Shares digital

Bradford & Bingley (BB.) 181.8p

Mortgage lender Bradford & Bingley has become the latest victim of the credit crisis as profits nearly halved during 2007. Bad debts trebled and investments plunged in value. (Read the full story: www.sharesmagazine.com/node/3287)

Shares says: A conservative lender, Bradford and Bingley is also well funded and has continued to raise money during the credit crunch. After last week’s fall the shares have reached a floor. HOLD

The Times says: Bradford & Bingley sparked fresh fears of a painful bank reporting season yesterday when it kicked off the annual results round with a 49% plunge in pre-tax profits.

Telegraph says: B&B laid to rest liquidity concerns after raising £2 billion of funding, on top of the £2.5 billion in September and October last year, to secure its position into 2009.

The City says: There is a large gap between management’s underlying earnings and actual statutory earnings. We think it’s a £144 million gap – adjust for this and EPS is down 38%. With a weak outlook, B&B remains a SELL