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Investors swoop on Northern Rock shares, says The Share Centre

Retail stockbroker The Share Centre has reported a 591 per cent increase on last week’s account openings as investors have swooped to take advantage of a weaker Northern Rock share price.

Northern Rock accounted for 34 per cent of all deals on Wednesday.

The Share Centre says although the recent drop in Northern Rock’s share price may look attractive, investors should think carefully before investing in the bank.

The Share Centre investment adviser Nick Raynor says in volatile markets it is important to consider your attitude to risk as well as your future financial aspirations.

He says: “The situation with Northern Rock is attracting those looking for a bargain – value investors, which in stock market terms means that they believe the market is underrating the company and its prospects. Although the forthcoming dividend payout and possible takeover situation may be appealing, we would advise novice investors to tread carefully and seek individual advice before jumping on the bandwagon.”

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It is essential that coverage provided by all trade newspapers is as accurate as possible. The risk of being accused of sensationalism is high, particularly when many companies in the sub prime sector are feeling the pain.

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