Buying Lloyds shares

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ps3home
ps3home Posts: 107 Forumite
in Savings & investments
So, I've purchased £900 worth of Lloyds shares at 0.72p per share. (they've fallen since due to Brexit). Do you think it would be a good idea to buy another £1000 in Lloyds before the Brexit? I should have waited a little longer as they're now 0.63p.
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  • Pincher
    Pincher Posts: 6,552 Forumite
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    Dividend looks sweet at 62p.
  • eskbanker
    eskbanker Posts: 31,248 Forumite
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    ps3home wrote: »
    So, I've purchased £900 worth of Lloyds shares at 0.72p per share. (they've fallen since due to Brexit). Do you think it would be a good idea to buy another £1000 in Lloyds before the Brexit? I should have waited a little longer as they're now 0.63p.
    I think most on here would repeat the advice given last year via
    http://forums.moneysavingexpert.com/showthread.php?t=5243076, i.e. that piling in to individual shares isn't a particularly good idea for the novice investor and that funds are significantly less risky and volatile. Even without the effect of dealing charges you're already about 12.5% down on your initial investment, which isn't a big deal in the context of short term blips when investing for the long term, but what convinces you that Lloyds is a sound investment and that you (or anyone else on here) can be cleverer than the market when considering factors like Brexit?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    ps3home wrote: »
    So, I've purchased £900 worth of Lloyds shares at 0.72p per share. (they've fallen since due to Brexit)

    What direct impact does BREXIT have on Lloyds? .
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    Thrugelmir wrote: »

    What direct impact does BREXIT have on Lloyds? .

    Very little. If anything, longer term, it would be positive for them.

    But they've dropped heavily in recent days, more so than the wider market.

    Big jump this morning to claw some back.
  • robin58
    robin58 Posts: 2,802 Forumite
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    PeacefulWaters wrote: »
    Very little. If anything, longer term, it would be positive for them.

    But they've dropped heavily in recent days, more so than the wider market.

    Big jump this morning to claw some back.

    The big jump in price of Lloyds share could be the fact that they have just won a Supreme Court case against bonds holders which could have given Lloyds a £1 billion pound hit.
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  • ps3home
    ps3home Posts: 107 Forumite
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    I believe Brexit would impact British banks as mortgage prices could alter and much more. Also, the signs that the Gov. is soon to sell off their share is a good sign to me - it means the bank is starting to show promise. Also, the first dividends have recently happened. To me, that is another good sign.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    robin58 wrote: »
    The big jump in price of Lloyds share could be the fact that they have just won a Supreme Court case against bonds holders which could have given Lloyds a £1 billion pound hit.

    As the ruling came yesterday morning, that seems unlikely.
  • worried_jim
    worried_jim Posts: 11,631 Forumite
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    I sold all of mine on Tuesday @ 63.9p, couldn't stomach any further drop in price. Bought at 42p each, wish I sold them at 88p. I work there as well!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    ps3home wrote: »
    I believe Brexit would impact British banks as mortgage prices could alter

    Doesn't alter mortgage margins.
  • ps3home
    ps3home Posts: 107 Forumite
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    worried_jim wrote: »
    I sold all of mine on Tuesday @ 63.9p, couldn't stomach any further drop in price. Bought at 42p each, wish I sold them at 88p. I work there as well!
    Why didn't you wait for a few months until after the referendem?
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