Investors parted on Friday in droves of shares in the largest German bank.
(Photo: dpa)
Frankfurt The forced merger of the struggling major Swiss bank Credit Suisse with UBS only brought a little more calm to the financial markets for a short time. On Friday, shares in Deutsche Bank fell by more than 13 percent by noon, and shares in Commerzbank fell by more than eight percent. The two stocks brought up the rear in the German stock index Dax.
A look at the credit default insurance of the institutes also shows how uneasy the investors are: The risk premiums of Deutsche Bank’s credit default swaps (CDS), with which investors can protect themselves against a default by the institute, were still 1.42 percentage points on Wednesday . According to the data provider S&P Global Market Intelligence, these cost 2.22 percentage points on Friday. This means that investors had to pay EUR 220,000 to secure a EUR 10 million package of Deutsche Bank bonds.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Further
Read on now
Get access to this and every other article in the
web and in our app.
Further