Northern Rock this morning continues its topsy-turvy ride on the FTSE, which has climbed 0.88% to 6490.3 in early trading, as talk of a takeover by a private equity firm gathers pace.
The bank, having shown signs of recovery on the index yesterday evening, has this morning climbed 10.5 points, or 5.77%, to 192.5p Following closely behind is HBOS, which has climbed 43p, or 4.93%, to 916p, and building firm Taylor Wimpey, up 11.25 points, or 4.36%, to 269.25p. Stemming the gains though are Smith & Nephew, down 10.5 points, or 1.78%, to 579p, Sage Group, down 3.5p, or 1.38%, to 249.75p, and Resolution, down 8.5p to 686.5p. In the US, a fairly static Dow Jones yesterday closed up 99.5 points, or 0.72%, on 13878.15. GEN Motors was the day’s biggest earner, climbing 3.22 p...
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