Shares in Germany's biggest lender Deutsche Bank plummet September 30, 2016 - 13:00 AMT PanARMENIAN.Net - Shares in Germany's biggest lender Deutsche Bank plummeted on the Frankfurt stock market on Friday, September 30, dragging other European banks and global markets down with it, after reports some customers were pulling money out. The investors were reacting to a $14-billion fine demand from the U.S. Department of Justice (DoJ) and conflicting reports in German media over whether Berlin would come to the troubled bank's aid if necessary, which have sapped the bank's market valuation since Monday. Just after 0800 GMT, shares in the bank had shed 6.35 percent to 10.90 euros ($12.19), while traditional Frankfurt rival Commerzbank -- which itself announced a far-reaching restructuring this week -- was also pulled down, losing 6.37 percent to trade at 5.45 euros. The DAX 30 index of leading German shares fell 1.5 percent. Across Europe, banking stocks including Societe Generale in Paris, Barclays in London, Unicredit in Milan and Santander in Madrid lost between four and five percent in the first hour of trading. "The risk perception by investors is worsening," IG France analyst Alexandre Baradez told AFP in Paris. The reports of fund withdrawals "ignited the powder", he said, according to AFP. Deutsche shares had lost seven percent in New York on Thursday before trading on Wall Street ended, while markets in Hong Kong and Tokyo lost ground at open on Friday morning over worries for Deutsche's future.  Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.   Partner news |  Latest news Macron says France commemorates 109th anniv. of Armenian genocide  Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says.Pashinyan: We must stop searching for homeland, we have found that homeland Prime Minister Nikol Pashinyan has shared a message on the 109th anniversary of the Armenian Genocide.Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia.Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. |
