deutsche bank drags european equities lower
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Over the weekend to raise €8.0bn

Deutsche Bank drags European equities lower

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleDeutsche Bank drags European equities lower

Shares in Deutsche Bank, Germany's biggest lender
New York - Arab Today

European stocks sank on Monday after Germany's troubled Deutsche Bank unveiled plans over the weekend to raise 8.0 billion euros ($8.5 billion) in fresh capital.

Sentiment also remained downbeat as investors took profits from last week's surge, which was rooted in hopes of a public spending splurge under US President Donald Trump. 

US stocks spent the whole day in the red, with analysts pointing to a variety of concerns, including the lack of progress on Trump's economic agenda and the prospect of the Federal Reserve raising interest rates next week.

"President Trump switching gears from a conciliatory speech to accusing (former president) Barack Obama of wiretapping unwinds some of the cross-party good feelings that could have helped pass tax and spending reform policies," said Jasper Lawler, senior market analyst at London Capital Group.

Shares in Deutsche Bank, Germany's biggest lender, dived nearly eight percent in Frankfurt, after announcing Sunday it would raise cash by issuing new shares. 

The announcement marked a U-turn for CEO John Cryan, who until recently insisted no such move was needed.

There was fallout across the European financial sector.

Royal Bank of Scotland shares shed 2.6 percent and Barclays gave up 1.9 percent in London, while BNP Paribas and Societe Generale dropped 1.0 percent and 2.0 percent respectively in Paris.

London won a partial boost, however, after British financial services group Standard Life agreed to buy Aberdeen Asset Management for £3.8 billion ($4.7 billion, 4.4 billion euros) to create one of the world's biggest fund managers.

The combined business will have a stock market capitalization of £11 billion and oversee assets worth £660 billion -- making it one of the largest investment managers in the world and the biggest in Britain.

The news sent Standard Life's share price 5.7 percent higher, while Aberdeen stock gained 4.4 percent.

Shares in French carmaker PSA revved 2.7 percent higher after it announced the acquisition of General Motors' European subsidiary, which includes the Opel and Vauxhall brands, for 1.3 billion euros.

The move sees PSA regain its position as Europe's second-largest automobile manufacturer, after Germany's Volkswagen, overtaking rival French firm Renault.

Shares in GM fell 0.8 percent in New York after disclosing that it will take a charge of up to $4.5 billion mostly due to pension expenses associated with the transaction.

In Asia, Tokyo stocks fell and the safe-haven yen advanced after North Korea fired four missiles -- three of them landing in Japanese waters -- fueling fresh geopolitical concerns. 

Japan Prime Minister Shinzo Abe warned the threat from North Korea had "entered a new stage" following the missile launch, which came after Pyongyang fired a rocket last month.

But Asia's other markets started the week with gains after another positive lead from Wall Street and remarks by Federal Reserve boss Janet Yellen signaling US interest rates  could rise this month as the economy continues to improve.

Hong Kong stocks rose 0.2 percent and Shanghai finished 0.5 percent higher.

- Key figures around 2200 GMT - 

New York - Dow: DOWN 0.2 percent at 20,954.34 (close)

New York - S&P 500: DOWN 0.3 percent at 2,375.31 (close)

New York - Nasdaq: DOWN 0.4 percent at 5,849.17 (close)

London - FTSE 100: DOWN 0.3 percent at 7,350.12 points (close)

Frankfurt - DAX 30: DOWN 0.6 percent at 11,958.40 (close)

Paris - CAC 40: DOWN 0.5 percent at 4,972.19 (close)

EURO STOXX 50: DOWN 0.5 percent at 3,388.09

Tokyo - Nikkei 225: DOWN 0.5 percent at 19,379.14 (close)

Hong Kong - Hang Seng: UP 0.2 percent at 23,596.28 (close)

Shanghai - Composite: UP 0.5 percent at 3,233.87 (close)

Euro/dollar: DOWN at $1.0582 from $1.0619

Pound/dollar: DOWN at $1.2236 from $1.2292

Dollar/yen: DOWN at 113.90 yen from 114.05 yen

Oil - West Texas Intermediate: DOWN 13 cents at $53.20 per barrel

Oil - Brent North Sea: UP 11 cents at $56.01 per barrel 

Source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

deutsche bank drags european equities lower deutsche bank drags european equities lower

 



Themuslimchronicle, themuslimchronicle

GMT 09:08 2017 Monday ,18 December

Lufthansa wants to 'destroy' Niki airline

GMT 08:31 2017 Tuesday ,07 March

Deutsche Bank drags European equities lower

GMT 10:56 2017 Sunday ,17 December

Shikhar sure India won’t wilt under the pressure

GMT 10:08 2017 Friday ,15 September

Pakistan's fatal attraction to celebratory gunfire

GMT 21:43 2017 Thursday ,09 February

Al Attiyah left Tunisia to Genève

GMT 08:59 2018 Monday ,08 January

Europe casts a wary eye on China's Silk Road plans

GMT 10:05 2016 Monday ,10 October

Trump's locker-room comment riles US athletes

GMT 13:59 2011 Wednesday ,27 July

Journalist Salameh at death’s door

GMT 11:37 2017 Saturday ,23 December

Major powers seek to hold Sochi congress

GMT 03:03 2016 Tuesday ,28 June

'I'm still alive' jokes Queen Elizabeth

GMT 17:29 2017 Saturday ,09 September

Chloe Gosselin appoints Emma Beckett PR

GMT 14:06 2017 Tuesday ,19 September

Aurelia Probiotic Skincare launches Christmas Candles

GMT 08:47 2017 Tuesday ,19 December

Singer Haifa Wahby launches new clip

GMT 07:11 2017 Thursday ,07 September

World Cup failure puts Qatar back in spotlight

GMT 20:58 2016 Wednesday ,30 November

October 23 - November 21

GMT 15:49 2016 Saturday ,26 March

2 executed for murder in Dammam 

GMT 09:59 2017 Wednesday ,15 February

NBC to take stake in Euronews in global push

GMT 01:50 2016 Saturday ,24 September

23rd Tokyo International Book Fair kicks off
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle