No surprises in the FTSE 100 this morning; Northern Rock is crumbling and taking the index with it.
The FTSE is currently 81.9 points down, or 1.29%, to 6282. Mortgage lender Northern Rock is in freefall in early trading, as news it went to the BoE for an emergency handout filtered through last night. It is down 147 points so far, or 23%, to 492. Alliance & Leicester is also feeling the effect of the Rock’s force; it has dipped 71 points, or 7.57%, to 866.5. Pharmaceuticals group Shire is struggling, it is on 1179 – a drop or 67 points or 5.38%. Cable and Wireless is the only stock to record any sort of significant gain so far this morning, Cazenove's bullish update yesterday ha...
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