Northern Rocks hopes influence FTSE rally

Growing hopes of a rescue of beleaguered mortgage lender Northern Rock sparked a rally in the firm’s shares today.

Northern Rocks hopes influence FTSE rally
Wed, 03 Oct, 2007 - 13:22

Growing hopes of a rescue of beleaguered mortgage lender Northern Rock sparked a rally in the firm’s shares today.

The 10% surge followed reports that New York private equity firm JC Flowers had raised £15 billion towards a potential bailout from backers including JP Morgan and Credit Suisse.

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CourtsBusinessHeathrowPlace: New YorkPlace: UKPlace: EuropePlace: USOrganisation: Northern RocksOrganisation: FTSEOrganisation: Northern RockOrganisation: JC FlowersOrganisation: JP MorganOrganisation: Credit SuisseOrganisation: NorthernOrganisation: Royal Bank of ScotlandOrganisation: Halifax Bank of ScotlandOrganisation: HSBCOrganisation: BarclaysOrganisation: KingfisherOrganisation: ArgosOrganisation: Home Retail GroupOrganisation: CooksonOrganisation: Foseco
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