Crisis wipes £1.7bn off value of finance group
Provident Financial became one of the biggest one-day fallers in FTSE 100 history after its shares lost 66% of their value after delivering a package of bad news to the stock market.
The sub-prime lender has had £4bn wiped off its market value in the last year - with £1.7bn of that being lost in trading today.
Analyst Peter Lenardos at RBC Europe said his firm "would not be buyers at any price".
Provident's shares had already fallen by nearly half since its year-high last October.
Lenardos added: While the share correcti... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
