COMMERZBANK SP ADR (ZZMS.BE)
Berlin - Berlin Delayed Price. Currency in EUR
|Day's Range||6.4 - 6.4|
|52wk Range||6.40 - 6.40|
- Reuters•33 minutes ago
Germany will not help ailing lenders such as Deutsche Bank, senior lawmakers in Chancellor Angela Merkel's conservative bloc said on Thursday, as resistance grew to any possibility of staging a rescue. Concerns over the stability of Germany's largest bank pushed its U.S-listed shares down by more than 8 percent in New York on Thursday after they touched a record low in Europe this week. The latest fall came after Bloomberg reported that a number of funds that clear derivatives trades with Deutsche had withdrawn some excess cash and adjusted positions held at the lender because of its problems.
- Financial Times•56 minutes ago
Hedge funds have started to pull some of their business from Deutsche Bank, setting up a potential showdown with German authorities over the future of the country's largest lender. As its shares fell sharply ...
- Reuters•6 hours ago
Germany's Commerzbank will cut more than a fifth of its workforce and suspend its dividend as it tackles the challenges of low interest rates, weak profits and the shift to online banking. Germany's second biggest lender said on Thursday it plans to cut 9,600 of its 45,000 full-time positions, a more drastic move than the 10 percent staff reduction at larger rival Deutsche Bank, which remains under pressure for deeper cost cuts. Commerzbank said its overhaul, which includes merging its four main business segments into two and moving 80 percent of its processes online, would make its earnings less volatile.