HomeEconomyDeutsche Bank shares fall...

Deutsche Bank shares fall 13%

Image: Getty Images

Bank shares fell for the third day in a row. Investors are concerned about the stability of the EU banking sector.

The shares of one of the largest banks in the eurozone, the German Deutsche Bank on Friday, March 24, fell in price by 13%. At the low point, the price of the security fell to 7.9 euros per share, breaking the record of the last five months, according to data from the XETRA exchange.

Bank shares fell for the third day in a row. Since the beginning of March, Deutsche Bank has lost almost 20% of its value, Reuters wrote.

The immediate cause of the current decline is a sharp increase in the value of bank credit default swaps (CDS), from 142 basis points to more than 200 basis points. This is the highest since 2019.

CDS is an indicator of problems in the market – the price of insurance rises against the backdrop of doubts about the stability of the issuer among the holders of the securities.

It should be noted that such market sentiments testify to the growing fear of investors about the stability of the European banking sector. They have massively withdrawn funds from the securities of credit institutions.

Recall that in early March, two banks went bankrupt in the United States – Silicon Valley Bank and Signature Bank. And in Europe, due to financial problems, the second largest Swiss bank Credit Suisse merged with competitor UBS.

news Correspondent.net on Telegram. Subscribe to our channel Athletistic

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...

In Pryluky, RF Postal House -Topl in the leader of the leader

In Pryluky, a hostile drone hit the house of the head of the local fire department. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } His family was killed: his wife,...

Russians were pushed to Constant and could be shot by a garden from artillery

The Russians have advanced towards Konstantinovka and are already shooting from artillery Ukrainian positions near the city. This is indicated in the report of the Institute of Military Research (ISW). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...