Regulator suspends trading of Bankia shares

Spain’s market regulator has suspended trading of shares in bailed-out lender Bankia ahead of a board meeting of the bank that is expected to decide on the amount of money it needs from the government.

A market commission statement said trading was being halted because “a concurrence of issues could affect the normal exchange of the bank’s shares”.

The bank’s share prices have plunged since it was nationalised earlier this month.

Economy minister Luis de Guindos said on Wednesday the government would pump at least €9bn into Bankia but added that more would be available if needed.

Spanish lenders are heavily exposed to Spain’s burst real estate bubble. Bankia, Spain’s fourth largest bank, has been the worst hit with €32bn in toxic assets.

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