Storms clouds gather over Germany as exports slide by over 5%. * German trade data adds to gloom * Economist: Emerging market slowdown to blame * VW boss faces Capitol Hill * Deutsche Bank slides after shock loss warning * Coming up: the latest Bank of England interest rate decision 10.19am BST NEW TRADE DATA FROM GREECE SHOWS THAT IMPORTS AND EXPORTS BOTH FELL SHARPLY IN AUGUST, AS CAPITAL CONTROLS CONTINUED TO GRIP THE ECONOMY. Imports slumped by 8.9% year-on-year, according to stats body Elstat, from €3.3bn to €3bn. #Greece Aug Trade Deficit -8.8% to €1.12 bln, Exports -8.9%, Imports -8.9%. (ELSTAT) #economy 9.41am BST CURIOUSLY, DEUTSCHE BANK SHARES ARE NOW RALLYING IN FRANKFURT, REVERSING THEIR EARLY SELLOFF. That’s quite a turnaround, given they were expected to shed 10% after it announced its €6bn loss. Why is everyone so bothered about Deutsche writing down investments that we all knew were overvalued? Deutsche Bank down 7% after-hours in New York, down 2.5% at the open in Germany, now up 1% because ¯_(ツ)_/¯ Continue reading...
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