Wednesday, Jun 27, 2007

UK mortgage banks in deep s...

Forbes: Northern Rock In A Hard Place

Shares in Britain’s eighth-largest bank dropped by 11.8% today. Northern Rock’s news also hit its competitors. Shares in HBOS were down 23.50 pence, or 2.3%, to £9.79 ($19.53), while Bradford and Bingley fell 14.75 pence (30 cents), or 3.6%, to £3.95 ($7.88). I posted the links to these stocks in a comment. Look at today's but also past year performance... very telling, the tide has turned.

Posted by confused76 @ 11:56 PM (174 views) Add Comment

5 Comments

1. confused76 said...

http://finance.yahoo.com/q/bc?s=NRK.L&t=2y

http://finance.yahoo.com/q/bc?s=KGN.L&t=2y

http://finance.yahoo.com/q/bc?s=HBOS.L&t=2y

http://finance.yahoo.com/q/bc?s=BB.L&t=2y

Thursday, June 28, 2007 12:00AM Report Comment
 

2. This comment has been removed as it was found to be in breach of our Blog Policies.

 

3. Maggots said...

any oned remedmber 18 months ago when everyone thought that talk of a crash was crazy.they will all come reluctantly to te party.

Thursday, June 28, 2007 12:25AM Report Comment
 

4. Orwell said...

Are they a sub prime lender then?

I didn't thnik we had any sub prime lenders over here.

Thursday, June 28, 2007 07:58AM Report Comment
 

5. confused76 said...

Kensington is (should I say "nearly was") the onlt subprime.
The others are regular lenders. incl Northern Rock
You can read their share price crash of yesterday not as a signal of rising mortgage defaults but compressed margins, squeezed between ultra low rates given to borrowers, and increased cost of borrowing for the bank
What happens after Oct, when NR customers will come off the fixed rate mortgages? no one knows, but nothing good , according to the market

Thursday, June 28, 2007 10:24AM Report Comment
 

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