3 reasons why the Lloyds share price rocketed almost 19% last month
Image source: Getty Images
Lloyds Banking Group (LSE:LLOY) enjoyed a great February. In fact, the Lloyds share price was one of the best-performing stocks in the entire FTSE 100, gaining 18.5%. Typically, with a move of this size in the space of just a few weeks, several reasons likely contributed. Here’s what happened and what it means for investors considering buying now.
Good 2024 results
A key factor was the release of the full-year results for 2024. Even though net income fell by 5% versus the prior year, pushing the statutory profit before tax down by 19%, investors positively took the overall report. To some extent, a fall in net interest income was to be expected, given the cuts made to the base interest…
