Stagnating UK Economy Weighs on Lloyds Banking Group and Barclays
Five Star Equities Provides Stock Research on Lloyds Banking Group & Barclays PLC
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/20/12 -- In a manner similar to the Federal Reserve in the US, The Bank of England recently announced that it will inject a further £75bn into the UK economy via quantitative easing. City-based analysts told CNBC that quantitative easing will allow the UK to retain its AAA credit rating this year despite growing fears of a double-dip recession caused by continuing debt problems in the euro zone.Five Star Equities examines investing opportunities in the Foreign Banking Industry and provides equity research on Lloyds Banking Group PLC (NYSE: LYG) (LSE: LLOY) and Barclays PLC (NYSE: BCS) (LSE: BARC). Access to the full company reports can be found at:
The outlook for the UK economy is gloomy. The Nationwide Building Society recently announced that the U.K. consumer confidence fell in December to close to a record low as rising unemployment and the euro crisis sapped Britons' expectations for the economic recovery.
It was an "extremely tough year" with worsening job prospects "compounded by events in Europe," Robert Gardner, chief economist at Nationwide, said in a statement. "With the U.K. recovery unlikely to gain much forward momentum in 2012 we are unlikely to see confidence surge in the near term."
Five Star Equities releases regular market updates on the Foreign Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
The struggling economy is taking its toll on the UK Banking sector, with many financial firms trading near 52-week lows. With the banks struggling, several have been forced to cut costs. Earlier this month, Lloyds Bank announced 700 job cuts across the UK as chief executive Antonio Horta-Osorio continues to overhaul the lender. The group said in its strategic review that it would target middle-management roles, while divisions affected in this latest round include community bank, wholesale, and wealth and international divisions, among others.
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Datum: 20.01.2012 - 07:20 Uhr
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