Shares in Germany’s two biggest lenders – Deutsche Bank and Commerzbank – fell sharply again as panic gripped global markets. They have now seen their combined market value plummet by more than £14BILLION in the past three months. Deutsche Bank shares fell by nearly four per cent to close at an all-time low amid turmoil not seen since the depths of the financial crisis in 2009. Meanwhile shares in Commerzbank, Germany’s second biggest lender, fell even further, by 4.65 per cent, to close at their lowest level in nearly two-and-a-half years.
Only last week Deutsche Bank posted record losses of £5.1 billion – higher than expected and enough to spark a fresh wave of desperate selling. It came as shares plunged in another stock market rout on Tuesday which also wiped billions from the value of the UK’s biggest banks. Germany is the world’s fourth largest economy and the fate of the eurozone relies almost entirely on its financial security. FULL REPORT
