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Lloyds Banking Group Share Price Set for Tough Week

Lloyds Banking Group Share Price Set for Tough Week

Last week was mixed for Lloyds Banking Group (LLOY) shares. On Wednesday the shares peaked at 77.44p and looked set to be gaining but on Thursday they fell to 76.28p and continued on the downwards trend until the end of the week before closing at 76.27 on Friday.

The fall came as the UK competition authority launched an investigation into the personal current account and small business retail banking sectors.

At the end of last week there was a range of broker assessments regarding the shares. Exane BNP Paribas reiterated its ‘Outperform’ assessment while Citigroup reiterated its ‘Neutral statement. However, Deutsche Bank reiterated its ‘Buy’ assessment.

At the end of last week investors seemed to be lacking in confidence in the shares. On Friday 59.62% of Lloyds Banking Group shares that were traded were sold while 40.38% were bought.

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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