Metro Bank Plc stock touched another record low despite the British lender’s assurances that its £350 million (€404 million) share sale to repair its finances was well advanced. The bank said the sale would be completed by the end of the second quarter, sticking to a schedule announced in February. Over the weekend, Metro moved to reassure customers after a photo of queues at a branch in Harrow, northwest London, was posted on social media. There is “significant urgency” for Metro to get the share sale done, wrote Robert Sage, an analyst at Macquarie Capital, who reduced his earnings per share estimates by more than 30 per cent for 2020 and 2021. “We’ve seen reports of some false rumours about Metro Bank on social media and messaging apps,” Anthony Silverman, a spokesman for the firm, said in an emailed statement on Saturday.

Source: The Irish Times May 13, 2019 15:17 UTC