Deutsche Bank shares slide 8% after a sudden spike in default insurance costs
The German lender's shares retreated for a third consecutive day and have now lost more than a fifth of their value so far this month.
A logo stands on display above the headquarters of Deutsche Bank AG at the Aurora Business Park in Moscow, Russia.shares fell by more than 8% in early trade on Friday following a spike in credit default swaps on Thursday night, as concerns about the stability of European banks persisted. The German lender's shares retreated for a third consecutive day and have now lost more than a fifth of their value so far this month. Credit default swaps — a form of insurance for a company's bondholders against its default — leapt to 173 basis points on Thursday night from 142 basis points the previous day.
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