Lloyds bank moves back into profit - IG's market news 01.08.13

The comments in this video do not constitute investment advice and IG accepts no responsibility for any use that may be made of them. Latest financial market news: (all times are London time) Lloyds posted a first-half profit of £2.1 billion and confirmed they are back on track. In 2012 their first half was a loss of £456 million. Like Barclays they have had to allocate a further £500 million to cover the mis-selling of PPI. The total daily claimants for all banks is now 2,000 down from 3,000. The improvement in the overall picture has seen the company discuss reintroducing a dividend payment; last seen 4 years ago. It's not all good news as the bank is still trying to find a buyer for its 630 branches following the collapse in talks with the Co-op. In early trading the shares have now touched 73p, and, as the government's break-even level is 63p that equates to a £2.7 billion pound profit on the 38.7% holding. The chancellor will be asking himself the question of how long he lets this run as opposed to regaining the £20 billion that is being tied up by holding this position. IG clients are 90% long on Lloyds shares. For all this and more visit www.IG.com/uk