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.
The government must do far more to ensure British-grown companies list here in London and to protect them from being bought by foreign buyers.