Shares in Germany's biggest lender Deutsche Bank plummetSeptember 30, 2016 - 13:00 AMT PanARMENIAN.Net - Shares in Germany's biggest lender Deutsche Bank plummeted on the Frankfurt stock market on Friday, September 30, dragging other European banks and global markets down with it, after reports some customers were pulling money out. The investors were reacting to a $14-billion fine demand from the U.S. Department of Justice (DoJ) and conflicting reports in German media over whether Berlin would come to the troubled bank's aid if necessary, which have sapped the bank's market valuation since Monday. Just after 0800 GMT, shares in the bank had shed 6.35 percent to 10.90 euros ($12.19), while traditional Frankfurt rival Commerzbank -- which itself announced a far-reaching restructuring this week -- was also pulled down, losing 6.37 percent to trade at 5.45 euros. The DAX 30 index of leading German shares fell 1.5 percent. Across Europe, banking stocks including Societe Generale in Paris, Barclays in London, Unicredit in Milan and Santander in Madrid lost between four and five percent in the first hour of trading. "The risk perception by investors is worsening," IG France analyst Alexandre Baradez told AFP in Paris. The reports of fund withdrawals "ignited the powder", he said, according to AFP. Deutsche shares had lost seven percent in New York on Thursday before trading on Wall Street ended, while markets in Hong Kong and Tokyo lost ground at open on Friday morning over worries for Deutsche's future. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |