Northern Rock drags down FTSE

Shares in Northern Rock nose-dived again today as customers continued to withdraw funds amid mounting concerns over the future of the lender.

Northern Rock drags down FTSE
Mon, 17 Sep, 2007 - 12:29

Shares in Northern Rock nose-dived again today as customers continued to withdraw funds amid mounting concerns over the future of the lender.

The banking group slumped more than 30% during morning trading, building on Friday’s 31% dive on the back of escalating fears sparked by the Bank of England’s bail-out agreement and subsequent profits warning.

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