Richard Bexon Ramblings of a mad man in Costa Rica

Lloyds and Halifax share prices

Lloyds Bank Plc was never a bank that I thought I would ever buy shares in, one of the main reasons being I know nothing about the company and the service it provides.  I associate the name Lloyds to a bank but more towards Lloyds of London and the insurance company that had insured the Twin Towers and had to pay out millions when it collapsed.

I first bough shares in Halifax Bank of Scotland (HBOS) about 2 weeks ago, prior to the buyout by Lloyds, then my shares in HBOS were transferred to Lloyds at a lower rate, meaning essentially I lost money in a matter of days.  I knew the buyout was on the cards as there had been talk about it for some time, however did not know when it was going to happen.

On the day prior to the merger the shares were about 80p and after the merger down to like 49p.  I was kind of scared as I had essentially lost about 40% of my investment, however I was not that worried as the Lloyds shares were going to rebound.  About 2 (continue reading…)

On arriving to work this morning and turn on my laptop, the Vista Gadgets which i daily rely on popped up showing my Halifax bank of Scotland Shares (HBOS), which are now Lloyds Bank Plc (LLOY) shares, in the green with a daily gain of 41%.  At first I was taken back as I had never seen a share value increase at a rate of 41% in half a days trading, however I have seen a 41%  loss.  So as you can imagine I have a very nice smile on my face at the moment!!

I bought the shares as i thought it was a matter of time before somebody bought the bank, especially as the share price in November 08 was at 11 GBP, and then was trading at an all time low of 69p.  So I decided to invest some money and see what the market had in mind for me.  I have always banked with HBOS since I was a child when it was a building society, then when it went public I received some shares, and I also bought some.  Probably one of the  best investments I ever made, especially at 17 years old.

Anyway, the reason for the price increase this morning in LLOY share s is Citigroups announcement that Lloyds Bank Plc and B sky B are companies that are favourable for investment.  This sent the market into a frenzy and as you can meant the very pleasurable increase in share price.

Here is hoping that is continues to climb as the FTSE 100 gained 2.3% this AM, however there were some negative gains from Danka and Inion losing on average 20%.