NatWest Preferred Over Lloyds Due to Motor Finance Exposure -- Market Talk

Dow Jones

2024-11-04

1120 GMT - NatWest is more geared to falling interest rates than peer Lloyds Banking Group but isn't as exposed to the motor finance issue, Keefe, Bruyette & Woods say in a research note. The broker changes its preference and names lender NatWest as its top pick after its strong third-quarter results, replacing Lloyds. Lloyds is exposed to a highly uncertain liability from a probe into commission agreements in the motor finance sector. This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

November 04, 2024 06:28 ET (11:28 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The broker changes its preference and names lender NatWest as its top pick after its strong third-quarter results, replacing Lloyds. Lloyds is exposed to a highly uncertain liability from a probe into commission agreements in the motor finance sector. This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 04, 2024 06:28 ET (11:28 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NatWest Preferred Over Lloyds Due to Motor Finance Exposure -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNatWest Preferred Over Lloyds Due to Motor Finance Exposure -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2024-11-04 19:28</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1120 GMT - NatWest is more geared to falling interest rates than peer Lloyds Banking Group but isn't as exposed to the motor finance issue, Keefe, Bruyette &amp; Woods say in a research note. The broker changes its preference and names lender NatWest as its top pick after its strong third-quarter results, replacing Lloyds. Lloyds is exposed to a highly uncertain liability from a probe into commission agreements in the motor finance sector. This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 04, 2024 06:28 ET (11:28 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4207","symbol_name":"綜合性銀行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2480430651","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480430651","pubTimestamp":1730719680,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1120 GMT - NatWest is more geared to falling interest rates than peer Lloyds Banking Group but isn't as exposed to the motor finance issue, Keefe, Bruyette & Woods say in a research note. The broker changes its preference and names lender NatWest as its top pick after its strong third-quarter results, replacing Lloyds. Lloyds is exposed to a highly uncertain liability from a probe into commission agreements in the motor finance sector. This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4207":"综合性银行","LYG":"劳埃德","BK4521":"英国银行股","NWG":"NatWest Group"},"translate_title":"由于汽车金融风险，国民西敏寺银行比劳埃德银行更受青睐——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LYG":0.9,"NWG":0.9},"content_text":"1120 GMT - NatWest is more geared to falling interest rates than peer Lloyds Banking Group but isn't as exposed to the motor finance issue, Keefe, Bruyette & Woods say in a research note. The broker changes its preference and names lender NatWest as its top pick after its strong third-quarter results, replacing Lloyds. Lloyds is exposed to a highly uncertain liability from a probe into commission agreements in the motor finance sector. This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. (elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 04, 2024 06:28 ET (11:28 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}