STOCK WATCH

BEING a shareholder in the AA must be like owning an old car: starry-eyed nostalgia stops you from selling it but you suspect it will cost you a packet in the long run.

On Wednesday, shares in AA shot up 15pc following claims from former chairman Bob Mackenzie that it had been approached by a private equity company.

But in yesterday’s trading, reality returned and shares dipped 6.3pc, or 5.4p, to 79.96p. Its price has fallen nearly 70pc in the past year.