Closing with a bang for Deutsche Bank, the Frankfurt Stock exchange. The title of the German bank has earned 6,39% 11,57 euro, after a session of ups and downs, with an opening loss of about 9%. Brilliant performance of the title in New York, where the rise is the 13,34% 13,01 dollars. To push the German bank contribute to the rumors about an agreement in the arrival in the Us to reduce from 14 to 5.4 billion dollars, the fine for the story of the subprime.
Piazza Affari, after the opening with the sign “minus” (-2,5%) has closed higher of 0,38%. And the main lists of the european line up in the new climate of new-found serenity. Closing a little below par for the Ftse 100 of London (at-0.29% to 6.899,33 points) and the Ibex of Madrid (-0,19% 8.779,4), a slight plus for the Cac40 in Paris (+0.1% 4.448,26) and percentage point increase for the Dax of Frankfurt (+1,01% 10.511,02). But the spotlight is also on Commerzbank, down 1,33%. The supervisory board of the second German bank will decide on the restructuring plan announced Thursday by ceo Martin Zielke, who provides 9.600 cuts, the suspension of the dividend and the reorganization of its divisions that will go down from 4 to 2. In Milan, after the early exchanges, the FTSE Mib is arrived to lose 2.5% and then recover and contain the losses of 1.3% and stabilize in the afternoon on a drop-0.4%.
The Deutsche Bank
In the night the title Deutsche Bank had sold 6.7% on Wall Street. The continuing collapse in the Stock of the first bank in germany to reflect the fears of the market that believes more and more inevitable that a bailout by the German government, as repeatedly denied, both from Berlin, from the institute of Frankfurt. In a year the actions Deutsche Bank have lost more than 60% in the Stock market. The institute led by John Cryan was involved in all the recent financial scandals (the manipulation of the indices, Libor, Forex, subprime mortgages) and, therefore, is at the center of thousands of causes around the world, with claims and fines of record, including the request for 14 billion by the Us authorities.
on Friday, after the Stock market crash caused by the news of the escape some of the hedge fund capital of the Deutsche Bank, Cryan stepped in to reassure the employees, ribandendo that the bank is solid and has over 20 million customers. “There are forces currently underway in the market that want to undermine the confidence in us,” wrote the Ceo in an internal letter. “Our task now is to ensure that this distorted perception does not influence so strongly our everyday activities”, he added.
The case for commerzbank
on Thursday, Commerzbank, the number two, has announced that it will cut about 9,600 jobs, or one out of five, about 45 thousand of employees in total and will suspend the dividend, which had begun to pay only last year, for the first time since 2007, after the stop result of the financial crisis and rescue the public, when the government of Berlin, injected 18 billion of capital in the institute, becoming a shareholder (and still today, is the first shareholder with 15%). The restructuring plan announced by Martin Zielke, ceo of Commerzbank in may, will be analyzed Friday by the Supervisory board. The reorganization, which will extend until 2020 and will cost in the complex 1.1 billion of costs, provides for the simplification of the structure, with the merger of the 4 most important activities in the two divisions, and the movement online of 80% of operations and processes. And the hiring of 2,300 people in areas with the greatest growth.
September 30, 2016 (change to the September 30, 2016 | 18:44)
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