Deutsche Bank shares tumbled on Friday after the bank's credit default swaps that insure against default shot to a four-year high, highlighting concerns among investors about the overall stability of Europe's banks.
A worker walks past Deutsche Bank offices in London, Britain, March 16, 2023. REUTERS/Toby Melvilletumbled on Friday after the bank's credit default swaps that insure against default shot to a four-year high, highlighting concerns among investors about the overall stability of Europe's banks.
Deutsche shares, which have lost more than a fifth of their value so far this month, fell by as much as last 9.1% on Friday to just shy of Monday's five-month lows. The shares were last down 8.7% at 8.525 euros . Some of Deutsche Bank's bonds meanwhile sold off too. Its 7.5% Additional Tier-1 dollar bonds fell nearly 3 cents to 72.868 cents on the dollar, pushing the yield up to 24%. . That yield is more than double what it was just two weeks ago, based on Tradeweb data.
The STOXX 600 index of European banks - which does not include shares of Credit Suisse or UBS - has seen one of its most volatile weeks of trading in a year. The index was last down 2.1%, heading for a monthly decline of 17%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Deutsche Bank shares slump in latest sign of bank worriesDeutsche Bank shares slumped on Friday, putting the health of another globally systemic important bank in the spotlight heading into the weekend.
Read more »
Deutsche Bank shares slump 8%Deutsche Bank shares slumped 8% in Frankfurt trade on Friday, as worries over bank sector health focus on another global systemically important bank....
Read more »
Deutsche Bank shares whipsaw after CDS blow-outDeutsche Bank shares dropped as much as 3.4% in Friday's premarket trade, after a sharp jump in the cost of insuring against the risk of default late the day before fuelled concerns about the overall stability of Europe's banks.
Read more »
Deutsche Bank shares slide 8% after sudden spike in the cost of insuring against its defaultDeutsche Bank shares fell 8% in early trade on Friday after a spike in credit default swaps on Thursday night, as concerns about the stability of Europe's banks persisted.
Read more »
Stock Market Today: Dow Futures Fall; Deutsche Bank SlumpsStock futures fell on renewed concerns about banking stability. Shares of lenders dropped sharply in Europe, with Deutsche Bank down more than 10%.
Read more »
Sunshine Thursday, Friday; Severe Potential Friday Night - Alabama NewsTemperatures surge into the low and mid 80s Thursday afternoon and the sky remains mainly sunny. Thursday night remains mild with lows near 60°, while low clouds and fog likely develop again.
Read more »