Bloomberg - Short sellers targeting Deutsche Bank again, Investec apologizes

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Short sellers are targeting Deutsche Bank again as the shares closed at a record low on Thursday.

Bloomberg News reports that bets against the bank rose to 5.1% of outstanding shares yesterday, the highest since May 2017, according to data compiled by IHS Markit. AQR Capital Management boosted their wager to more than $520 million last week while hedge fund Marshall Wace has a $150 million position.

Reports that U.S. regulators had added Deutsche Bank to a group of troubled lenders they monitor sent the stock to the record low. The company said there are no concerns about its financial stability and that it’s overhauling the operations at the center of the issue. Its shares rose as much as 4.2 percent on Friday, the most in more than a month.

Deutsche Bank Shorts Reach 13-Month High on U.S. Unit's Troubles

In the meantime, Bloomberg also reports that Investec Ltd. apologized to the chief executive officer of South Africa’s biggest sugar producer after an analyst from its research unit said Peter Staude should resign because of the “appalling” financial results of the company.

Investec Apologizes to Tongaat CEO Over Analyst Quit Call

 

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