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Deutsche Bank Falls as CFO Warns of Securities Unit Headwind

  • CFO says euro gains, funding-cost changes affecting revenue
  • Annual report said volatile markets will help arrest declines
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Bloomberg’s Elisa Martinuzzi discusses Deutsche Bank’s stock plunge with Mark Barton.(Source: Bloomberg)
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Less than a week after the bank sounded a bullish tone, a Deutsche Bank AG executive poured cold water on investors again.

Chief Financial Officer James von Moltke said at a Morgan Stanley conference Wednesday that the euro’s gain against the dollar will reduce revenue at the bank’s securities unit by about 300 million euros ($368 million) this quarter compared to a year ago, calling the effect a “headwind.”