Nationwide shares rise

 
Tim Wallace
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NATIONWIDE’S innovative new equity instruments were welcomed by investors yesterday, rising 10 per cent in their first day on the markets.

The core capital deferred shares (CCDS) were created by the building society to improve its capital position, though it maintains its plan to save up profits will hit regulators’ targets in any case over the coming years.

The equity instruments climbed from £100 to around £110.