The action Deutsche Bank got its act together Friday afternoon, after his run on the morning in which the first German bank has resulted in the whole of the european banking sector.
13H44 GMT, the title of Deutsche Bank limited its fall to 0.36% 10,84€. Yet at the beginning of the session of the Frankfurt stock Exchange, it had dropped not far from 8%, from the same below the bar of 10 euros, for the first time.
in Spite of this timid recovery, the German bank has seen its share falls by more than 40% since the beginning of the year and the sessions of the last few days have been particularly difficult.
In the first cause, the threat of a record fine of $ 14 billion in the United States, claimed by the american courts to put an end to a dispute dating back to the crisis of “subprime”.
The prospect of such a financial burden on the institution, already struggling with profitability at half-mast and a very long list of other legal disputes, has sparked a whirlwind of rumors, scaring more investors.
on Wednesday, the German Finance ministry has had to strongly deny the preparation of a plan for public rescue. But Friday, a new coup de grisou has found its origin in the disaffection of a number of investment funds, having chosen to withdraw their money from Deutsche Bank.
The bank was quick to indicate that such movements were common and that at the same time, she had saved money from other big investors. And in a letter to employees released Friday, his boss John has blasted “certain forces in the market, who want to undermine the confidence in us.”
The boss of Commerzbank Martin Zielke, appeared Friday morning would be a reason. For the coming period, “we’re going to have to live with volatility certain”, he warned at a press conference.
- the Eruption of a volcano
“When I think of the banks at night I can not sleep…”, is amused to comment on Clemens Bundschuh, analyst of the bank LBBW. “The multiple attempts to calm the situation as the government, financial authorities and of Deutsche Bank itself has almost the opposite effect among investors,” says the analyst.
An opinion shared by Alexandre Baradez, analyst at IG France. The posture of a status quo adopted by the bank and the German government tend to “maintain concerns over the banks”, he said, while the announcement of the retirement fund “has put a little fire to the powder”.
indeed, the concerns surrounding Deutsche Bank have contaminated the whole of the european banking sector, always kept an eye worried since the violent financial crisis of 2008-2009.
The fellow of Deutsche Bank, Commerzbank, has also made the costs. Her action plunged in the middle of the afternoon still of 3.72% to 5,59 euros, much more now than Deutsche Bank.
The second German bank announced on Thursday a broad restructuring plan, with approximately 9.600 posts deleted and no dividend until further notice. In the wake of Deutsche Bank, the other values in the european banking reduced a little their losses of the beginning of the day, so that in the morning, they lost, often more than 3%.
Around 13: 30 GMT on the Paris Bourse, Société Générale lost 1.10% to 30,48€. In London, Barclays conceded 1,61% 164,60 pence and Lloyds 2,02% 54,37 pence, when in Madrid, Santander dropped 2.20% to 3.86 euros and BBVA to 1.66% to 5,26€. In Milan, Unicredit reduced its losses to 1.08% at 2,014 euros and Mediobanca to 1.22%, to 5.58 euros.
also In Switzerland, UBS ironed even in the green, with a rise of 0.15% to 13,05 swiss francs and Credit Suisse restricted its fall to a small% and 0.16% to a total of 12.58 swiss francs. “The financial sector is the branch the most sensitive and the most fragile, the uncertainties can quickly have unintended side-effects,” says Robert Halver, analyst of the bank Baader. According to him: “the flap of a butterfly’s wing can cause the eruption of a volcano.”
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