Deutsche Bank tumbles on €1.2bn loss

Shares in Deutsche Bank have fallen five per cent this morning after the bank’s shock announcement last night that it was hit by a pre-tax loss of €1.153bn in the last quarter of 2013.

Litigation expenses and one-off restructuring costs weighed heavily on the lender.

Market consensus had been for profits of around €700m. The bank has said it expects to post a profit for 2013 as a whole.

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