deutsche bank drags european equities lower
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Over the weekend to raise €8.0bn

Deutsche Bank drags European equities lower

Arab Today, arab today

Arab Today, arab today Deutsche 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

arabstoday
arabstoday

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

 



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

 



GMT 08:23 2017 Monday ,03 April

Tesla tops quarterly sales forecast

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 05:28 2017 Sunday ,26 November

Gas exporters call for 'fair price'

GMT 10:51 2018 Tuesday ,11 December

Cloudy weather with rain showers forecast Tuesday

GMT 20:00 2017 Monday ,25 September

Tourism minister leaves for France to attend Top Resa

GMT 22:07 2017 Tuesday ,02 May

UAE soldier martyred in Yemen

GMT 00:25 2017 Sunday ,10 September

Philippines Sees the Bloodiest

GMT 20:21 2017 Wednesday ,08 November

Ambassador Aizaz Chaudhry met members of Congress in US

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:16 2017 Monday ,25 December

Sharjah Ruler issues Emiri Decree on SGMB functions

GMT 13:16 2017 Sunday ,15 October

Qatari sheikh says assets frozen over Gulf crisis

GMT 12:50 2017 Saturday ,11 November

ICC prosecutor calls for Afghanistan war crimes probe

GMT 13:28 2012 Friday ,17 February

NYT\'s Anthony Shadid dies in Syria

GMT 16:44 2017 Friday ,01 September

Al-Bashir to partake in OIC Summit in Kazakhstan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday