Rock shares slump 15%
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Chancellor continues to insist private sector solution is government's preferred option for bank
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Shares in UK buy-to-let mortgage lender Paragon Group slump more than 25% as escalating worries over the credit squeeze spreads.
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Leading shares closed sharply lower, with GlaxoSmithKline and Yell Group falling 7.6 percent and 15 percent respectively after warning on prospects in 2008, and Wall Street down on disappointing updates from Cisco and retailers.
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London equities fell on Friday after Northern Rock went to the Bank of England to arrange emergency financial support, a move that led to a two-year profit warning and undermined share prices in its peers.
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The rescue of British bank Northern Rock   could get bogged down in a legal battle as shareholders  criticized the government's handling of the five-month crisis  just as a decision nears.
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But stock of major oil company falls on disappointment it did not extend stock buyback program. LONDON  - Scandal-hit oil company Royal Dutch/Shell said Wednesday it will invest $15 billion a year
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Leading shares ended a volatile session lower as fears of further rate hikes and an uninspiring start on Wall Street offset pleasing numbers from retailer Next.
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Northern Rock shares slump 9.5% after it warns that earnings would not be as strong as analysts predict.
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Shares in record company EMI sink nearly 15% as the company sees lower-than-expected sales.
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London equities fell in opening trade on Wednesday, after Northern Rock&#39;&#39;s latest guidance on full year profit growth dipped below analysts&#39; forecasts, adding to concern about a slowing housing market.
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Stocks declined on Monday, led lower by financial shares, as a rush by savers to withdraw deposits at a large British mortgage lender fueled worries the credit market turmoil would spread.
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Hundreds of panicky depositors converged on branches of embattled bank Northern Rock to grab their savings, as shares in the lender plunged by nearly a third for the second straight trading day on Monday.
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Northern Rock shares plunge after it seeks emergency help from the Bank of England.
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Shares in troubled British bank Northern Rock were suspended on Monday as the group, devastated by the global credit crunch, said it would be taken into public ownership in the coming days.
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Leading shares finished lower, with the UK construction sector down on concerns the Bank of England&#39;s decision to keep interest rates unchanged has upped the risk of a further hike by the end of the year.
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The companyâs shares plunged 15.9 percent to a nearly four-year low of $10.36 in morning trading after its net profit fell 84 percent in the fourth quarter.
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Northern Rock shares fall further after a claim the bank has borrowed more money from the Bank of England.