Commerzbank

The Commerzbank share slid about 3.7 percent as the DAX laggard to its lowest level since early September and fell well below the 21-day line. Benjamin Goy from Deutsche Bank’s research team withdrew the buy recommendation, citing largely priced-in price drivers and increased uncertainty about future strategy in light of the takeover by UniCredit. Goy sees better opportunities in the sector than at Commerzbank and names ING as one of his top picks. » More on finanzen.net

Deutsche Bank Research cut its rating for Commerzbank from "Buy" to "Hold" but left the €42 price target unchanged. The downgrade was justified by saying many positive share-price drivers—such as rising interest income and distributions—are already priced in or have been realized, and that the valuation, despite higher earnings expectations, is above the sector average. Commerzbank shares fell in trading to as low as €40.76 (−2.93%). » More on finanzen.net

After two years of resisting to preserve Commerzbank’s independence, works council chief Sascha Uebel is taking a conciliatory stance toward Unicredit and is calling for prompt talks between the managements to create “calm.” He urges forming a “European champion” together but at the same time warns against open conflicts. Uebel’s statement follows renewed takeover moves and personnel demands from Unicredit’s board. » More on sueddeutsche.de