Deutsche Bank shares slump

Deutsche Bank shares dropped to a record low and its riskiest bonds declined after a media report said the German government would not step in to back the lender, fuelling investor concerns about its weakened finances.

The shares slumped 6% to €10.73 yesterday afternoon, bringing losses to about 52% this year.

The lender’s €1.75bn of 6% additional Tier 1 bonds, the first notes to take losses in a crisis, fell about 2c on the euro to 73c, near a seven-month low, according to data compiled by Bloomberg.