Shares in Lloyds Banking Group surged nearly 11% on Wednesday, as the part UK state-owned bank reported losses of £4bn but boosted investor hopes by signalling that its bad debts had peaked. The bank said more than £13bn of its loans had gone bad in the first half of 2009, up from £2.5bn in the same period last year, mostly due to losses at HBOS, the bank it rescued in January. See also Lex on Lloyds here, and more FT analysis here.

This entry was posted by Gwen Robinson on Thursday, August 6th, 2009 at 5:04 and is filed under Capital markets. Edit this entry.