HBOS soars but Goldman/Morgan plummet

clock •

Shares in HBOS are soaring in early trading on Thursday on the back of its confirmed £12.2bn takeover by Lloyds TSB.

HBOS stock had climbed 33.5p, or 22.77%, to 180.6p by 8.48am but Lloyds TSB is struggling, having dropped 19.75p, or 7.06%, to 260p. Meanwhile in New York, shares of Goldman Sachs and Morgan Stanley fell dramatically on fears the duo will struggle to survive in their present form as the last two major independent investment banks. Morgan Stanley is considering a merger with a bank to revive investor confidence after its shares sank 42% this week following the collapse of Lehman Brothers, it has been reported. Its price fell to 21.75 at the close yesterday, a drop of more than 24%, but...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Fahad Hassan: When good news becomes an inflation problem

Fahad Hassan: When good news becomes an inflation problem

'Markets have been adjusting to the risks through valuations all year'

Fahad Hassan
clock 29 September 2026 • 6 min read
Healey promises 'new age of industrialisation' ahead of Budget

Healey promises 'new age of industrialisation' ahead of Budget

Keeps quiet on personal taxation, pensions or savings at Labour’s conference

Isabel Baxter
clock 28 September 2026 • 2 min read
MPs warn policymakers to stop using OBR as scapegoat for tough fiscal decisions

MPs warn policymakers to stop using OBR as scapegoat for tough fiscal decisions

Treasury Committee report

clock 23 September 2026 • 2 min read