0808 GMT - Lloyds Banking Group's update included comforting results though there were a lot of parts to digest, Jefferies says in a research note. The British bank took a provision linked to its motor finance business and issued guidance for 2025. Its 2026 guidance, which is more than 15% higher than consensus, was maintained. "The market may start to take more comfort in this today, given guidance that hedge income is expected to increase circa 2.7 billion pounds between 2024 and 2026," analyst Jonathan Pierce and associate Priya Rathod write. The motor finance risk will hang over the shares for a little longer, they add. Shares open 2% higher at around 64 pence. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 03:09 ET (08:09 GMT)
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