International stocks slumped Monday. The Nikkei 225 Average closed down 1.4%, falling 115.0498 to 8,397.22, while the FTSEurofirst 300 index closed down 6.3%, or
222.52 lower, at 4,065.49. Financial stocks were ailing.
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Canadian banks are down on reports that several are announcing large write-downs.
They include Royal Bank of Canada, Toronto Dominion Bank, Bank
of Nova Scotia, Canadian Imperial Bank of Commerce and Bank of
Montreal. In Europe,
Deutsche Bank AG is down on news that it is suing Donald Trump for $40 million after he defaulted on a $640 million loan for his Trump International Hotel & Tower in Chicago. Meanwhile,
Standard Chartered plc is down after opening its first mainland rural bank in mainland China.
UBS is also down even with news that it has been hired to arrange the sale of real estate loans from the Lehman Brothers Holdings Inc. Japanese unit for an auction in December.
- Maria Woehr
Troubled International Banks
Prices at 12:30 pm EDT |
| Name |
Open |
Price at
12:30pm |
Change |
Mkt cap |
| UBS |
11.41 |
11.07 |
-1.67 |
31.41B |
| Barclays plc |
161.3 |
158.00 |
-11.40 |
13.22B |
| BNP Paribas SA |
42.875 |
40.02 |
-3.31 |
35.80B |
Deutsche Bank AG
|
32.72 |
31.31 |
-4.35 |
17.08B |
| Royal Bank of Scotland Group plc |
16.17 |
15.82 |
-1.76 |
31.20B |
| Royal Bank of Canada |
41.5 |
40.07 |
-3.11 |
53.74B |
| HSBC Holdings plc |
717.5 |
700.00 |
-15.00 |
84.76B |
Lloyds TSB Group plc
|
162.5 |
156.40 |
-11.60 |
9.46B |
| Standard Chartered plc |
860 |
726.00 |
-117.50 |
10.35B |
| Toronto-Dominion Bank |
43.45 |
43.30 |
-2.70 |
34.95B |
| Mitsubishi UFJ Financial Group Inc. |
5.11 |
5.12 |
-0.36 |
56.66B |
Source: The Deal |
