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Deutsche Bank shares drop on unexpected loss

By David McHugh
Published January 20, 2014 11:59am ET
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Deutsche Bank shares drop on unexpected loss
FILE - In this July 30, 2013 file photo a traffic sign stands near the headquarters of Deutsche Bank in Frankfurt, Germany. Shares of Deutsche Bank AG have fallen sharply after Germany's biggest lender announced a large fourth-quarter net loss, its results weighed down by one-time expenses and losses on investments it is disposing of to strengthen its finances. The bank on Sunday night, Jan. 19, 2014 posted a fourth-quarter net loss of 965 million euros (US dollar 1.3 billion), an announcement that came 10 days before it was scheduled to release its results. (AP Photo/Michael Probst, File) | Michael Probst

FRANKFURT, Germany (AP) — Shares of Deutsche Bank AG fell sharply on Monday after Germany’s biggest lender announced an unexpected fourth-quarter loss largely due to weak investment banking results and the cost of strengthening its finances.

Deutsche Bank, which warned the headwinds will continue this year, saw its stock slump 3.9 percent in early trading to 37.80 euros, making it the worst performer on Frankfurt’s DAX index.

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