Credit Crunch 2.0 about to start?
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Deutsche in eye of storm as banking shares dive: Major banks across Europe tumble as another wave of panic hits global financial sector
Deutsche Bank sank as much as 15% after the cost of insuring its debt soared
Stock eventually closed down 8.5%, taking losses this month to 28%
It sparked a fresh sell-off across large European finance stocks
Major banks across Europe tumbled yesterday as another wave of panic hit the global financial sector.
In the eye of the storm was German lender Deutsche Bank, which sank as much as 15 per cent after the cost of insuring its debt against default soared to a four-year high, which many took as a sign of distress. The stock eventually closed down 8.5 per cent, taking losses this month to 28 per cent.
It sparked a fresh sell-off across large European finance stocks, with rival German bank Commerzbank sliding 5.5 per cent while France's BNP Paribas and Societe Generale dropped 5.3 per cent and 6.1 per cent respectively.
In Italy, Milan-based Unicredit, the country's only systemically important bank, fell 4.1 per cent, Dutch financier ING slipped 3.7 per cent and UBS fell 3.6 per cent on the Swiss stock exchange.
UK banks also found themselves caught up in the carnage, with Barclays ending the day down 4.2 per cent, or 5.88p, at 133.9p, Standard Chartered lost 6.4 per cent, or 40.6p, to 591.8p, NatWest fell 3.6 per cent, or 9.6p, to 258.5p, Lloyds eased 2.4 per cent, or 1.14p, to 45.72p and HSBC shed 2.6 per cent, or 14.2p, to 534p.
Source :
https://www.dailymail.co.uk/money/marke ... -dive.html
Deutsche Bank sank as much as 15% after the cost of insuring its debt soared
Stock eventually closed down 8.5%, taking losses this month to 28%
It sparked a fresh sell-off across large European finance stocks
Major banks across Europe tumbled yesterday as another wave of panic hit the global financial sector.
In the eye of the storm was German lender Deutsche Bank, which sank as much as 15 per cent after the cost of insuring its debt against default soared to a four-year high, which many took as a sign of distress. The stock eventually closed down 8.5 per cent, taking losses this month to 28 per cent.
It sparked a fresh sell-off across large European finance stocks, with rival German bank Commerzbank sliding 5.5 per cent while France's BNP Paribas and Societe Generale dropped 5.3 per cent and 6.1 per cent respectively.
In Italy, Milan-based Unicredit, the country's only systemically important bank, fell 4.1 per cent, Dutch financier ING slipped 3.7 per cent and UBS fell 3.6 per cent on the Swiss stock exchange.
UK banks also found themselves caught up in the carnage, with Barclays ending the day down 4.2 per cent, or 5.88p, at 133.9p, Standard Chartered lost 6.4 per cent, or 40.6p, to 591.8p, NatWest fell 3.6 per cent, or 9.6p, to 258.5p, Lloyds eased 2.4 per cent, or 1.14p, to 45.72p and HSBC shed 2.6 per cent, or 14.2p, to 534p.
Source :
https://www.dailymail.co.uk/money/marke ... -dive.html
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
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