Bradford & Bingley (B&B) shares continue to fall

We reported yesterday that Bradford & Bingley (B&B) shares were down 14% to 43p, well the troubled bank face fresh problems on Tuesday as their losses have accelerated.

As at 8:38 a.m, the stock in B&B has fallen 26% to a new low of 32.5 pence, this is far below its planned rights issue price of 55p. These losses are now a worrying concern for the bank.

The worrying factor in all this was that Bradford & Bingley management had pinned their hopes on a £400 cash injection, which as we know has fallen through.

It is not just B&B who has had shares problems this morning, many companies in the banking sector across the UK and European have also fallen.

This is as a result of worrying concerns over the economic outlook which are being tracked overseas in the U.S. and the Asian markets.

We now have to hope that Bradford & Bingley management have a Plan B set up in place.

Source

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