A Royal Bank of Scotland (RBS) share price rise of 975 per cent ought to be very good news for the taxpayer, unfortunately today's dramatic gains are the result of a share consolidation as opposed to some actual good news for the 84 per cent state-owned lender.
The Royal Bank of Scotland's board agreed to give shareholders one share each for every 10 shares they currently hold, pushing the stock price up from around 20p before the bank holiday to 212p as of 11:36.
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