You may not have noticed, but there has been a roaring bull market in two of the UK’s least loved market sectors. Those “uninvestable” banks which are not allowed to pay dividends have led the charge. Since the hidden charms of Barclays were highlighted here on November 6, the price has jumped from 110p to 148p. Lloyds Banking shares (October 16) looked absurdly cheap at 27p. They now cost 39p.
A government takeover of Thames Water would be an outrage
The new government’s hand is strong enough to resist nationalisation, which would stick over £18bn of debt onto the taxpayer.
