any comments, thoughts, on this stock.

Keep on selling down to 500p.

It was up 17p this morning...now down 17p at 699p.

STOCKWATCH Northern Rock down; Panmure Gordon repeats 'sell',target under review


LONDON (Thomson Financial) - Shares in Northern Rock PLC were lower this
morning, as a statement after the close yesterday failed to ease investors'
credit concerns, with Panmure Gordon reiterating its 'sell' recommendation this
morning.
At 10.04am, Northern Rock were down 16-1/2 pence at 699-1/2, while the FTSE
100 was down 17.7 points at 6,061.0.
Last night after the close, Northern Rock said its investments in high-risk
US mortgage-backed securities and Collaterised Debt Obligations (CDOs) are
"minimal," as it reported the sale of 465 mln stg in secured loans to investment
bank Lehman Brothers.
In a note this morning, Panmure Gordon reiterated that it put its forecasts
and price target on Northern Rock under review last week, and it
continues with that given the market fluctuations, but yesterday's news adds to
the broker's perception of downside earnings risk.

There is more rife rumours that Northern Rock will be coming up with another profit warning. SELL at 674p now.

hlyeo98- I would not be surprised given the wholesale lending rate is about 0.6% above the 5.75% base rate. If confidence remains at a low ebb, this margin may increase. I am looking to buy some shares but, will hold back for now.

this time NEXT YEAR .NRK will not cost you 672p. ITS GOT TO BE CHEAP. LETS HOPE SANTANDER, WILL COME A LOOKING.

Looking very cheap.

Looking cheap and getting cheaper sell now its flawed.

Chart support at.........570? After that..........?

Under 5 already with over 6 million traded by 8:10! Glad I didn't get sucked into the speculation rumours

LONDON (Thomson Financial) - "Adam Applegarth, chief executive of struggling UK mortgage lender Northern Rock PLC, said an emergency borrowing facility it has negotiated with the Bank of England will be capped by the amount of collateral it can provide.
'It is determined by collateral. Given that we are using our mortgage assets as collateral, it's clearly a substantial amount,' he told reporters on a conference call.

Applegarth declined to comment on the interest rate it will pay. According to press reports, borrowing under the facility will be charged at a punitive rate of 6.75 pct.

The Northern Rock CEO also declined to say how long the borrowing facility will be available.

'It is of sufficient duration in the Bank of England's view to see us through the liquidity freeze,' he said.

Earlier today, Northern Rock said it had negotiated emergency funding from the BoE after being hit by the credit crunch, and issued its second profit warning in three months.

Northern Rock said its 2007 underlying pretax profit looks set to come in at 500-540 mln stg, down from 588 mln stg last year, and below the current consensus analyst forecast of 647 mln stg."

Glad I didn't get into Northern Crock...but will keep an eye on the sp and try and get in at/near the bottom for recovery play

wonder if AL. is not a better recovery play

48 million shares traded in 45 mins & sp down 24%. Surely that's got to be a record for a banking stock?

They pinch 20% of the big boys business.

Now the big boys refuse to lend them money - no surprise there then!

This is now in take over territory.

yes and the big boys may well be dividing up the spoils when a bidder comes in. The business method has been left wanting and company will be ripe to consolidate into a larger bank with a more conservative approach. Short term there is a confidence crisis with depositors which is aggrevating the situation.

Maybe one for Barclays as RBS looks more likely for ABN. Could be worth a punt soon.

The problem is if the news reports a mass exodus by its customers before a buyer comes in, what then with the sp.