Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,877.75
    +1,772.53 (+2.56%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,254.80
    +42.10 (+1.90%)
     
  • Crude Oil

    83.11
    +1.76 (+2.16%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Deutsche Bank CEO warns of turbulence after Italy referendum

FRANKFURT (Reuters) - Deutsche Bank's (DBKGn.DE) chief executive warned that the economic environment remained uncertain, particularly after Italian Prime Minister Matteo Renzi's defeat in a referendum over constitutional reform.

"The result of the constitutional referendum in Italy is a harbinger of renewed turbulence that could spill over from the political arena to the economy – with Europe particular endangered," John Cryan said in a letter to employees published on Deutsche Bank's website on Monday.

He also said Deutsche Bank still needed to finish negotiations with the U.S. Department of Justice, which has demanded $14 billion (11 billion pound) to settle claims the bank missold mortgage-backed securities. Cryan said he could not give details on how talks were progressing.

(Reporting by Maria Sheahan)