Deutsche Bank shares are sinking as European markets open

European markets are slightly down at the open on Thursday, but more or less quiet.

Shares in Deutsche Bank, the German lender, are falling on news that it expects to book a third-quarter loss of €6.2 billion (£4.5 billion) on higher legal costs and a lower valuation for its Postbank unit.

CEO John Cryan said the bank may be forced to scrap its year-end dividend.

The shares are off more than 2% in early trading, which isn’t bad considered they had collapsed about 7% in after hours trading in New York when the news was announced overnight.

Here’s how it looks:

The only major bit of economic data that we’ve had out on Tuesday morning was the miss in German exports which slumped 5.2% in August from July.

The FTSE 100 as a whole is down 0.16%.

European markets mostly opened down a little, here’s how it stands

  • Germany’s DAX: -0.11%
  • France’s CAC 40: -0.06%
  • Italy’s FTSE MIB: -0.35%
  • Spain’s Ibex: -0.40%

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