Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

Metro shares fall to fresh low after axing debt-raising

Metro shares fall to fresh low after axing debt-raising
FILE PHOTO: Signage is seen outside of a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay -
Hannah McKay(Reuters)
Euronews logo
Text size Aa Aa

LONDON (Reuters) – Shares in Britain’s Metro Bank <MTRO.L> plumbed a fresh all-time low on Tuesday, a day after the struggling lender scrapped a crucial bond sale aimed at bolstering its balance sheet in line with regulatory demands.

The lender’s shares opened down as much as 17%, before paring some of its losses to trade 12% down at around 240 pence.

Metro, which launched on British high streets in 2010, has struggled to rebuild investor confidence after disclosing a major loan book error in January that wiped more than 1.5 billion pounds off its stock value.

(Reporting By Iain Withers and Sinead Cruise, editing by Abhinav Ramnarayan)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.