After last weeks rumours of RBS’s impending rights issue, I thought it best to sell my shares quickly. They were trading at 388p on Monday morning so I sold them. I didn’t really make much (only £11) but at least I didn’t lose anything. The shares have slumped already, down to 345p today so glad I sold when I did else I would have made a loss. Everything I have read is suggesting they will carry on falling to around 300p as that’s all they will be worth after the rights issue. Bit of a shame really as they produce a good yield and I wanted to hold for the long term but with the market in such a state I thought it best to get out ahead while I could.
Also I’ve just noticed a £764 credit in my bank account – no idea what that was until I spotted the reference code "SA". That, ladies and gentlemen, stands for "self-assessment", so it’s a rebate from the inland revenue after filing my tax return!