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Investments | Lloyds Banking Group Plc (LLOY.L)

Daily Telegraph:

António Horta-Osório, the chief executive of Lloyds Banking Group , is to take a break from the role while he recovers from “extreme fatigue”. Tim Tookey, the Lloyds finance director who leaves next February to join Friends Life, is to replace him.

This news was enough to to wipe even more of Lloyds shares. They were on 37p last Friday and my target price was 30p. I bought this morning for 29p. A good investment? Who knows…

Smile with tongue out

The company is large and 40% owned by the government now. There are plans to sell off lots of branches. It is effectively four banks because Lloyds took over Halifax Bank of Scotland. Before 2009 it was the Lloyds TSB group.

There will be a major announcement from the company next week, it’s hard to say what effect that will have on share prices. Investments are long term and the company does seem to have long term prospects as it sells off some branches and improves the overall business.

This is a not investment advice and investments can lose you money! I simply tell you what I have bought and I tend to buy when others sell!

There are more interesting blogs on the Home Page. The one I posted earlier includes a movie, Pirates of the Caribbean! Humour, information and now free movies; where will it all end…

Smile with tongue out


5 responses

  1. Dave Hinchcliffe

    Hi Mike,
    Hope youu are keeping well. I personally think Lloyds are a great punt. They mainly fell on hard times when the then labour government coerced them into rescuing the toxix HBOS group.

    3, November 2011 at 6:27 pm

  2. Hi Dave,

    I think Lloyds is a better bank than HBOS. I have a Halifax account and think it’s horrible! MY current account is with Barclay’s and I find the Halifax site confusing and it has errors. One analyst forecast the shares would double in price in a year and some expect them to do even better. All share prices bounce around now, depending on what people have to panic about today.

    My health is improving, I was very ill though. Things are quite good now, I went out taking photos today even though it was raining.

    Thanks for the comment. 🙂

    3, November 2011 at 9:41 pm

  3. Dave Hinchcliffe

    Keep your spirits up Mike. I like your blog. Yours together with “Mean Queen” and “Frugal Queen” IMHO are true to life. I will comment on a regular basis with useful tips.


    4, November 2011 at 8:03 am

  4. Thanks Dave,

    I have a frugal blog today, it’s scheduled to be published in about 2 minutes! I have to write a blog for tomorrow; I’ll be too busy on Saturday. I have no idea what to write about, but I usually think of something! 🙂

    4, November 2011 at 9:59 am

  5. Pingback: Investments update | Mike10613's Blog

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