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Northern Rock sees its shares hit a three-year low

The UK’s third biggest lender Northern Rock has seen its shares hit a three-year low during trading yesterday, another sign of the liquidity crunch hitting the UK mortgage market.

The lender saw its shares drop more than 5 per cent at 687 ½ p at close of trading yesterday. On Tuesday, its shares fell 14p to 726p after analysts at Credit Suisse said that there was a chance that the bank would “further downgrade full-year guidance at some point soon”.

Northern Rock’s half year results saw the lender announce a 9.7 per cent share of the residential mortgage market, up dramatically from 8.7 per cent at the same time last year.


Shareholders approve CSAM MM changes

Shareholders in Credit Suisse’s multi-manager funds have given their approval for the group to consolidate its range and introduce a multi-asset diversified fund.

HIPs to be rolled out to three bedroom houses on September 10

Home Information Packs will be rolled out to three bedroom properties from September 10, the government has confirmed today.Following the introduction of the packs for homes with four bedrooms and above on August 1, the Government has today confirmed there will be enough energy assessors, nationally and regionally, to roll out to three bedroom homes […]

Bacon or cheap insurance?

Vegetarian life insurance has been a hot topic since Animal Friends Insurance, the pet insurance specialists, said they would give vegetarians and fish-eaters an average 6 per cent discount on their life premiums.

Suitors are lining up for Burns-Anderson

Burns-Anderson is understood to have had several approa-ches for the business.Falcon Group, IN Partnership and The Money Portal are all tipped as the most likely suitors for B-A, which is considering a trade sale or seeking an external cash injection.B-A chief executive Mike Hughes says: “Providers want scale and although a decent size, we are […]

European Opportunities: 'It’s nice when stock selection results in a macro tailwind'

Amid significant macro headwinds in August, Mark Page explains why his fund’s focus on stock selection has helped it outperform a falling market in August. BESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswy


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