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German Finance Ministry Declines Comment on Deutsche Bank Merger 'Speculation'

Martin Baccardax

A German Finance Ministry spokesperson declined to comment on the Focus Magazine report, published Saturday, that the government could orchestrate the tie-up in order to ensure that it has a lender commensurate with its status as Europe's biggest economy. Deutsche Bank shares were marked 0.6% higher on the session, against a 0.51% decline for the broader DAX performance index benchmark, to change hands at €7.72 each but have still lost more than half of their value so far this year and have a market cap of just €16 billion ($18.24 billion) against a balance sheet of €1.4 trilllion. Commerzbank bank shares were also outperforming the broader market, rising 0.86% on the session to €6.89 each, taking their market value to just over €9 billion.