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Deutsche Bank shares plunge 6% on news of capital increase

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Shares in Germany's biggest lender Deutsche Bank fell as much as 6.0 per cent as the Frankfurt market opened Monday, hours after the bank announced it would raise cash by issuing new shares.

[FRANKFURT] Shares in Germany's biggest lender Deutsche Bank fell as much as 6.0 per cent as the Frankfurt market opened Monday, hours after the bank announced it would raise cash by issuing new shares.

Shares in the bank were down 5.4 per cent to trade at 18.10 euros (S$27.06) just before 0815 GMT, making Deutsche the worst performer on the Dax index of leading German companies.

Sapped by heavy losses, Deutsche on Sunday said it would deepen a long-running restructuring to focus on home market Germany and raise 8.0 billion euros in new capital.

AFP

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