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Deutsche Bank HQ raided, shares tank

By Jeff Davies

Shares of Deutsche Bank AG tested an all-time low in early trade on Thursday and weighed on the benchmark DAX index following the entry of German federal police officers into its headquarters in Frankfurt and other facilities. Prosecutors said a search is being conducted in connection with allegations of money laundering, newswires reported.

Unnamed sources indicated two people are suspected of the crime and the investigation is said to involve offshore firms, but not Danske Bank.

The embattled lender lost 4.89% to €8.172 at 09:12 am GMT. It touched a record low €8.054 on November 20. The blue-chip indicator was 0.45% in the green. Deutsche Bank fell 48.52% since the end of last year, compared to the drop of 12.13% in the index.

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