any comments, thoughts, on this stock.

So it's a sell, cynic

imo, yes, but it's still quite brave and could go wrong

Time to buy was probably earlier in the week.

What is it now? Not a sell IMO with predators gathering. If a bid comes you're screwed. The time to short was 10 days ago!!

Glad you liked the joke. Not of my own invention unfortunately,forwarded by a mate in shipping, far too unimaginative for that. I have decided that trading NRK has become risky, particularly an overnight position, though that is when some of the major price moves seem to occur. It seems that it could get taken over imminently and that could mean little recompense whether long or short so going to concentrate on BB and AL, which seem nearly as volatile but less likely to get blown out of the sky by the guns of pe or hedge .

Al ... who says bid will be at a premium? ..... more likely that the shares will be worth a lot less

cynic - the way the price has moved the last few days tells me I'd rather be long than short. It's that simple. In fact, it's been a good idea to be long the sector this week really. A lot of money can be made.

Of course the long bet being better may change tomorrow! That's the beauty of trading. One day long, next day short. ;-)) Either way, NRK is really interesting at present.

Most days just seem bloody long at the moment :>)

Called it right all week Al, well done...drinks on you at xxxx then? Couldnt bring myself to use that word yet but the cards are in the shops already!!

Drinks? Would I? ;-))

Might take today off as it has been a good week. Would hate to give it all back today.

FT: Northern Rock debt to bank now 8bn

Strawbs.

Doesn't sound very attractive does it? What will it be in another 2 weeks?

BIG debt...


Northern Rock borrows further 5 bln stg from BoE - report
AFX


LONDON (Thomson Financial) - Troubled UK mortgage lender Northern Rock has borrowed a further 5 bln stg from the Bank of England, taking the total amount it has drawn from an emergency credit line set up by the central bank earlier this month to 8 bln stg, the Financial Times reported without citing sources.

The FT said creditors holding Northern Rock's tier two debt are forming a committee to protect their interests in any restructuring or insolvency, amid fresh concerns over the bank's viability.

The FT also reported that Northern Rock last week distributed almost 40 mln stg in dividends to holders of preference shares, shortly before it cancelled a 60 mln stg interim payout to ordinary shareholders.

tf.TFN-Europe_newsdesk@thomson.com

Price only down 5%. I get the impression the increased borrowing was known about. I see RAB added to their stake yesterday. That does intrigue. 7% now, which is a hefty stake.

Agree - price seem fairly stable. Think everyone's expecting bid details to be announced.....

Hi there; If hlyeo98 is right about the Preference Shares it's been kept quiet - but maybe NRK cannot avoid paying this class of share ( er, why are Some more-equal than others, springs to mind!). For any dividends are being paid out of borrowings, I guess.

I hold from recent stumbles and still wonder if the Hedge Funds aren't seeing a profit somewhere, but suspect the small punter will be crushed under the turmoil.

If the shares fall further I shall sell, so maybe I should sell sooner rather than hoping some White Knight comes out of the forest and rescues this distressed Princess ( judging by the sobbing) rather tattered, robbed and rumoured by some to be without virtue.

Does anyone understand RAB's stake-building ? . . . other than it gives them a position at any Negotiations . . . but surely being a known player of the Markets, wouldn't their presence (at negotiations), be illegal?

Does anyone have a guess for RAB's average sp?

- I don't understand it. -

Yet, I do understand that the Execs at NRK have been somewhat slap-happy with the way they conduct business risks; indeed some might suggest reckless, when a tiny shift in interest-rates, appears to knock them out of the game.
That strikes me as being a mistake a child might make, acting out a school project and playing with Monopoly money.

So, I'm surprised an EGM hasn't been called to eject them without any severance pay, bonuses etc. - - - let them sue for breach of contract.....
Grr.

i confess that i thought there was an AFX announcment yesterday to the effect that RAB had actually reduced their holding from 6.9% to 6.66%, but i dare say i am wrong.

for myself, i am still (quite!) firmly of the opinion there there is little or no upside to the sp, and potentially considerable downside.

i too am very very surprised that the pref share holders should actually have received their divi .... though such holders always get paid paid first (doh!), i cannot believe there was any more obligation to pay them than there was to pay the ordinary stock holders.

It has been another long painful week for NRK. Surely the BOE will have to take action very soon as this uncertainty surrounding NRK's future is undermining confidence in the whole banking sector. If it is not sorted soon the Government will lose credibility.

halifax - it is right that there should be a lack of confidence in the banking sector. They've proved exceedingly profligate this past few years, particularly with lending on property.

neither BoE nor the gov't have any obligation whatsoever to the ordinary shareholders, and in most ways, that is absolutely correct ...... the only concern (interest) will be to ensure that any depositors and mortgage holders are covered and, of somewhat secondary importance, that BoE (the taxpayer!) recovers in due course the lifeboat that has been floated with its attaching interest.

i could well be proved wrong, but i cannot believe that at the end of the day, the shareholders will recover more than a very very small % of their investment, and maybe not that much

You may well be right as all have jumped on the easy money band wagon. However my point is the NRK problem has to be sorted out now before the contagion (lack of confidence )spreads to the other profligate lenders. The Government will regret not taking decisive action and avoid being sucked into a problem not of their making.

what action do you think gov't could have taken? ...... i don't see any.
however, one would certainly hope that NRK's board do not walk away with heavily laden wallets and pension funds, as seems to be the usual procedure, while the poor employees just get kicked in the arse.

i don't hold that the shareholders should be protected, as that more than smacks of the idea that is so prevalent in the state schools that there should be no losers ...... what a load of nambypamby rubbish that is!