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    October 8, 2007

    Northern Rock higher on news report

    Filed under: Companies, Northern Rock, Xstrata, Kazakhmys, British Land, Bradford & Bingley, Alliance & Leicester, Scottish and Newcastle, Vedanta Resources, Minerva, Carpetright, Marston's

    London’s markets were down on Monday.

    The FTSE 100 was 0.83 percent lower to 6,540.9 while the FTSE 250 was 0.54 percent lower to 11,328.7.

    Northern Rock (LSE: NRK) gained 8.83 percent to 172.5p for the best performance on the 100, on a Sunday Times report that Citibank (NYSE: C) could lend the bank £10 billion.

    But Alliance & Leicester (LSE: AL) was lower, falling 2.64 percent to 773p.

    Carpet and floor retailer Carpetright (LSE: CPR) had the best day on the 250, adding 4.13 percent to £11.61.

    Brewer and pubs operator Marston’s (LSE: MARS) was the biggest loser on the 250, dropping 5.51 percent to 347.25, but brewer Scottish & Newcastle (LSE: SCTN) gained 2.05 percent to 622p on takeover speculation.

    Miners were lower on the 100.

    Xstrata (LSE: XTA) was down 3.25 percent to £32.12 and Vedanta Resources was 4.31 percent lower to £20.86, while Kazakhmys (LSE: KAZ) fell the most on the 100, down 5.89 percent to £15.02 on the news that copper cathode production is expected to fall.

    Property developers and investors were lower.

    British Land (LSE: BLND) dropped 2.85 percent to £10.92, while Minerva (LSE: MNR) fell 4.62 percent to 232.25p.

    Mortgage lender Bradford & Bingley (LSE: BB) was down 5.18 percent to 270.25p.





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