Germany’s Deutsche, Commerzbank fall after Reuters scoop
10.24.2008
Reuters unearthed a scoop hidden in a morass of banking data which set trading rooms chattering and the international press scrambling to catch up on Oct 24. The news that Germany’s banks had lent most to Icelandic borrowers immediately rattled investor nerves, helping to send Commerzbank’s shares falling by up to 6 percent as Deutsche Bank’s stock also nosed downwards. The scoop — the result of information from a top source and in depth research with BIS experts — later made the front page of newspapers such as the Wall Street Journal, Handelsblatt and Financial Times Deutschland and appeared prominently in others such as Boersen Zeitung.
