Lloyds Leads the Slump As Footsie Falls Below 4000 [Edition 2]

Summary

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SHARES once again slumped below the 4000 level today, dragged lower by bank shares following cautious comments on the outlook for the sector by a clutch of brokers.

Government-controlled Lloyds Banking Group led the retreat, falling 5.7p to 74p, making it the biggest faller among the top 100 companies. Credit Suisse has dropped its rating on the shares from neutral to underperform with a 45p target. Rival broker Bernstein can only muster a market-perform rating on Lloyds, but has seen fit to raise its sights on the shares from 50p to 75p.

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Lloyds Leads the Slump As Footsie Falls Below 4000 [Edition 2]

The move by Bernstein was part of a cautious review of the banking sector in general. It expects them to be profitable long- term, but warns it could be a long haul. It has dropped Royal Ban...

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