LYG Stock Recent News

Lloyds Banking Group PLC (LSE:LLOY) plans to expand its private rental housing arm into social housing, while also converting some of its disused office sites into more affordable housing. The UK's largest lender is selling a former data and office space in Pudsey, West Yorkshire, to a housing developer with the agreement that 80 new homes will then be rented at about half the usual rate.

Lloyds Banking Group PLC (LSE:LLOY) is tightening the use of taxis and business class flights for its staff as part of a cost-cutting drive. The UK lender will alter these travel policies across its 60,000-strong workforce to control expenses and reduce its carbon footprint.

Keefe Bruyette & Woods (KBW) remains a fan of Lloyds Banking Group PLC (LSE:LLOY) after taking a closer look at the business banking arm, which contributes about 15% of the group's earnings. This follows a seminar where Lloyds showcased its strategies for digitisation and diversification, drawing favourable comparisons to Barclays' offerings for small and medium-sized enterprises (SMEs) and mid-sized companies.

Homeowners with mortgages should not expect a return to the ultra-low interest rates enjoyed in the aftermath of the global financial crisis, Lloyds Banking Group PLC (LSE:LLOY) boss Charlie Nunn said. The chief executive of the UK's biggest lender also said that whichever party wins next week's general election will be extremely limited in how much they can invest due to increased levels of government debt in recent years.

Lloyds Banking Group PLC (LSE:LLOY) rating was unchanged by RBC whilst its analyst team lifted its sights for NatWest Group – with the price target moving to 360p from 355p. NatWest, which this week was paid to make an acquisition, is benefiting from a better-than-expected net income environment, according to RBC, which pointed to the UK banking sector seeing ‘some growth in deposits' and a ‘further slowdown in migration to interest-bearing accounts'.

Atom Bank, the digital challenger bank, hailed its best year yet but cautioned that it is still barely making a dent in the dominance of the major high street banks such as Lloyds and Natwest. Mark Mullen, the mortgage lender's chief executive, told PA it was proving a challenge to “disrupt the status quo” in the banking sector, even though it was doing well.

Of the five FTSE 100 banks, domestic lenders are preferred to their Asia-focused peers by analyst Jonathan Pierce at Deutsche Numis Research, with Lloyds Banking Group PLC his top pick in the sector. In a note to clients today as he assumes coverage for the London's five blue-chip banks, Pierce says: "The outlook for bank earnings, capital generation and book value, particularly in the context of future reductions in short rates, is a critical part of any investment thesis right now.

Lloyds Banking Group will leave one of its London office sites as part of a consolidation into three remaining premises, the British bank said on Thursday.

NVIDIA Corp (NASDAQ:NVDA), National Grid and easyJet were the most popular stocks for retail investors last month, while fund investors were looking for low-risk bonds, US tech and Indian equities.  The rights issue at National Grid caused its share price to slide, which prompted opportunistic buyers to snap up the FTSE 100 listed energy network at a discount, making it the second most bought share in May on Interactive Investor (ii), the second largest fund supermarket.

Lloyds Bank (LON: LLOY) share price continued its remarkable comeback this week after the latest UK inflation numbers dampened hopes of rate cuts. It is in its third consecutive week of gains and is hovering at its highest level since December 2019.