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this reason shld triger Euro-led stock correction?
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niuyear
Supreme |
22-Sep-2010 17:16
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Euro bank, no sweat lar.. | ||
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rickyw
Master |
22-Sep-2010 17:15
Yells: "keep happy..." |
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Wah dont say... stocks plunge bcos investor worried about euro zone
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nickyng
Supreme |
22-Sep-2010 17:03
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hee..... :P Deutsche Bank shares plunge on profit warning FRANKFURT : Shares in Germany's biggest bank, Deutsche Bank, plunged in early trade on Wednesday after it issued a profit warning. The bank's stock showed a loss of 8.45 percent to 40.97 euros while the DAX index of leading shares was 0.51 percent lower overall. Deutsche Bank said Tuesday it would book a loss in the third quarter of its fiscal year stemming from its purchase of Postbank. On Wednesday, Deutsche Bank launched a capital increase of 10.2 billion euros (13.6 billion dollars), its biggest ever, to pay for the acquisition of up to 30.6 percent of the shares in Postbank, which has Germany's biggest retail bank network. The subscription offer runs from Wednesday to October 5 and the shares are to be listed in Frankfurt and New York from October 6. Deutsche Bank already owns nearly 30 percent of Postbank and the deal will see the biggest German bank strengthen revenue from retail operations and balance its current focus on investment bank activities. Comments made Tuesday about third-quarter results in its rights issue prospectus were interpreted as a surprise profit warning, Merck Kinck analyst Konrad Becker said. Deutsche Bank is set to acquire the remaining shares in Postbank from German logistics group Deutsche Post in several steps in 2012-2013 at an already agreed price of 45 euros per share. - AFP /ls |
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