Share Performance

A tough year for the share price

Annual General Meeting: participation increased

Annual General Meeting: participation increased (bar chart)

Stock markets started 2014 optimistically thanks to the expected global economic recovery and continued low interest rate policies of the large central banks. Deutsche Bank’s share reached its peak for the year 2014 in mid-January at € 38.15, adjusted for the capital increase described below. During the first half of the year, market sentiment continued to improve and most major global stock indices gained, with the DAX index rising 2.9 %. In contrast to the broader market enthusiasm, the STOXX Europe 600 Banks index closed the first half of the year down 1 %. The Deutsche Bank share significantly underperformed the STOXX Europe 600 Banks, declining by 22.3 % during this period. This reflected industry-wide and Deutsche Bank-specific concerns about regulation and litigation, as well as weaker than expected operating performance.

The second half of 2014 saw increased volatility and a correction of the DAX as growing geopolitical tensions in connection with the Ukraine crisis, weak economic data and the dramatic drop in oil prices more than offset the increased investor appetite for stocks due to the low interest rate environment. At its lowest point in mid-October, the DAX had declined by 9 % in 2014, but rebounded strongly to end the year up 2.7 % versus 2013. The fundamentally weak market environment and ongoing uncertainty continued to impact the Deutsche Bank share in the second half of the year. In mid-October, it reached its low for the year at € 22.66 or 31.5 % below the end of 2013. The share rebounded slightly to close the year at € 24.99, down 24.5 % compared to 2013. This is a fully unsatisfactory performance for us.

 

Long-term total return index
Long-term total return index (line chart)