Northern Rock talk forces FTSE plunge

The drop in share value for the bank has dragged the FTSE 100 down 24 points, or 0.4%, to 60.96. Northern Rock has dropped 26.7p, or 25.62%, to 77.5. It is followed by Friends Provident, which dropped six points, or 3.85%, to 150p. Tullow Oil is also among the morning’s losers, dropping 21.5p, or 3.4%, to 610.5. Experian was leading the resistance, climbing 11 points, or 2.65%, to 426p. ICAP, up 13p to 584.5p, and Cable and Wireless, up 3.4p, or 1.88%, to 184.3 were also among the early winners. In the US, the Dow Jones closed down 218.35 points, or 1.66%, to 12958.44. Altria Group,...