DAX: Trending on Twitter is Deutsche Bank – for all the wrong reasons – as their credit default swap price balloons suddenly..Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

DAX SHORT TERM TRADER: Short at 11800; stop above 12200. Target 11400.

DAX POSITION TAKER: Short at 11800; stop above 12400. Target 9500.

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ECB spots €10 billion black hole
Bad debt rules may be redundant

In a report out late yesterday the European Central Bank announced it had found ‘shortcomings and miscalculations’ worth over €10 billion following inspections at Eurozone banks through 2017. Mario Draghi said, ‘in 2018 banks continue to face some key challenges. These include cleaning up their balance sheets, reducing legacy exposure originating from the financial crisis,
such as certain non-marketable financial products, and from the GreatRecession, such as non-performing loans’. Ten years on and still a trainwreck. Daniele Nouy hinted at a change of view on bank capital ratios.

Swedish fashion retailer H&M reported Q1 profits of 1.2 billion kronor, 62 percent down on this time last year and the lowest in 16 years, Bloomberg reports. They blamed it on severe and changeable weather which left the chain with the biggest unsold inventory of clothing in two decades.

 

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