Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Few attracted by gilts

Saturday 01 May 1993 00:02 BST
Comments

THE Government's gilt auction last Wednesday attracted just 2,000 private investors who invested an average of pounds 6,050, after an unprecedented effort by the Bank of England to make the auction attractive to the public.

It spent pounds 140,000 on extra advertising - pounds 70 per investor. They paid the average price bid by the professionals for the Treasury 71 4 per cent 1998 - pounds 101.04 (just above pounds 101 1 32 ) for each nominal pounds 100 , giving a yield of 6.98 per cent. The stock now stands at pounds 1009 32 .

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in