Lloyds' Fillip to Banking Sector Bucks Wider Trend ; Market Report

Birmingham Post › August 06, 2009

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Summary

Shares in part-nationalised Lloyds Banking Group raced 11 per cent ahead yesterday after the bank said the worst of its HBOS bad debts were behind it.

Lloyds posted a pounds 4 billion loss on the back of reckless lending at HBOS, but chief executive Eric Daniels offered comfort to beleaguered investors when he forecast charges will be lower in the second half and reduce next year.

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Lloyds' Fillip to Banking Sector Bucks Wider Trend ; Market Report

While the bank provided a fillip for the financial sector, it failed to lift the wider market, which closed down 24.2 points at...

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