Share price movement
As PPI claims and impairments decline, investors are beginning to reappraise Lloyds (LSE: LLOY)(NYSE: LYG.US). The effect has been dramatic — Lloyds is up 41% in the last three months.
However, in the last week they have underperformed both the FTSE 100 index and similar banks. While Barclays and RBS are both trading around 4.5% higher, Lloyds shares are actually slightly down on the week.
The fading of the eurozone crisis was welcome news for all bank shares. Lloyds received an additional fillip from the slowdown of PPI compensation costs. An improvement in economic sentiment has also…