Deutsche Bank was jerked around on Qatari investment reports
Deutsche Bank was jerked around on Qatari investment reports earlier in Der Speigel that suggested the oil-rich nation could raise its stake up to 25%, but this has been subsequently denied. Though the German DAX is 0.7% lower, Deutsche Bank is still 1.0% higher after the rumor/denial, having spiked as high 12.47 euros from under 12.00. RWE was the biggest loser, down 7.6%. Major U.S. indices are still 0.6-0.7% lower, led in the Dow by UT -2%, Home Depot -1.5%, and CAT -1.2% as Hurricane Matthew works its way back up the East Coast after frenzied buying of Home Depot yesterday in advance of the storm. Travelers +0.6% (fewer insurance losses from the storm) and Goldman +0.6% are the biggest gainers. Crude oil is 1.6% lower near $49.60 bbl.