Chancellor to wait until September to sell off Lloyds stake - reports

Despite widespread expectations that George Osborne would sell up to £5bn of shares within days, sources indicated he would instead wait to September, the Daily Mail reports. This is a move some will see as taking a gamble that the shares will not fall in value over the traditionally choppy summer months on the stock market. Shares in the bank rose above the average price paid by the Treasury for its stake in 2008, reaching 73¾p last week on the back of the bank's strong first half results. The Treasury paid an average of 73p for its shares, but says that it only needs 61p to break...