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Massive drop in Lloyds shares

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Published Date: 20 January 2009
Shares in the new Lloyds Banking Group plunged by 33 per cent to close at 65p last night after its first day of trading.
The collapse, which happened alongside a general fall in banking stock, came despite the Government's latest rescue package for the financial industry.

Following merger with Lloyds, an ex-HBOS shareholder who had 400 shares had their £238.12 holding of yesterday morning slashed to £157.30.

As Lloyds completed the acquistion of HBOS yesterday it announced it will slash more than £1.5bn from the annual costs by 2011.

The announcement led to fears that job cuts from the merger could be even more severe than first thought.

Analysts say between 10,000 and 30,000 staff could go nationally.



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  • Last Updated: 20 January 2009 2:17 PM
  • Source: Evening Courier
  • Location: Halifax
 
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1

visby,

20/01/2009 10:11:16
Nationally-more like locally! Remember, the headquarters are now in the banking capitals of London and Edinburgh!

I can't see Sir Victor Blank relocating to "scratterfax" can you?
2

Missbehave (Princess Fiona),

20/01/2009 11:13:13
the job cuts were feared to be 47,000 but now its much worse ot could be as hiugh as 30,000

who is taking the p---?
3

Missbehave (Princess Fiona),

20/01/2009 13:10:06
ps they have dropped 40% this morning fourty per cent!!
4

Donkey ......,

20/01/2009 13:21:28
PF - they are on their way back up now.....and were never anywhere near the RBS shareprice !

Why do the courier insist on getting everything wrong ... note headline "Massive Drop in LLoyds TSB Shares". they are not Lloyds TSB shares, they are Lloyds Banking Group Shares. When will we be able to count on you to get things right !
5

MsPerfect,

Mytholmroyd 20/01/2009 13:36:11
#4 is correct - we're not Lloyds TSB anymore, that name does not exist on the stock market. And as for the share prices - aside from HSBC, they're all pretty horrendous right now and have seen massive drops today! To be perfectly honest, I'm past worrying about my own job situation but am now more concerned about the state of the country as a whole and am wondering where the hell this is going to end up taking us! Not to mention the fact I bank with Barclays, and my wage gets paid in on Friday - they're down to 67p right now and it's not looking good! And about the job loss estimates of between 10,000 and 30,000 - that's a lot better than what we initially expected, there was talk of 50,000 when this story broke back in September! I agree that the Courier needs to get things right and maybe review past stories it's written?! Those figures also could not possibly be locally only - Calderdale only employs 6500 people, so there will be job losses all over the country. Aside from Calderdale, which has sites such as Trinity Rd, Copley, Dean Clough, Commercial St, Lovell Park and Westbank, the majority of job losses across the rest of the country are bound to be branches. I know I'm at risk - but I feel much safer down in Copley than I would in a branch, put it that way!
6

Missbehave (Princess Fiona),

20/01/2009 14:37:32
Mrs Perfect

dont worry Gordon has but 300 billion in the banks, if your wage aint there you get paid too much!!
7

Donkey ......,

20/01/2009 14:38:20
Well said MsPerfect. People should stop having a go at Lloyds Banking Group / HBOS and start to see the bigger picture. Yes, it is very frighening, but it's a worldwide problem.
I dont think "all the jobs" in calderdale will go - although expect there will be some reasonable job losses here. At this point analysts and speculators can make their wild guesses and cause widespead panic amongs the workers and community, but until any decisions have actually been made as to what part of LBG will be where, and which bits of HBOS are better / worse than their equivalent in Lloyds then everyone just needs to sit tight and wait until there are some concrete facts and figures made available.
8

,

20/01/2009 14:38:51
Comment Reported Unsuitable By User
9

Donkey ......,

20/01/2009 14:41:18
#8 : who do you trust. shame you were not in charge of the banks, the country and our economy !?
Give Gordon a call and offer him your inane advice - I am sure he would welcome it.
10

Missbehave (Princess Fiona),

20/01/2009 14:41:46
donkey
I casn tell the desperation in your text- even you dont believe what you are saying!!

prepare you will be soon on the dole

thionk I will give classes on how you can cope, you lot are so little prepared!!

know what to do with milk tokens?
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