Previous close | 2,802.00 |
Open | 2,781.00 |
Bid | 2,855.50 x 0 |
Ask | 2,866.50 x 0 |
Day's range | 2,781.00 - 2,854.00 |
52-week range | 2,781.00 - 2,854.00 |
Volume | |
Avg. volume | N/A |
Market cap | N/A |
Beta (5Y monthly) | N/A |
PE ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | N/A |
1y target est | N/A |
Russian gas and Polish populism look more like a flagon of hemlock than an invigorating cocktail of risk
A serious shortage of natural gas supplies could trigger “a chain reaction with unforeseeable consequences” for the German economy, said Commerzbank, one of the country’s biggest corporate lenders. The German bank warned on Wednesday of a “severe recession” in the country if Russia cuts off gas supplies, saying it could trigger an economic crisis similar “to the one that occurred after the financial crisis in 2009”. Commerzbank added that the rationing of gas would then “probably be inevitable”.
Germany's Commerzbank swung on Wednesday to a bigger-than-expected second-quarter net profit, helped by higher interest rates and commission income, and confirmed it was on track to meet its profit target despite "clouds" on the horizon. The return to profit at Germany's No. 2 bank is a victory for CEO Manfred Knof, who joined the company at the start of 2021 to carry out a 2 billion euro restructuring programme involving hundreds of branch closures and 10,000 job cuts to get back on a sustainable path. Analysts had on average expected a profit of 370 million euros, according to a consensus forecast published by Commerzbank.