BERLIN — Investors reacted positively to the new restructuring program announced by German retail giant Metro on Tuesday, pushing shares up 8 percent to 26.27 euros, or $33.89 at current exchange rates, in trading in Frankfurt.
Metro said it aims to improve profits by 1.5 billion euros ($1.94 billion) until 2012 and beyond through the new program “Shape 2012.” All dollar figures are converted from the euro at current exchange rates.
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