Monday, April 25, 2016

+++ +++ Market News: Acquittal of Fitschen and four other top managers – ABC Online

Updated Monday, 04.25.2016, 18:11
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Dax bags under 10,300 points -. Weak Ifo index charged

18:07: The German stock market dropped further to week start. According to stockbrokers dimmed on Monday falling oil prices and disappointing economic data the mood. Investors are relatively cautious, the atmosphere cool despite the recent rebound somewhat, said mood researcher Manfred Hübner by Sentix.

The Dax closed 0.76 percent lower at 10 294.35 points. The German index is thus continuing its trend of weaker end of last week. Since the beginning of the current recovery move on April 8 remains for Dax barometer but to a plus of eight percent.

Despite the moderate Dax course there was the index end severe losses. Deutsche Bank equities fell from 4.32 percent, ThyssenKrupp also declined by 3.94 percent and E.on -Aktien lost 2.84 percent.

The MDAX of medium values ​​lost on Monday 0.15 percent to 20 351.41 points. There, the shares of advertising sales Ströer could down after the slump on Friday again to 4.87 percent. The technology index TecDAX hand claimed an increase of 0.03 per cent to 1645.67 points.

Surprisingly, the mood of German companies had deteriorated in April, as from the released Monday slight decline in Ifo business climate apparent. “The German entrepreneur camp is still uncertain,” Chief Economist Thomas Gitzel wrote by VP Bank. The sting of the financial turmoil at the beginning of still sit deep. In addition, oil prices were weaker start to the trading week

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Weak Ifo index and falling oil prices weigh Dax

13:11: the falling oil prices and disappointing economic data have ruined investors in the stock market on Monday slightly mood. The German index Dax tied after a slow start to its losses from Friday and fell 0.64 percent to 10,307.45 points. In the two previous weeks, the stock market barometer was jumped by almost eight percent

acquitted all defendants in the German-Bank-process

10:52:. The Co- head of Deutsche Bank, Jürgen Fitschen, and four former top managers of the money the house have been acquitted of charges of attempted process fraud on Monday. The one year lasting proceedings before the Munich District Court has not confirmed the charges against the five bankers according to the judge. "The Tatvorwüfe have not been confirmed," it said in sentencing. For Fitschen acquittal few weeks before his farewell to the head of Deutsche Bank's one last triumph.

The prosecution had Fitschen, his predecessors Josef Ackermann and Rolf Breuer and two other ex-bankers accused five years ago to have lied before the Munich Higher Regional court in order to preserve the German bank before payment of compensation for the bankruptcy of the Kirch media group. For Ackermann and Breuer, prosecutors had called for more prison sentences for Fitschen a suspended sentence and a fine.

The judge had but hinted several months ago that not convinced him the charges. . The defendants had denied the allegations from the start

Postbank will replace employees by machines - disappears the free checking account

10:37: Postbank plans to reduce its branch network and replace employees by machines. "We want to automate more stores," said Postbank boss Frank Strauss in an interview with the "Süddeutsche Zeitung" on Monday. In addition, Postbank wonder "merge some branches in metropolitan areas". In the future there will be also stores in which only one employee working, because a new POS system make the two-man rule unnecessary.

The revenue potential of banks had decreased because of negative interest rates. "That's why we can not get in the discussion on prices over," Strauss told the newspaper. "It is possible that we will not have a free account, which then, however, only certain services includes," he added.

With the fees for paper transfers Postbank have had good experiences. "The customers have accepted, some estimates the service and pay the, but others simply use other forms of transfer," Strauss said. Postbank collected since last year 99 cents for paper transfers, until then they had tasted nothing.

Because of the continuing low interest earning banks, savings banks and cooperative banks significantly less. Therefore, many increase the cost for accounting or other services.

Ifo Business Climate Index becomes cloudy surprisingly a

The mood in the German economy deteriorated slightly in April, but remains positive. The Ifo Business Climate Index fell month on month by 0.1 to 106.6 points as the Ifo Institute for Economic Research announced in Munich on Monday. The surveyed 7,000 companies assessed their current business situation worse one - able index fell from 113.8 to 113.2 points. In contrast, the Company classified its business outlook for the coming half year better: The expectations index rose from 100.0 to 100.4 points

verdict in the trial of German bank manager Fitschen. Judge interrupts process

9:45 In the criminal case against the co-head of Deutsche Bank, Jürgen Fitschen, and four former managers of the Frankfurt Institute has the process "for sentencing 'interrupted until 10:35 the judge.

Dax treading water - remains at 10,384 points

9:25 the investors in the German stock market have held back earlier this week. After the recent rally, the DAX in the first few minutes on Monday at only 0.10 percent to 10,384 points. The index of medium-sized values ​​MDax rose 0.20 percent to 20,424 points, the technology index TecDAX was about 0 , 44 percent to 1652 counter top. The Euro-zone leading index Euro Stoxx 50 advanced by 0.16 percent. . For movement could in the morning, the Ifo business climate provide

verdict in the trial of German bank manager Fitschen expected

7:01 One year after the trial started should the judgment in the criminal case against the co-head of Deutsche Bank, Jürgen Fitschen, and four former managers of the Frankfurt Institute will be announced on Monday (9:30). For the accused is expected an acquittal by allegations of fraud. The presiding judge Peter Noll had already made it clear that the prosecution has left him unconvinced

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