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Deutsche Bank Hovers Near Record Low After Q3 Earnings Fail to Revive Confidence

Martin Baccardax

shares continued to test their all-time lows Wednesday, even as management at Germany's biggest lender insisted their turnaround plan would swing the bank into profit, after stronger-than-expected third quarter earnings failed to offset a patchy full-year outlook. "This result is another milestone on our way to becoming a sustainably profitable bank," Sewing said. Investors, however, were less convinced, sending Deutsche Bank shares down down more than 4.5% in early Frankfurt trading, to within pennies of its all-time low of €8.755, before paring the decline to around 3.84% and €8.95 each, a move that still leaves the stocks nursing a year-to-date loss of 43.55%.