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| Deutsche Bank shares fall on deal delay | Deutsche Bank shares fall on deal delay |
| (about 1 hour later) | |
| Deutsche Bank shares have dropped on reports that its boss failed to reach a swift deal with US authorities over lowering a $14bn (£11.3bn) fine. | |
| The lender was the biggest faller on Germany's main stock market in early trading and is still down about 2%. | |
| Talks between chief executive John Cryan and the US Department of Justice ended without agreement at the weekend, according to reports. | Talks between chief executive John Cryan and the US Department of Justice ended without agreement at the weekend, according to reports. |
| The bank has been under intense pressure over the size of the fine. | The bank has been under intense pressure over the size of the fine. |
| Mr Cryan was in the US for the International Monetary Fund and World Bank's autumn meetings. | |
| Some investors had hoped that while he was there, he might negotiate down a settlement for the bank's mis-selling of mortgage-backed securities. | |
| 'Talks continuing' | |
| Michael Hewson, chief market analyst at CMC Markets, said: "Deutsche Bank hasn't as yet been able to come to any agreement with the US Justice Department as it looks to overcome the hurdle of the prospect of a rather large fine. | Michael Hewson, chief market analyst at CMC Markets, said: "Deutsche Bank hasn't as yet been able to come to any agreement with the US Justice Department as it looks to overcome the hurdle of the prospect of a rather large fine. |
| "Talks are continuing while the bank looks at potentially spinning off a stake in its asset management division in order to free up some extra capital." | "Talks are continuing while the bank looks at potentially spinning off a stake in its asset management division in order to free up some extra capital." |
| Terry Torrison, managing director at McLaren Securities, said the bank was "never going to sort out the US issues that quickly". | |
| Deutsche Bank's shares touched 33-year lows at the end of September, before recovering slightly in recent days, over fears its finances are not strong enough to handle a large US fine. | Deutsche Bank's shares touched 33-year lows at the end of September, before recovering slightly in recent days, over fears its finances are not strong enough to handle a large US fine. |
| The bank declined to comment on reports Mr Cryan had failed to reach a deal. |