first_img Deutsche Bank yesterday said sales and trading activity during July and August was weaker than a year ago, providing a warning shot that third-quarter investment banking earnings could be weak across the board.In a trading update provided as part of the prospectus for Deutsche Bank’s planned €10.2bn (£8.6bn) capital increase, Germany’s flagship lender said it expects to post a loss during the third quarter thanks to a one-off charge and weaker trading. The main reason for the loss is a €2.3bn revaluation charge for the bank’s stake in Deutsche Postbank, but news of weak trading over the summer months sent jitters across the sector.Deutsche Bank shares closed down 4.5 per cent, helping send the Stoxx Europe 600 banking index down 0.8 per cent lower as Deutsche Bank’s rivals UBS, Credit Suisse and HSBC closed down one per cent or more.Deutsche Bank said sales and trading revenues at its corporate banking and securities (CB&S) businesses suffered seasonal reductions in July and August that were “more marked than in the comparable third quarter of 2009”.In the third quarter of 2009 Deutsche Bank had posted a pre-tax profit of €1.4bn. Tuesday 21 September 2010 8:31 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp whatsapp Deutsche Bank set for a third quarter loss Share Show Comments ▼ KCS-content Tags: NULLlast_img

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