Stock Markets Struggle After Merkel Rules Out Deutsche Bank Rescue

Tuesday, September 27, 2016

The FTSE 100 struggled on Monday as the top flight companies saw £23 billion wiped off their value. Investors were quick to sell shares as German Chancellor Angela Merkel ruled out the possibility of a government rescue for the struggling Deutsche Bank.

The German lender lost £5.9 billion last year, and its US arm failed a Federal Reserve test, adding to fears that the bank may be about to hit some solvency problems. US authorities shocked markets last week, hitting Deutsche bank with a £10.8 billion bill over its mortgage practices during the financial crisis. The bank insists that it will not be required to pay the full amount of the fine, and that it will be engaging in continued negotiations over the final figure.

Deutsche Bank’s...

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CompanyPriceChange
Evraz164.00p6.90 % rise4.39 %
Grafton Group Units488.90p19.90 % rise4.24 %
Diploma875.50p35.50 % rise4.23 %
AA297.00p12.00 % rise4.21 %
Sky882.50p35.00 % rise4.13 %
CompanyPriceChange
Sainsbury (J)241.00p9.80 % fall3.91 %
International Pers..256.00p9.80 % fall3.69 %
ICAP460.40p17.30 % fall3.62 %
Royal Mail486.20p16.80 % fall3.34 %
Tritax Big Box Reit138.90p4.70 % fall3.27 %

IndexValueChange
FTSE 1006,849.3841.71 % rise0.61 %
FTSE 25017,792.28163.57 % rise0.93 %
FTSE 3503,786.5625.01 % rise0.66 %
FTSE Small Cap4,970.640.86 % rise0.02 %
FTSE All Share3,730.6523.82 % rise0.64 %
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AXMAlexander Mining0.22p0.01 % rise4.76 %46,173,994
MXOMX Oil1.25p0.05 % rise4.17 %42,902,764
PXOGProspex Oil and Gas2.48p0.14 % rise6.22 %38,756,484
GLENGlencore209.35p1.10 % rise0.53 %36,991,603
BARCBarclays166.10p0.15 % rise0.09 %35,145,499
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LGENLegal & General Group219.00p2.80 % rise1.30 %15,279,456
CHAConcha1.15p0.08 % rise6.98 %14,783,185
MRWMorrison (Wm) Supermarkets220.00p1.40 % rise0.64 %14,355,464
BOOBoohoo.com102.75p4.25 % rise4.31 %13,078,651

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