|Bid||0.000 x 200000|
|Ask||0.000 x 110000|
|Day's Range||6.57 - 6.70|
|52 Week Range||5.50 - 12.97|
|Beta (3Y Monthly)||1.89|
|PE Ratio (TTM)||9.46|
|Earnings Date||May 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.78|
Futures fell 0.4 percent in New York on Thursday. The Energy Information Administration reported nationwide crude stockpiles rose for a fifth straight week and production skyrocketed to 12 million barrels a day, a record-high. Oil has rallied above $57 a barrel this year in New York as OPEC and its allies began implementing output curbs as part of a joint agreement.
Futures in New York on Monday rose to the highest intraday level since Nov. 20, after advancing 5.4 percent last week. Prices were also supported as Saudi Arabia pledges to cut its crude output beyond the level agreed with OPEC+ producers. "OPEC+ supply cuts are in the driving seat of further recovery in oil prices with Saudi Arabia leading by example," said Giovanni Staunovo, a commodity analyst at UBS Group AG in Zurich.
Germany's two leading SME business associations publicly opposed a merger of Deutsche Bank and Commerzbank on Friday, arguing a combination could curb competition. German Finance Minister Olaf Scholz has dismissed media reports that the government is pressing for a merger of the country's two main banks before May as "speculation". Germany's Mittelstand, as its small and medium-sized firms are known, make up more than 99 percent of all registered companies in Europe's largest economy, account for more than 97 percent of exports and employ about 60 percent of its workforce.
BERLIN (Reuters) - Both Deutsche Bank and Commerzbank have fairly low stock values which naturally exposes them to possible takeovers from bigger financial institutions, German Deputy Finance Minister ...
Martin Zielke, chief executive, said the bank aimed to increase annual revenues by an average 3 per cent, which implies a total level of close to €9.2bn by 2020. The lender confirmed it was on track to meet its 2020 cost target of €6.5bn despite a 0.7 per cent increase in non-interest expenses last year. Stephan Engels, the bank’s chief financial officer, told journalists the lower revenue growth implied that the 2020 return and profitability targets would be missed as well.
, which serves the country’s industrial Mittelstand, also operates within the tightest of parameters. Persistently negative eurozone interest rates squeeze its profits. Commerzbank nevertheless pushes ahead with expansion, as well as cost cutting.
Sterling fell deeper into negative territory in early New York action on Monday with traders weighing gloomy economic data and persistent Brexit uncertainty. The economy contracted 0.4 per cent in December, the biggest monthly fall since March 2016, the Office for National Statistics said. In addition to the economy, Brexit has been in sharp focus, with the UK’s break from the EU looming weeks away, on March 29.
German Finance Minister Olaf Scholz said on Friday he was in talks with banks about their future and called reports of a merger of Deutsche Bank and Commerzbank "speculation". Media reports have said Germany would want a merger of its two main banks to go through before European Parliament elections in May. Scholz said he couldn't imagine what the elections have to do with the banking sector and was speculation that he could not understand.
The U.S. currency has picked up this month after being hurt by the longest U.S. government shutdown in history, prompted by Trump’s efforts to obtain funding for a wall on the border with Mexico. If the president chooses to escalate this issue in his speech later Tuesday, the dollar could be set to extend this year’s drop, according to Mizuho Securities Co. and Westpac Banking Corp. “There’s likely to be a nervous reaction -- weighing on Treasury yields and stocks -- if Trump just complains about Democrats and threatens another shutdown next week if they don’t agree to wall funding,” said Sean Callow, senior currency strategist at Westpac.
Sewing said the bank would return to “controlled” growth, a promise that eluded his predecessor, and said if revenue keeps disappointing, he’ll find more savings. “However, for now, we remain concerned about Deutsche Bank’s inability to turn around” fixed-income trading. Sewing, who only took over last year, has pleaded for patience with his strategy of expense controls and a scaled-back investment bank, but government is worried he may not succeed before the next economic slowdown.
The German government is prepared to back a potential merger of Deutsche Bank AG and rival Commerzbank AG to create a national banking giant, responding to deep skepticism among shareholders, clients and others about the health of the two banks. A senior German regulator told The Wall Street Journal in recent weeks that he had reviewed and unofficially endorsed plans to merge the two banks. The regulator added that Chancellor Angela Merkel’s conservatives, who govern as a senior partner in a coalition with Mr. Scholz’s Social Democrats, have also accepted the idea of a merger, according to discussions he had with conservative politicians.
Time is running out for Deutsche Bank to turn around on its own, making a merger with rival Commerzbank more likely, two people with knowledge of the matter said on Thursday. Bank executives, analysts, government officials and some investors thought until some months ago that both banks had more time to turn around independently, but that opinion has recently changed, one of the people said. A major investor is awaiting market reaction to both banks' earnings over the next couple of weeks before deciding on the need for a merger, said a second person close to the investor.
Bank executives, analysts, government officials and some investors thought until some months ago that both banks had more time to turn around independently, but that opinion has recently changed, said one of the people. Deutsche Bank, Commerzbank, and the German finance ministry declined to comment. Deutsche Bank Chief Executive Officer Christian Sewing has repeatedly said in public that he was focused on the bank's "homework" - returning the bank to profitability after three years of losses.
On the eve of fourth-quarter results that are likely to reflect its troubles, the bank’s ability to avoid a government-brokered merger with Commerzbank AG could rest on its performance in the first quarter of 2019, according to people briefed on the thinking of its top executives. A spokesman for Deutsche Bank declined to comment. “If this is true, the economic situation at Deutsche Bank must be worse than seen by the outside,” said Andreas Plaesier, an analyst with M.M. Warburg.
Deutsche Bank is gearing up for a potential merger with rival Commerzbank by mid-year as time runs out for executives at the struggling lender to turn the German bank around, Bloomberg reported.
Germany's finance ministry holds talks with Commerzbank in connection with its holding in the lender, the ministry said, when asked to comment on a report that the finance minister had met with representatives of the bank to discuss a potential merger with Deutsche Bank . "Apart from that, the finance minister and state secretaries, as part of their mandate, are in contact with a number of actors in all groups of society, particularly in the field of financial policy," the ministry said in a statement. German daily Frankfurter Allgemeine Zeitung earlier reported that the finance ministry had held talks with representatives of Commerzbank and private equity firm Cerberus, one of the biggest shareholders in the country's two leading banks.
Germany's finance ministry held talks with representatives from Commerzbank (CBKG.DE) and private equity firm Cerberus (CBS.UL), one of the biggest shareholders in the country's two leading banks, the Frankfurter Allgemeine Zeitung reported on Thursday. Citing a letter from a deputy finance minister to a member of Germany's parliament in response to questions, the paper said Finance Minister Olaf Scholz and his deputy Joerg Kukies held a number of meetings in recent months. Earlier this month, a finance ministry letter showed Germany's finance ministry regularly met with top Deutsche Bank (DBKGn.DE) executives in 2018, fuelling speculation of merger talks with Commerzbank.
The mooted merger between Deutsche Bank AG and Commerzbank AG would make a mockery of any notion that EU governments are serious about ending the “too big to fail” problem. It would also turn back the clock on a guiding principle of European regulation over the past decade: The promotion of a “banking union,” where risks are shared widely across the continent on the basis of jointly decided rules. Berlin clearly has a problem when it comes to Deutsche, its most iconic lender. The bank has come under the scrutiny of regulators across the world because of its large portfolio of illiquid assets, as well as its implication in a string of money-laundering scandals and its dubious and relatively weak capital position.
Talks about a possible merger between Deutsche Bank, the biggest German lender, and its smaller domestic rival Commerzbank are on again. The key questions are why, and why now?
European bank regulators do not think Germany's two largest banks, Deutsche (DBKGn.DE) and Commerzbank (CBKG.DE), should merge, a source with direct knowledge of the matter said. Commerzbank is too small to make a difference for Deutsche Bank, and both need to focus on increasing profitability and stabilizing their businesses, the source told Reuters. Deutsche Bank and Commerzbank, which are regulated by the European Central Bank (ECB) and German financial markets watchdog BaFin, declined to comment on the situation.