(Reuters) - Britain's leading stocks tumbled 0.6 percent on Wednesday, as fears over a troubled U.S. subprime mortgage market crippled equities around the globe, and Northern Rock plunged after trimming its profit forecast.
British mortgage bank Northern Rock dived more than 11 percent after trimming its 2007 profit forecast, saying it was suffering from the number of customers on cheap fixed-rate mortgages at a time when interest rates are rising.
Read more at Reuters Africa
British mortgage bank Northern Rock dived more than 11 percent after trimming its 2007 profit forecast, saying it was suffering from the number of customers on cheap fixed-rate mortgages at a time when interest rates are rising.
Read more at Reuters Africa
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