Rock Falls to a New Low As Bid Hopes Fade Further ; Banking

Evening Standard - London › October 01, 2007

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Summary

SHARES in strife-torn Northern Rock crashed to a new low of 14412p at one point today as hopes of a takeover faded and one leading analyst slashed his price target from 300p to just 100p.

Sandy Chen of stockbroker Panmure Gordon said he now expected the former building society to make losses of 120 million next year, rather than the 280 million he had originally pencilled in.

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Rock Falls to a New Low As Bid Hopes Fade Further ; Banking

He added that he was assuming that pressure ...

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