London, June 11, 2026, 20:05 BST
- Lloyds shares traded near 98p on delayed prices, up about 1%. The FTSE 100 was higher too.
- The bank announced another 5 million-share buyback Thursday, a day after it did a similar repurchase on Wednesday.
- Investors are eyeing branch closures. The UK motor finance redress process is still not settled.
Lloyds Banking Group plc shares finished up Thursday, tracking gains in UK financials as London’s main index ended the day higher. According to delayed Hargreaves Lansdown data, Lloyds was quoted at 97.80p/97.84p after the close, up 0.94p, or 0.97%. The FTSE 100 added 0.48%.
FTSE 100 ended up 0.5% at 10,303.9, Reuters said, as financials bounced back. War worries with Iran and big AI outlays kept the rest of the market in check.
Lloyds shares traded heavily. AJ Bell’s lagged data showed the last close at 97.22p. The session’s high got to 98.76p, with volume near 193.6 million. The same feed put Lloyds’ year top at 114.60p and the low at 72.851p, leaving Thursday’s price short of the February high but well above last year’s bottom.
Lloyds reported a fresh buyback move. The bank said it bought 5,000,000 ordinary shares on June 11, using Goldman Sachs International as agent. The volume-weighted average price was 98.1064p per share. The company plans to cancel these shares.
Lloyds made a similar move for June 10, picking up 5,000,000 ordinary shares via Goldman Sachs at a volume-weighted average price of 97.4734p. Both trades are part of the group’s buyback programme. Lloyds said the broker was acting on instructions issued on January 29 and made public on January 30.
Lloyds gave investors some governance news to work through. Danuta Gray is set to join the board as a non-executive director and take a seat on the Responsible Business Committee from July 1, 2026. She’ll also become chair and non-executive director at Scottish Widows Group. Group chair Sir Robin Budenberg said Gray has “extensive knowledge and experience of banking and insurance.” Investegate
The stock is still reacting to the UK motor finance scandal, which is a major issue for domestic banks. Reuters said this week that some car finance firms are looking at paying compensation to customers. Legal challenges have stalled the Financial Conduct Authority’s £9.1 billion redress plan until at least 2027, if the scheme goes ahead. Lloyds was named by Reuters as one of the banks in the broader car finance sector that did not contest the scheme.
The Guardian reported the FCA warned lenders could face £6 billion in extra costs with a complaints-led approach, and that claims could take three years to settle. Banks named among those affected include Lloyds Banking Group, Santander UK and Barclays.
Lloyds’ motor finance issue comes as the lender deals with its latest financials. Back in April, Reuters said Lloyds delivered a 33% jump in statutory pre-tax profit for the first quarter, hitting £2 billion, as lending income increased. The bank took a £151 million charge tied to the economic fallout from the Iran war. Lloyds said at that point it hadn’t set aside fresh money for consumer redress in Q1.
Lloyds’ branch network is facing more cuts beyond what’s happening in markets. MoneySavingExpert says Lloyds, Halifax and Bank of Scotland are now set to close 247 more branches in 2026 and 2027. That includes a fresh round announced Wednesday: 79 more closures, with 31 Lloyds and 48 Halifax locations on the list.
Lloyds and Halifax have branch-closure pages detailing which locations are set to shut, along with a note that the Financial Conduct Authority requires LINK to review cash access for each area. Results of these reviews are due later. Halifax flags banking hubs or community bankers to customers in some spots, and Lloyds’ list marks certain branches with plans for banking hubs or visits from a community banker.
