Northern Rock shares suspended SIX times in meltdown on stock exchange

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Northern Rock shares suspended SIX times in meltdown on stock exchange - and second bank's shares slump
Last updated at 17:43pm on 20th November 2007

• Rock shares trading at just 85.1p on new hopes of a rescue bid
• Trading in Northern Rock shares suspended six times
• U.S. buyout firm JC Flowers submits offer for Northern Rock
• Shares in Britain's third largest buy-to-let mortgage firm slump
• Bradford & Bingley sells off £4.2billion of loans

Northern Rock shares suffered a roller-coaster ride today as the political row over the Government's handling of the crisis deepened.

In frenzied morning trading on the Stock Exchange, Northern Rock shares plummeted by as much as 44p, or 40 per cent, to a new low of 60p.

They later recovered to 85.1p, a fall of 19.1p, tonight as hopes of a rescue bid for the stricken bank rose.

The Exchange authorities had to step in six times with emergency measures to restrict dealings because of the extraordinary volatility of the share price.