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Commerzbank sta per essere radiata dal Dax.

Giuseppe Sandro Mela.

2018-07-06.

2018-07-06__Commerzbank__002

Il primo aprile 2000 le azioni di Commerzbank erano quotate 244.04: oggi hanno chiuso ad 8.67.

La capitalizzazione di Commerzbank ammonta a 10.731 miliardi di euro.

Solo per paragone, Deutsche Bank (non più a proprietà tedesca) capitalizza 22.24 miliardi, Banca Intesa Sanpaolo 43.088 mld, Unicredit 32.615 mld, Crédit Agricole 32.802 mld, Société Générale Société 29.415 mld, Ubs 58.104 mld, e Morgan Stanley 83.494 miliardi.

«Shares of Germany’s second-largest bank have declined as the fintech Wirecard surges to surpass it in market cap »

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«If the trend continues, Commerzbank’s days as a blue chip may be numbered»

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«That would make it all the more embarrassing if Commerzbank gets kicked out of the benchmark DAX index»

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«Ejection from the prestigious grouping of 30 blue chips would be yet another blow to the beleaguered bank, which has struggled to maintain profitability through an unending series of reorganizations»

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Il sistema bancario tedesco presenta la fragilità di un castello di carte: mirabile fino a tanto che sta in piedi, ma distruggibile alla minima bava di aria. E gli starnuti di Mr Trump arrivano fino a Francoforte.

I fatti sembrerebbero smentire la celebre farse della Bundeskanzlerin Frau Merkel, che le banche tedesche siano robuste come rocce.

Intanto, l’esodo di correntisti ed investitori prosegue implacabile.


Handelsblatt. 2018-07-06. Commerzbank may be forced out of DAX

Shares of Germany’s second-largest bank have declined as the fintech Wirecard surges to surpass it in market cap. If the trend continues, Commerzbank’s days as a blue chip may be numbered.

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At night, the yellow-lit headquarters of Germany’s second-largest bank tower over the skyline of Frankfurt, the country’s financial capital. That would make it all the more embarrassing if Commerzbank gets kicked out of the benchmark DAX index. Ejection from the prestigious grouping of 30 blue chips would be yet another blow to the beleaguered bank, which has struggled to maintain profitability through an unending series of reorganizations.

The stock has traded well below €10 ($11.65) for weeks. Its market capitalization has fallen by more than a third since the end of January, to €8.3 billion. That has already pushed it down to 34th place among publicly-traded companies in Germany, and exposed it to removal in September’s reviews under the complex rules governing inclusion in the index.

Commerzbank has been part of the DAX since its inception in 1988. Its departure would mirror that of General Electric, an original component of the Dow Jones Industrial Average, and which was unceremoniously ejected from the iconic stock-market gauge earlier this month. Removal from the DAX would put the bank’s share price under further pressure, as those funds tracking the index would quickly sell the stock to rebalance their portfolios.

German fintech Wirecard is poised to take Commerzbank’s place in the index.

Surging Wirecard could join DAX

Wirecard’s stock has risen some 60 percent in the last several weeks, overtaking Commerzbank in market capitalization and nearing that even of Deutsche Bank, the country’s flagship financial institution that risks going into an even more dangerous tailspin than Commerzbank. Wirecard, by contrast, is riding the boom in online shopping and card payments.

For the exchange to take place, Wirecard has to keep its current rank as the 30th most-valuable company and Commerzbank has to fall below 35th place. Other criteria of timing and volume also apply. But if Commerzbank slumps another 11 percent to €7.40, its fate is probably sealed.

Analysts caution that a lot can happen to a stock price between now and early September, when the DAX review takes place. Commerzbank’s shares have been dragged down by the problems at Deutsche Bank and could rebound. Likewise, Wirecard’s surge could fade. But investors remain pessimistic about the outlook for Deutsche, while the new populist government in Italy may reignite Europe’s sovereign debt crisis and weigh further on traditional bank shares. Even if the DAX switch doesn’t happen in September, it may just be a matter of time.

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