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Lloyds Banking Group (LLOY) Share Price Outlook London Stock Exchange

Starting the day’s trading at 76.00p, Lloyds (LLOY) has been on the steady climb following its steep drop to 75.5p around 8am this morning.

The banking and financial services firm has shown an average growth charted at 3.27% over the past week, with the consensus among brokers and analysts placing the company as a strong buy.

Maintaining its top level performance and detailed insight into Britain’s economic situation, the banking group provided data yesterday showing that 60,000 new homes need to be built in Britain on a yearly basis to meet demand and ease the growing housing shortage.

Last week Lloyds announced the successful sale of 57m shares TSB banking Group, placing price at 280p per share.

Lloyds stock looks to edge higher and break it’s pattern of sideways movement. With the Relative Strength Index now exceeding 70, a pullback may be expected as some may consider the stock to be overbought.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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