Banks caught in Northern Rock riptide

Mitchells made the biggest gains, up 25 points, or 4.03%, to 645p, followed by Sainsbury, which added 15.5 points, or 2.8%, to 569.5p after news of a takeover offer. Morrison jumped 5.25 points, or 1.89%, to 283p, Resolution shares gained 12 points, or 1.76%, to 695.5, while Carnival added 28 points, or 1.26%, to £22.45. Northern Rock shares continued to fall as the Government said it would not back savings from people opening new accounts, down 58.8 points, or 22.88%, to 198.2. HBOS dropped 59 points, or 6.75%, to 815p and Alliance & Leicester lost 51.5 points, or 6.32%, to 764p. O...