It appears that Los Angeles-based Capital Group has thrown in the towel on its investment in Deutsche Bank, as well as rival Commerzbank.
Bloomberg News reported that an offering of 116 million shares in Deutsche Bank XE:DBK and 72.5 million shares in Commerzbank XE:CBK was priced.Bloomberg News reported that an offering of 116 million shares in Deutsche Bank DBK and 72.5 million shares in Commerzbank CBK was priced.
While it’s not clear who made that sale, Capital Group is the only actively managed institutional shareholder, according to FactSet data, that had enough stock in both to make such a sale.Both stocks were hammered in early trade, with Deutsche Bank down 10% and Commerzbank down 9%.Sentiment in the German economy has soured as the country deals with an inflation crisis exacerbated by Russia’s invasion of Ukraine.
The Ifo business climate index for Germany suffered a record collapse in March, mostly due to deteriorating expectations.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BMW Group to clean up manufacturing of its alloy wheels from 2024 | EvoAs it works towards a cleaner future, BMW is ensuring that its cast alloy wheels will use only renewable energy for production by 2024 -
Read more »
Environmental group calls for deflating tires of SUVs to combat climate change: target ‘wealthy areas’A radical environmental group raised a few eyebrows on Twitter after encouraging people to let the tires out of SUVs in an apparent bid to combat climate change.
Read more »
Secret Republican group budgets millions for media and influencer programsThe Rockbridge Network includes Peter Thiel
Read more »
Aid Group Warns Palestine Wheat Reserves Could Soon Run Out Amid Ukraine Crisis'The reliance on imports and the constraints forced upon them by Israel's continuing military occupation, settler violence, and land grabs are compounding the food crisis.' —Oxfam
Read more »
Nine volunteer drivers on rescue mission to Mariupol detained by Russian forces, aid group saysNine drivers working for 'Help People,' a Ukrainian volunteer group that provides food and medicine for those in need and assists in evacuations, were detained by the Russian military and remain missing, a group official told CNN.
Read more »