any one got a feelling in their water how far LLoyds will go looking to to buy but just dont know when they are low enough

Market Ticker has gone short term bullish most unusual esp, financials

Here we go again falling like a stone hw low can they go this time ?

TRADING STATEMENT

"The Board of Lloyds Banking Group plc (the 'Group') announces an update to the trading performance of HBOS plc (HBOS) and Lloyds TSB Group (Lloyds TSB) for the year ended 31 December 2008 and on the capital position of the Group as at 31 December 2008. The figures quoted in this statement are preliminary estimates and unaudited.

Lloyds TSB traded profitably and satisfactorily in 2008 and expects to report a profit before tax from its continuing businesses, including the impact of approximately 1.3 billion from market dislocation, of some 2.4 billion. On a statutory basis, adjusting for the impact of insurance volatility of c.0.75 billion, and aggregate provisions of c.0.4 billion in respect of the Financial Services Compensation Scheme (FSCS) levy, certain historic US dollar payments and goodwill write-downs, profit before tax is expected to be in the region of 1.3 billion, before the policyholder interests volatility charge which is currently expected to be c.0.5 billion.

Since its 12 December 2008 trading update, HBOS's 2008 trading has been further impacted by increasingly difficult market conditions, an acceleration in the deterioration of credit quality and falls in estimated asset values. The Group expects HBOS to report an underlying loss before tax of some 8.5 billion for the year ended 31 December 2008. On a statutory basis, adjusting for the impact of short term fluctuations (c.0.25 billion), loss on sale of businesses (c.0.85 billion), FSCS levy (c.0.2 billion) and goodwill impairment (c.0.15 billion), the loss before tax is expected to be approximately 10 billion, before the policyholder tax charge which is currently expected to be approximately 0.9 billion. The key elements of the loss are the 4 billion impact of market dislocation and approximately 7 billion of impairments in the HBOS corporate division. The market dislocation has been driven by deterioration in asset quality and falling market valuations. The impairments are, principally as a result of applying a more conservative provisioning methodology consistent with that used by Lloyds TSB, and reflecting the acceleration in the deterioration in the economy, some 1.6 billion higher than our expectations when we issued our shareholder circular at the beginning of November last year.

The Board currently estimates that the Group's Core tier 1 capital ratio at 31 December 2008 will be within the range of 6.0 - 6.5 per cent, which is significantly in excess of its regulatory capital requirements. This reflects the unaudited financial results for both Lloyds TSB and HBOS and is adjusted for the completion of recent capital raisings, and the initial fair value analysis of the acquired assets and liabilities which includes the regulatory capital benefit of the fair valuing, on acquisition, of HBOS's own debt (the Group will provide a further update on these matters when it announces its full results on 27 February 2009). On the same proforma basis, the Group continues to expect its Tier 1 capital ratio, at 31 December 2008, to be in excess of 9 per cent."

Jesus H Corbett a complete collapse of the banks...

No, just LLoy down 23%. Slight overstatement mitzy!

They should herd the Lloyds board over a cliff for taking on hbos

This is so amusing...these banks going on a roller coaster ride.

Gordon should execute a return of bonuses received by Andy Hornby, Tom Mckillop, James Crosby, Fred Goodwin, John Varley, Lord Stephenson, etc. to gain back confidence in the economy.

These fellas are highway bank ROBBERS.

BONUSES SHARES, NOT MUCH LEFT.

Dick Turpin moves to the City!

No doubt the Lloyds crew will be having a major clearout, but it beggars belief why they ever got involved with HBOS, whose former directors appear to have acted at best recklessly and at worst criminally.

This is a slight overreaction. Hedge funds (US Paulson) taking advantage to make another few million quid. Managed to trade the FTSE by SB so made a few quid.

bloody hell! .... Toya just texted me about this ..... haven't been watching the banks at all of late, but may be worth seeing if fall is heaviliy overdone and/or if other banks will also crash out

My target remains 25p and judging by the chart it may fall low40's.

pity these bankers can;t be cleansed

It was rather dramatic!

Dearie me ..!

now holding very steady as it has done for the last hour or so

It's great being a banker, you get to squander all the money and cause lots of misery eg. family losing their roofs, workers losing their jobs, people committing suicide,children become orphans and get away with it.

They certainly have no CONSCIENCE.

Just maybe Eric Daniels is writing down everything/clearing the decks after all it was his decision to buy HBOS perhaps with a little persuasion from Gordon.