Thyssen Krupp shares slump

David Hellier
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THYSSEN Krupp shares collapsed yesterday after the German steelmaker announced it was issuing 10 per cent of new shares to raise £745m of fresh capital.

JP Morgan and Commerzbank were in the market last night re-offering the shares to institutions after buying them as a block.

Over the weekend the group announced a buyer for only part of its loss-making Steel Americas unit, which disappointed investors. The shares were down nine per cent.