European Movers: Luxottica, Renault, Swiss Re
NORTHERN ROCK was up £0.34 to £2.07... New guarantee arrangements agreed - the company says new guarantee arrangements have been agreed with HM Treasury. The guarantee arrangements previously announced to protect existing depositors of the company will be extended to cover all new retail deposits made after 19 September, the statement adds. Adds the arrangements will be complemented by additional facilities through BoE. The company says the arrangements will allow the company to continue to pursue full range of its strategic options. Adds that while discussions continue with selected parties, emphasises that there can be no certainty as to their outcome. Confirms has appointed Citi alongside Merrill Lynch to advise it on the range of options. Expects to incur additional non-recurring costs of £40 million to £50 million in the period to 31 December.
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