Uncertainty Around Hit to Lloyds Banking From Motor Finance Probe Prompts Downgrade -- Market Talk

Dow Jones10-30

1021 GMT - Lloyds Banking Group could see an up to 2.1 billion-pound charge from litigation stemming from its motor finance business, Morgan Stanley says in a note. A Friday court ruling widens the potential scope of a continuing investigation in the motor finance sector from the Financial Conduct Authority. Lloyds is exposed through its Black Horse brand, the U.K.'s largest motor finance provider. "We also acknowledge it could take several quarters before we have clarity, and this may affect buyback expectations," analyst Alvaro Serrano writes. He increases the charge estimate from its previous base case--the mid point of the 700 million-1.5 billion pound range--as the liability is increasingly difficult to size. The broker lowers its rating to equalweight from overweight. Shares fall 1%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

October 30, 2024 06:21 ET (10:21 GMT)

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Lloyds is exposed through its Black Horse brand, the U.K.'s largest motor finance provider. \"We also acknowledge it could take several quarters before we have clarity, and this may affect buyback expectations,\" analyst Alvaro Serrano writes. He increases the charge estimate from its previous base case--the mid point of the 700 million-1.5 billion pound range--as the liability is increasingly difficult to size. The broker lowers its rating to equalweight from overweight. Shares fall 1%. 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A Friday court ruling widens the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LYG","symbol_name":"劳埃德","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479271360","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479271360","pubTimestamp":1730283660,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1021 GMT - Lloyds Banking Group could see an up to 2.1 billion-pound charge from litigation stemming from its motor finance business, Morgan Stanley says in a note. A Friday court ruling widens the potential scope of a continuing investigation in the motor finance sector from the Financial Conduct Authority. Lloyds is exposed through its Black Horse brand, the U.K.'s largest motor finance provider. \"We also acknowledge it could take several quarters before we have clarity, and this may affect buyback expectations,\" analyst Alvaro Serrano writes. He increases the charge estimate from its previous base case--the mid point of the 700 million-1.5 billion pound range--as the liability is increasingly difficult to size. The broker lowers its rating to equalweight from overweight. Shares fall 1%. 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