FTSE pounded by flat financials

Northern Rock once again led the losses, on speculation it will again ask Lloyds TSB to take it over. The stricken lender closed down 12.50 points, or 6.78%, to 172. Barclays and Alliance & Leicester also experienced significant tumbles, dropping 5.38% to 571.50 and 4.87% to 752 respectively. Smith & Nephew fell after it announced its Q3 profit decreased 86%; it closed 32 points lower, or 4.93%, to 617.50. Unilever is fared much better after announcing its growth momentum was sustained and is broadly in line with markets. The consumer goods giant closed 71 points higher, or 4.37%,...