8/12/2019, 12:35 PM (Source: TeleTrader)
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Commerzbank falls to all-time low on rate pain

Commerzbank AG traded in the red on Monday for the tenth time out of the last 12 sessions and surpassed the negative record from August 2016. Shares touched €5.12 in Frankfurt amid a combined impact from the rising disputes regarding exchange rate policy on a global level, the slump in manufacturing in Germany and the Eurozone and the determination by the European Central Bank to cut borrowing costs further into negative territory.

The ailing lender, which lost its spot last year in the benchmark DAX stock index, delivered disappointing quarterly results last week. Downward pressure on interest rates may further eat away its margins and endanger the system's sustainability following the failure of merger talks with Deutsche Bank. Policymakers from the ECB have vowed to enhance stimulus in order to push inflation back up to 2%.

The bank was 2.09% in the hole at 12:19 pm CET, reaching €5.143 per share for the first time.

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