Northern Rock’s biggest shareholder is today hoping for an improved offer for the lender after querying the value of the salvage bid led by Richard Branson’s Virgin Group.

The biggest declared shareholder in Northern Rock today threatened to block any deal to restore stability to the troubled bank that would not deliver value for money for shareholders.

Banking and insurance stocks will be at the forefront of minds on the London market next week as a clutch of leading companies issue annual results.