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DAXX:CBK, Jun 25, 06:39 UTC

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Exclusive: Italy's UniCredit puts possible Commerzbank bid on ice for now - sources

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UniCredit had stepped up preparations for a potential takeover of Commerzbank by engaging Lazard and its banker Joerg Asmussen, a former German deputy finance minister, along with JP Morgan, people familiar with the matter said in May. That raised the prospect of a deal that would allow Italy's largest bank by assets to shift its focus away from its struggling domestic market, a key plank of Chief Executive Jean-Pierre Mustier's strategy. But the advisers have had little luck discussing a possible bid with Commerzbank, which is represented by Goldman Sachs and Rothschild, and have been left on stand-by, the sources said. "Commerzbank told UniCredit they need time to think about the best course of action," said one of the sources, who has direct knowledge of the matter. The Milan-based lender, which has a market capitalisation of around 24 billion euros ($27.3 billion) compared to Commerzbank's 8 billion euros, already owns HVB, a large German lender based in Munich. But the Italian bank, which has been concentrating on its own turnaround plan, had been awaiting the outcome of merger talks between Commerzbank and its larger Frankfurt neighbour, Deutsche Bank, which unravelled in April.

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Friday, June 21


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Equities Analysts Offer Predictions for Commerzbank AG’s FY2019 Earnings (OTCMKTS:CRZBY) – Mayfield Recorder

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Commerzbank AG (OTCMKTS:CRZBY) – Equities research analysts at Jefferies Financial Group upped their FY2019 earnings estimates for shares of Commerzbank in a note issued to investors on Thursday, June 20th. Jefferies Financial Group analyst M. Timat now expects that the financial services provider will earn $0.85 per share for the year, up from their previous forecast of $0.83. Shares of Commerzbank stock opened at $6.94 on Friday. Parametric Portfolio Associates LLC now owns 2,159,138 shares of the financial services provider’s stock valued at $16,863,000 after buying an additional 704,510 shares during the period.

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Wednesday, June 19


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Commerzbank (ETR:CBK) Stock Price Crosses Above Fifty Day Moving Average of $7.01 – Rockland Register

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The stock has a 50-day moving average of $7.01 and traded as high as $6.23. Commerzbank shares last traded at $6.21, with a volume of 7,451,061 shares trading hands. HSBC set a €10.00 ($11.63) price target on Commerzbank and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Nord/LB set a €8.50 ($9.88) price target on Commerzbank and gave the stock a “neutral” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock.

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Commerzbank brings forward ECB rate-cut expectation to July

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LONDON (Reuters) - Commerzbank (DE:CBKG) said on Wednesday that it has now bought forward its expectations for an interest rate cut from the European Central Bank to July from the fourth quarter of this year. The change in forecast follows comments by ECB chief Mario Draghi on Tuesday that the central bank will ease policy again if inflation fails to accelerate. "Yesterday's speech in Sintra may well be remembered as opening the door for the next round of large-scale stimulus, similar to his Jackson Hole speech in 2014," analysts at Commerzbank said in a note. "In essence, the ECB could no longer tolerate the adverse mix of collapsing inflation break-evens and rising real yields since the meeting two weeks ago."

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Monday, June 17


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AUD/USD: Under pressure following failure at its 55 day ma - Commerzbank

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AUD/USD: Under pressure following failure at its 55 day ma - Commerzbank By Haresh Menghani | June 17, 2019 09:16 GMT. According to Karen Jones - Head of FICC Technical Analysis at Commerzbank, the AUD/USD pair remains under pressure following the failure at its 55-day ma. Initial upside target is the 55-day ma at .7008, .7022 the June peak and the April peak at .7069.”. “IA fall and daily chart close below the .6857 78.6% Fibonacci retracement would signal a further bearish phase and target the .6738 December 2019 low.”.

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Friday, June 14


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EUR/USD: Near term further consolidation looks likely - Commerzbank

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EUR/USD: Near term further consolidation looks likely - Commerzbank By Sandeep Kanihama | June 14, 2019 06:52 GMT. According to Karen Jones, analyst at Commerzbank, near term further consolidation looks likely for the EUR/USD pair after it has remained capped this week by the 200 week ma at 1.1347 and the 200 day ma at 1.1360. “Dips lower are indicated to hold circa at 1.1255/30 and will ideally be contained by 1.1175. To really ignite upside interest, we suspect a close above 1.1360 is needed to target initially the 1.1570 2019 high.

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Thursday, June 13


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EUR/USD is consolidating - Commerzbank

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EUR/USD is consolidating - Commerzbank By Sandeep Kanihama | June 13, 2019 05:45 GMT. In view of Karen Jones, analyst at Commerzbank, EUR/USD pair has been consolidating following its break of the 2018- 2019 downtrend and is holding below the 200 week ma at 1.1347 and the 200 day ma at 1.1362. To really ignite upside interest, we suspect a close above here is needed to target initially the 1.1570 2019 high. “Support at 1.1110/06 is regarded as the break down point to the 2018-2019 support line at 1.1027 and the 1.0814 78.6% Fibonacci retracement.”.

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Allianz (FRA:ALV) Given a €220.00 Price Target by UBS Group Analysts – Tech Know Bits

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Allianz (FRA:ALV) has been given a €220.00 ($255.81) price objective by UBS Group in a research note issued to investors on Monday, June 3rd, Borsen Zeitung reports. UBS Group’s target price indicates a potential upside of 6.82% from the company’s current price. Finally, Kepler Capital Markets set a €240.00 ($279.07) price objective on Allianz and gave the stock a “buy” rating in a research note on Tuesday, May 14th. The company has an average rating of “Buy” and a consensus target price of €218.59 ($254.18).

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Wednesday, June 12


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AUD/USD: Near-term correction higher is over - Commerzbank

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AUD/USD: Near-term correction higher is over - Commerzbank By Sandeep Kanihama | June 12, 2019 08:20 GMT. Karen Jones, analyst at Commerzbank, points out that the AUD/USD has recently rallied to and failed just ahead of the 55 day ma at .7020 and the April peak at .7069 and they suspect that the near term correction higher is over. It should now head lower to initial support at .6941, the 27th May high and .6898, the 30th May low ahead of the .6865 recent lows. A fall and daily chart close below the .6857 78.6% Fibonacci retracement would signal a further bearish phase and target the .6738 December 2019 low.”.

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Tuesday, June 11


News

Delivery Hero (ETR:DHER) Given a €48.00 Price Target at UBS Group – Sundance Herald

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JPMorgan Chase & Co. set a €38.00 ($44.19) target price on shares of Delivery Hero and gave the stock a neutral rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Delivery Hero presently has a consensus rating of Buy and a consensus price target of €47.01 ($54.66). Delivery Hero has a 12-month low of €27.48 ($31.95) and a 12-month high of €52.35 ($60.87).

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