Citywire comment [1] :
"Barclays Stockbrokers held 6% of Connaught on an execution-only basis for their clients on August 2. By August 26 this had risen to 13%, the largest stake in the company.
TD Waterhouse clients increased their holdings from 3% to 10% and Halifax Share Dealing clients also increased their holdings from 3% to 9%.
Over the same period the majority of institutional investors sold their shares.
The largest holding was the US-based Breedon European Ventures which sold all of its 13% stake. Scottish Widows Investment Partnership reduced its 4% holding to 0.4%. Deutsche Bank and Credit Suisse both sold all of their 2% stakes."
I am struggling to understand why PI's rushed to buy Connaught (LON:CNT) in such numbers. Who was recommending it?
AJ
