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Credit Suisse shares hit record low after report bank is looking to raise cash

Credit Suisse shares hit record low after report bank is looking to raise cash

[html]LONDON (Reuters) – Credit Suisse shares dropped to a record low on Friday after a Reuters report said the co*pany is looking…
                              

LONDON (Reuters) –     Credit Suisse shares dropped to a record low on Friday after a Reuters report said the co*pany is looking to raise fresh cash.


Credit Suisse has started sounding out investors for a capital hike for the fourth time in seven years as it attempts a radical overhaul of its investment bank, which could include exiting the U.S. market, two sources told Reuters.


Shares in Credit Suisse fell over 7% in early trade to a record low of 4.26 francs.


Including Friday’s move, shares are down over 50% this year and are on track for their worst yearly performance since 2008.



(Reporting by Samuel Indyk; Editing by Dhara Ranasinghe)


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