UK banking stocks: weighing the investment case after earnings

UK-listed retail banks have maintained strong momentum following a standout 2024, with earnings results supporting further gains. Lloyds Banking Group, Barclays, and NatWest have all posted results that highlight shifting market dynamics, with net interest margins remaining resilient despite expectations of further interest rate cuts. Valuations, however, present a mixed picture, with some stocks appearing undervalued while others may have run ahead of fundamentals. Factors such as regulatory scrutiny, dividend policies, and broader economic conditions will continue to shape performance in the...