Shares of Deutsche Bank hit an all-time low on Monday, falling as much as 6.8 percent, after Focus magazine over the weekend reported that Chancellor Angela Merkel had ruled out government aid for the bank.
Deutsche Bank’s new nadir highlights investor concerns about its ability to overcome thousands of legal cases and reorganize to become sustainably profitable. Its shares have fallen 53 percent in the last year, as the German blue-chip Dax Index has risen 10.6 percent.
Even though a spokesman for Ms. Merkel and the bank denied the report, the bank’s shares tumbled, reflecting the worry surrounding an institution hobbled by legal costs and penalties from cases that stretch back a decade or more.
Record lows are hardly new for Deutsche Bank these days. Earlier share price lows were reached last month and in February of this year. At 2:45 p.m. in Frankfurt, the bank’s shares were trading down 5.4 percent at €10.74.