Deutsche Bank announces bond buyback

Deutsche Bank has announced that it is to buy back more than $5bn (£3.5bn) of its own debt.

It is buying €3bn (£2.3bn) of euro-denominated bonds and $2bn of dollar-denominated ones.

 

Rumours on Wednesday that it was about to buy the debt sent Deutsche Bank's shares soaring.

The confirmation on Friday gave the shares a bit of a boost, although they had already been up by about 10% earlier in the day.

Deutsche Bank shares slide 5% in 'Rock solid'

Shares in Deutsche Bank continued to fall on Tuesday despite assurances from the bank that its balance sheet was "rock solid".

 

The bank's shares in Frankfurt were almost 5% lower at €13.15 in mid-afternoon trade.

They fell 9.5% on Monday despite the bank issuing a statement that it had "sufficient" reserves to make bond payments.