Tim Bolton Carter, the Investment Director at Rathbone Brothers (RAT, 808p), has made a small purchase of 1000 shares at 758p (March 30th London Stock Exchange). We’ve seen only sales by directors of Rathbones for the last six months, on which we based our negative view.

But this is the first purchase, and may signal a change in sentiment within the group.

We close our negative view on Rathbone Brothers.

Note of September 25th: ‘Rathbone private client managers sell down holdings’. (1060p)

Since then, Rathbones shares have fallen 24%, which is 8% worse than the market.

View on Rathbones: Neutral