Police raids over insider trading

Police in several European countries have raided more than 80 properties in a probe by German prosecutors into stock market manipulation, the Munich prosecutors office said yesterday. The office’s spokesman said the raids Wednesday were into suspected cases of market manipulation, insider trading and fraud. Fifty-three sites in Germany were searched, 29 in other European countries and four outside Europe. He would not identify the people or companies under suspicion, saying only a double-digit number of people were involved.