Tuesday, 9 February 2010
ICAP boss and Tory Party Treasurer, Michael Spencer, who sold shares in the interdealer broker shortly before its profits warning last week, says that when he made the trade he'd no idea the bad news was coming. He wasn't the only one. Analysts at Panmure Gordon have been continually pushing the shares - now trading at around 310p - as a "buy" since November. Last month they told clients to wade in at 456p. D'oh!