sector followed the trend, with Barclays off 10p at 284.75p, HSBC 13.5p lower at 561.5p and Royal Bank of Scotland down 1.3p at 41.8p.

Hell of a lot more buys than sells as well - Institutions filling their boots.
I used to work on Rbs half the price of Lloyds, Lloyds one third the price of Barclays. Worked well when day trading in the past - Gone out the window today !! But it'll get back to about the same levels in a couple of weeks.

Wow! LLOY certainly look very encouraging. Going the right way 4 me.
71p now.

i hope your employer sacks you hyleo.....if you have a job which i doubt........failing that i hope all supermarkets go bust cos of lack of finance etc and all other shops.........then no matter how much money you have hyleo, you will starve to death, lol

hlyeo98

A CUNT is allway a CUNT, and event your 19 HOLE can not beat it.

LETS SAY : LOTS OF BARK, but no bite

---------------

Profit taking at the banks at the end of the day

at least h98 says what he thinks, right or wrong.
i find him to be right most of the time. but thats just my opinion.
regards
jkd

I agree with you, jkd. At least h98 voices his opinion and I think he has got it right this time. Lloyds is playing a desperate card on the table and I, too, do not think it's going up, but down. See the 2 articles below.


Lloyds says UK asset plan may change
By Steve Slater


LONDON (Reuters) - Lloyds Banking Group said the terms of a state-backed plan to insure its riskiest assets might alter, and regulators could force it to make disposals, sending its shares down more than 6 percent.

The part-nationalised bank said on Wednesday it expects to sell or exit from certain parts of its business to win approval from European Union regulators for the British-state backed insurance scheme, which could include core businesses and could be "materially adverse" to the group.

Lloyds agreed in March to insure 260 billion pounds of risky assets under the government's asset protection scheme (APS), to shield the bank from massive losses if the recession deepens.

"Discussions and negotiations with HM Treasury to finalise the terms of the group's proposed participation are continuing and, although this is not currently expected by the board, may result in changes to the terms announced on 7 March," Lloyds said.

It expects to conclude details "over the next few months."

Lloyds said last month bad debts on corporate loans would be more than 50 percent higher in 2009 than last year, which prompted fears it may have to pay more for the APS as the quality of its assets had worsened.

The bank's takeover of HBOS earlier this year has left it 43 percent owned by the state and exposed to risky corporate and home loans.

HBOS suffered a 10.8 billion pound loss last year and it is likely to drag Lloyds to another loss this year and maybe next, which prompted Chairman Victor Blank to this week announce he will step down in the next year.

STATE AID HURDLES

In a letter to shareholders relating to a 4 billion pound fundraising, Lloyds said the APS is subject to obtaining state aid clearance from the European Commission.

"The group expects to agree a forward plan involving the cessation or disposal of certain parts of the business," the bank said. It expects this to involve non-core businesses, but it could have to divest or exit core businesses, it said.

"The effect of requirements to divest or exit businesses and/or to abide by behavioural restrictions may be materially adverse to the interests of the group," it said.

An offer prospectus typically carries warnings about potential risks.

But the letter highlighted "the political risks associated with government holding a large part of the capital base and ... providing substantial liquidity assistance," analysts at Credit Suisse said in a note.

By 10:15 a.m. Lloyds shares were down 6.3 percent at 71.8 pence, the biggest FTSE 100 faller.

Its price was adjusted down before the open as investors no longer qualify to subscribe for discounted new shares in a share offer. That knocked almost 24p off Tuesday's closing price.

Lloyds is offering shareholders the chance to buy 0.62 shares at 38.43p for each Lloyds share owned, which will see about 10.4 billion new shares issued.

The bank agreed to give the government 15.6 billion pounds in non-voting "B" shares to pay for its participation in the APS, and will take a "first loss" of up to 25 billion pounds on the assets.






Taxpayer faces 17.6bn loss on bank investments


By Philip Aldrick Banking Editor
Last Updated: 7:14AM BST 21 May 2009

The figures, compiled by analysts at Exane BNP Paribas, make even a partial sale of the Government's stake in either bank before a general election next spring look highly unlikely. The analysts calculated that the state's holding in Lloyds is 10.9bn underwater and 6.7bn out of the money at RBS.

"We continue to view UKFI [the body managing the investments] as a (very) long-term shareholder," Exane's Ian Gordon said. "We assume that the test likely to be applied by UKFI is one of absolute return to (at least) break-even. That could be a long wait."

UKFI has said it expects to sell the stakes piecemeal back to the market as soon as possible. The taxpayer owns 43.4pc of Lloyds, acquired at an average of 124.55p, and 70.3pc of RBS, bought at 51.21p. The stakes rise to 62pc and 95pc respectively once the "B" shares used to pay for the toxic debt insurance scheme are included.

Lloyds shares yesterday fell 6.09 to 70p after adjusting to take account of its 4bn placing and open offer. RBS, which announced 700 job losses in IT and property yesterday under plans to cut around 20,000 staff globally, fell 0.7 to 42.4p.

Some of the potential losses in Lloyds could be recovered sooner, though, after the lender warned the Government might renegotiate the terms of the asset protection scheme (APS). In the prospectus, the bank said: "Negotiations are continuing and, although not currently expected by the board, may result in changes to the terms announced on March 7."

Credit Suisse pointed out that the prospectus said the state could seize Lloyds' 3.2bn of deferred tax assets in "the occurrence of certain specified events". Lloyds said it can avoid the events.

The Treasury sought to downplay the warning, saying: "The Government is now undertaking a detailed examination of the assets and will announce final details in the coming months. We have not changed our initial assessment of the overall taxpayer exposure."

The prospectus further revealed that European regulators could force Lloyds to unpick its merger with HBOS. In return for state aid approval, the EU may demand "the cessation or disposal of certain parts of the business [that] ... could require the group to divest or exit core businesses".

Lloyds was outlining potential risks ahead of the placing and open offer to redeem the 4bn of preference shares the Government took as part of last October's bank recapitalisation. It is issuing 10.4bn shares at 38.43p a 54.6pc discount to the closing price on May 13.

Lloyds is paying the Government an underwriting fee of 60m and covering its legal costs of 30m. The taxpayer will make a further 40m as the terms of the deal are that the preference shares are redeemed at 101pc of the issue price.

The 100m the Government will make on the deal comes on top of the 995m in profit the Bank of England has made from its emergency support packages for the financial system, but will have little impact on the billions of potential losses.

Lloyds said converting the preference shares into stock will remove the annual 480m cost of paying dividends on the stock, and "will thereby improve the group's profitability, cashflow, liquidity and organic capital generation".

It will add 0.8 percentage points to its core tier one capital, taking the ratio to 6.7pc before the effect of the APS, which is expected to lift the ratio to 14.5pc.

Thanks for your support, justyi and jkd.

I realise some people loves their shares too much.

LLOY 69p now.

hlyeo98

I THOUGHT NOT MUCH OF YOU FROM THE START, I gave my reasons why, but now I got you with the TROUSERS down once again,
reason :
hlyeo98, jkd and justyi are a different user nickname, but the same CROOK
Just using a different user name every different day though

MoneyAM Username: hlyeo98
Real name: unknown
Location: somewhere in the ether
-----------

MoneyAM Username: jkd
Real name: unknown
Location: somewhere in the ether
------------

MoneyAM Username: justyi
Real name: unknown
Location: somewhere in the ether
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justyi - 12 May 2009 13:26 - 33 of 80
Keep on selling Lloyds to 80p. It dropped 5% today.

---------------
hlyeo98 - 19 May 2009 10:45 - 49 of 80
I feel LLOY could go down to 50-60p after the placing...very big gamble.

I think you are getting paranoia because I have proved you wrong this time.

It's understandable as LLOY is only 66p now.

AND IT WILL GO TO 50-60P. MARK MY WORDS!

re - MARK MY WORDS!

Your words are full of SHIT ( using your own words )

If the market goes down, it means everything on the FTSE goes the same way.
FTSE slumps to triple-digit loss


re - I have proved you wrong this time

NEVER, my comments were related to the opening price after X - placing

so it was me who was right, do not ever forget

A good rant always brightens up the day when the screen is all red!!!
Interesting that your profile is also blank MRSI !!! Perhaps you are hlyeo also, just playing us all for mugs! ;o)

Sensible investors will take up their rights taking the long term view that LLOY will be around long after many of us are pushing up daises.

Halifax, I intend to be around a long time!