Been away visiting my sister on the West coast of Scotland, and I avoided doing any financial nonsense.
Looking at the data for the period I was away I see the average buyback for the past 9 trading days is now 21.7m shares (£13.8m) per day, so it seems thay are keeping the level more or less constant over that period, although more in monetary terms rather than number of shares. The maintained high level of re-purchases has now brought the estimated end day in to the beginning of February 2020. The average price paid has creapt up slightly to 63.41p.
I noticed there was a TVR RNS at the end of March, and this shows ~14m more shares that my spreadsheet, so it seems that some extra shares have been issued somewhere along the line recently. Comparing the TVR RNS’s for February and March, the total reduction in shares is 153.78m, but the Buyback RNS’s show 167.35m. The difference is only 0.02% of the shares in issue, although it is 0.08% of the number of buyback shares. Both percentages are really very small so hardly worth quibbling over.
With respect to PPI, it is good to see the monthly figure below £300m again, but it is still higher than the December figure. Hopefully we can see the number decending towards the £200m mark over the next few months. Trying to estimate the final total industry figure for PPI payouts is a bit of a lottery, but I am getting a number of about £36bn, and if this turns out to be true then the current LLOY provisions are adequate, so we should not see any additional provisions being made by LLOY, in fact they might be able to write-back some of the existing provisions (but only a small amount).