Lloyds Share Price Remains Positive on Monday
After a strong close to last week, Lloyds Banking Group (LLOY) shares opened on Monday at 76.93p. However, they had a day of ups and downs at one point reaching as high as 76.99p and as low as 76.25p. In the end the price picked up a bit and they closed at 76.80p.
While JP Morgan Cazenove welcomed the new leverage-ratio rules from the Financial Policy Committee (FPC), the analysts reiterated their ‘overweight’ position on Lloyds. However, Investec retained their ‘Buy’ position and both Citigroup and Credit Suisse retained their ‘Neutral’ positions.
While analysts have been fairly optimistic over the last few days, investors are remaining cautious. On Monday 41.59% of Lloyds Banking Group shares that were traded were bought while 58.41% were sold. This caution is likely to continue until the Bank of England runs its own stress tests on UK banks next month.