Dusseldorf There is a sell-off on the German stock market at the end of the week – i.e. high price losses with high trading volumes. The leading index Dax lost two percent on Friday afternoon to 14,906 points. The daily low is 14,810 points – down 400 points.
The biggest losers are Deutsche Bank, which lost up to 14.9 percent after the cost of hedging against defaults on the institution’s bonds rose significantly. The CDS values also increased at other European banks such as Barclays and Société Générale. This is raising concerns about the general stability of European banks. The sector index “Eurostoxx Banks” lost almost six percent.
>> Read about this: Deutsche Bank shares plummet in double digits
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