Deutsche Bank turns to red on doubt in turnaround

Monday, 08. July 2019 12:12

Shares of Deutsche Bank AG were on a rollercoaster on Monday, swinging from strong gains to deep below the flat line. The daily high, at €7.49 per share, was unseen since May 2, but skepticism about the ability of the management to meet targets set out in the overhaul plan initiated selling pressure to take the valuation to as low as €7.01 apiece or €14.49 billion in total.

Besides cashing in on the initial spike, investors also acknowledged concern about the persistent low interest rate environment, which pushed the bank to an all-time low on June 3. Analysts pointed to failures to reach the previous turnaround goals but also to possible side effects and the weakened ambition on capital adequacy and the remaining structural challenges.

The bank traded 0.56% down at 11:56 am CET, reaching €7.135 per share.

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