Market Pulse
Sunday newspaper roundup: Lloyds, UK trade deals, BAE, SABMiller, Lonmin, Uber
The new government could accelerate the re-privatisation of Lloyds Banking Group and scrap George Osborne’s plan for a sale to retail investors, senior financiers believe. While Mr Osborne wanted to make a profit on every share in the bank, only selling when the price stood at above the bailout level of 73. 6p, new Chancellor Philip Hammond may want to sell the bank more quickly, raising cash and removing one painful hangover from the financial crisis, banking sources believe.
Sunday share tips: Gulf Keystone Petroleum, Marks & Spencer, Lloyds Banking
Gulf Keystone Petroleum shares could be worth buying, said the Sunday Times' Inside the City column, if shareholders vote to accept a debt restructuring deal that will leave them just 14% of the embattled oil producer. Shares in the Kurdistan-focused company last week dipped below 3p, meaning they have lost 99% of their value in around four years. Two year ago, a cash-strapped GKP's previous management team, amid boardroom battles, missed targets and shareholder scorn about inflated salaries, issued $250m of bonds at a painful 13% interest rate that has almost squeezed the life out of the company.