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Ash4781

Northern Rock Up Amid M&a Talk

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http://business.scotsman.com/latest.cfm?id=1320562007

Several dealers noted renewed speculation that Lloyds TSB or another predator could be casting its eye on Northern Rock, whose valuation has fallen sharply amid concerns it faces higher funding costs.

"For Northern Rock, as a global funder including raising funds through various channels in the U.S., anything that helps ease the position is very good news, it opens up opportunities," a spokesman for the bank said in regard to the Fed's move.

Other analysts have been more gloomy, however, saying the bank's funding model is too reliant on wholesale markets. Securitisations account for 44 percent of its funding balance, with 8 percent from covered bonds, 25 percent from other wholesale funds and just under a quarter from retail deposits.

Rivals such as HBOS get about half of their funding from retail deposits.

The guys and girls at the Rock seem pretty well connected lol http://investing.reuters.co.uk/news/articl...B0781-OISBN.XML

That or they can't get hold of any credit.

Edited by Ash4781

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Looks like all tha "m&a" talk wearing off................

Last Trade: 698.88 p

Trade Time: 12:39PM

Change: 33.12 (4.53%)

Prev Close: 732.00

Open: 719.00

Bid: 698.50

Ask: 699.00

1y Target Est: 892.08p

Ha ha ha ha ha! How low can she go? :lol::lol:

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Top three losers today

value change %

Northern Rock

697.50 34.50 4.71

Alliance & Leicester

1019.00 39.00 3.69

Royal Bank of Scotland Group

565.50 18.00 3.08

Sad..... any other weeping?

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Top three losers today

value change %

Northern Rock

697.50 34.50 4.71

Alliance & Leicester

1019.00 39.00 3.69

Royal Bank of Scotland Group

565.50 18.00 3.08

is it fair to say the banking sector is moving together at the moment all for similar reasons - HBOS also down after a few days of rises...

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