Main events
We are closely monitoring the situation with Thames… the company remains stable but if we need to take action we are prepared to do so.
The news came after it emerged that water companies in England could be banned from making a profit under plans for a complete overhaul of the system.
The idea is one of the options being considered by a new commission set up by the Department for Environment, Food and Rural Affairs (Defra) amid public anger over how firms have prioritized profit over the environment.
Sources in the department said they would consider forcing the sale of water companies in England to firms that would run them as unprofitable. Unlike nationalization, the company would not be run by the government, but by a private company, run for public benefit.
The not-for-profit model, which is widely used in other European countries, allows staff to be paid substantial salaries and bonuses, but any profit on them is returned to the company.
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In these three months, we made significant progress in putting legacy litigation behind us, while also producing a record third quarter profit in our operating business.
However, revenue at the retail division, which includes Postbank, was flat, while corporate banking posted a worse-than-expected 3% drop in revenue.
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Shares in Lloyds rose 0.7% after the results, which came in better than expected.
Richard Hunterhead of markets at interactive investor, said:
Lloyds has started the quarterly reporting season unspectacularly, although there are signs of momentum improving as the year progresses…
Overall, these results are not lights out, but they do provide a huge element of comfort that Lloyds continues on its positive journey towards a more streamlined and digital business, supported by a healthy financial position. Moves into other revenue streams such as credit cards and insurance could bolster its core mortgage income, and the group’s confirmation of its targets at the end of the year is proof the bank remains on track.
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Noon BST: US MBA mortgage applications
2:45am BST: Bank of Canada interest rate decision
15:00 BST: President of the European Central Bank Christine Lagarde speaking
15:00 BST: Eurozone consumer confidence flash for October
15:00 BST: US home sales for September
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Updated on 03:38 EDT