Summary
SHARES in Northern Rock surged 34% today to their highest for three weeks as controversial hedge fund manager Jon Wood revealed he had taken his stake in the bailed-out building societyturned-bank to more than 4%. They rose 6912p to 276p as it emerged SRM Global Master Fund had been buying CFDs contracts for difference with a third party which are a bet on a share price going up at just 199p a share.
SRM, or Strategic Risk Management, was set up 15 months ago by Monaco-based multi-millionaire Wood, a UBS veteran and aggressive trader.See the full content of this document
Extract
Rock Soars As Second Hedge Fund Buys
He is best-known for the furore over...
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