Evening Standard - London, September 4th, 2007
EFFORTS by Alliance Leicester to reassure investors about its exposure to the subprime mortgage collapse have fallen on deaf ears in some parts of the Square Mile. AL shares touched 1049p before sliding back to stand 14p lower at 1046p today after the mortgage lender insisted it had no direct exposure to the US subprime lending crisis and that conditions in the funding and liquidity markets have no material impact on profits or franchise growth. It said it had not been significantly hit by recent changes in Libor, the interbank lending rate, and its variable-rate retail- funding base continu...
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