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Government urged to rethink Lloyds Banking Group sale

Friday, October 14, 2016 6:31
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Chancellor Phillip Hammond has said the British government will sell its remaining shares in Lloyds bank to City institutions rather than put them on sale to individual investors in a retail sale.

TD Direct Investing’s chief investing officer Michelle McGrade tells Proactive: ”There’s a huge interest from the man in the street wanting to own Lloyds because we’re finding that it’s the most traded stock and that’s been the case for some time.”

On the subject of whether people should be putting their cash into banks given how opaque their accounts are she says, ”a lot of accounts are opaque and so when people are investing they’re really relying on the experts to make sure that the accounts are reliable and the headline figures they produce are a true and fair account of what’s going on. Most people really wouldn’t understand even the most simple accounts because they’ve got other day jobs”.

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