U.K. Car-Finance Judgment Is Huge Win for Industry, Jefferies Says -- Market Talk
Dow Jones
Aug 04
0818 GMT - The outcome of the U.K. Supreme Court's ruling on three cases related to car-finance commissions is better than expected, Jefferies says in a research note. "What did it all come down to? Arguably, common sense--that car dealers do not have undivided loyalty to customers when arranging finance," analyst Jonathan Pierce and associate Priya Rathod say. The decision allows exposed banks to avoid what would have been a potentially costly redress. Shares in Close Brothers rise 21% and S&U shares are up 15%. Lloyds Banking Group gains 8% while Vanquis and FirstRand shares rise 5%. Shares in Bank of Ireland and Barclays also gain over 2%.(elena.vardon@wsj.com)
(END) Dow Jones Newswires
August 04, 2025 04:18 ET (08:18 GMT)
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