View more on these topics

Credit crunch jitters prompt financials to slump

Financial stocks have taken a battering this morning, dragged down by concerns about further problems emerging in the banking sector.

Northern Rock has led the slump, down a further 33 per cent after seeing a third of its value wiped out on Friday.

By lunchtime trading volumes in the companies shares had topped 174m, compared to an average trading volume of closer to 15m.

Alliance & Leicester, down 14 per cent, and Bradford & Bingley, down 11 per cent, were the next worse hit as investors took flight from lenders viewed as having funding models which will have to change in the current climate.

Paragon is down 6 per cent and banking giants HBOS and Royal Bank of Scotland down 4.8 per cent and 4.2 per cent, respectively. Barclays is down by 2.7 per cent.

Fund managers have also been dragged down with F&C, Aberdeen and Schroders all down by over 2 per cent.


How shock tactics curbed misselling

When aggressive selling by gas and electricity salespeople led to huge numbers of consumer complaints, tough action by regulator Ofgem helped stem the problem but payment by commission was allowed to remain, says Will Henley

We’re joining Aifa as it’s doing a great job

RH Investment Service has decided to join Aifa as it feels this is the best industry body to look after the interests of the majority of the IFA community. Aifa are doing a sterling job in representing IFAs’ views with regard to the retail distribution review. We have two approved persons and £370 is a […]

Royal Liver plans new look for with-profits

Royal Liver is to launch a new-style with-profits investment product in the new year.It has over three million with-profits policies on its books but says interest in traditional WP funds has dried up. Chief executive Steve Burnett says investors are still attracted to stockmarket-linked investments that offer smoothing.He says: “We have stopped making old-style with-profits […]

Adviser Fund Index

Emerging markets showed some initial resilience to the sub-prime turmoil and consequent decline in markets. They took longer to fall than developed markets and, when they did, it was generally not as sharp.

Globe - thumbnail

Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm