Lloyds shares race ahead in London

Shares in part-nationalised Lloyds Banking Group raced 11% ahead today after the bank said the worst of its HBOS bad debts were behind it.

Lloyds posted a £4bn (€4.72bn) loss on the back of reckless lending at HBOS, but chief executive Eric Daniels offered comfort to beleaguered investors when he forecast charges will be lower in the second half and reduce next year