European equities slide as Deutsche Bank drags

AFP, LONDON: European stocks sank yesterday after Germany’s troubled Deutsche Bank unveiled plans over the weekend to raise 8.0 billion euros ($8.5 billion) in fresh capital.
Sentiment also remained downbeat as investors took profits from last week’s surge, which was rooted on hopes of a public spending splurge under US President Donald Trump.
“The Deutsche Bank drag on the banking sector, as well as the continued weariness following last Wednesday’s record-breaking surge, continued to set the tone of trading,” said analyst Connor Campbell at trading firm Spreadex.
Shares in Germany’s biggest lender dived 6.37 per cent to 17.92 euros, topping the Frankfurt fallers board, after announcing Sunday it would raise cash by issuing new shares.
The announcement marked a U-turn for CEO John Cryan, who until recently insisted no such move was needed.

European equities slide as Deutsche Bank drags

AFP, LONDON: European stocks sank yesterday after Germanys troubled Deutsche Bank unveiled plans over the weekend to raise 8.0 billion euros ($8.5 billion) in fresh capital. Sentiment also remained downbeat as investors took profits from last weeks surge, which was rooted on hopes of a public spending splurge under US President Donald Trump. The Deutsche Bank drag on the banking sector, as well as the continued weariness following last Wednesdays record-breaking surge, continued to set the tone of trading, said analyst Connor Campbell at trading firm Spreadex. Shares in Germanys biggest lender dived 6.37 per cent to 17.92 euros, topping the Frankfurt fallers board, after announcing Sunday it would raise cash by issuing new shares. The announcement marked a U-turn for CEO John Cryan, who until recently insisted no such move was needed.