Deutsche Bank shares slide on new legal case

23rd January, 2019 10:39:15 printer

FRANKFURT AM MAIN: Shares in Germany's biggest lender Deutsche Bank slid Tuesday, as the institution dismissed claims for 11 billion euros ($12.5 billion) from the plaintiff in a new legal case.

By 1:10 pm (1210 GMT), stock in the financial firm was down 3.1 percent at 7.73 euros in Frankfurt, against a DAX index of blue-chip shares down 0.5 percent, report agencies.

Shares in Deutsche lost more than half their value over 2018, but are on a positive trend so far in the new year. The latest round of rumours that wedding bells could be in the offing with rival Commerzbank have helped push Deutsche's stock price up 11 percent since January 1.

It now faces a case in a Frankfurt regional court claiming 11 billion euros from Stuttgart-based former oriental rug trader Hafez Sabet.