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  4. Deutsche Bank set for $1 billion windfall from shipping co bets - Bloomberg
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Deutsche Bank set for $1 billion windfall from shipping co bets - Bloomberg

(Reuters) - Deutsche Bank (DE:DBKGn) is on course to make up to $1 billion on a long-shot bet on Israeli shipping firm Zim after it surged in value on the back of record-high...
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Deutsche Bank set for $1 billion windfall from shipping co bets - Bloomberg © Reuters. The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. REUTERS/Tyrone Siu/Files

(Reuters) - Deutsche Bank (DE:DBKGn) is on course to make up to $1 billion on a long-shot bet on Israeli shipping firm Zim after it surged in value on the back of record-high global freight rates, Bloomberg reported on Tuesday. https://

Citing unnamed sources familiar with the matter, the report said that Mark Spehn, a distressed debt trader at the German bank, had wagered less than $100 million over the past five years on building a position in the company through bond and bank loans as shipping rates fell. https://

Zim recovered to float on the stock market on Jan. 28 this year and has almost tripled in value since, yielding hefty gains for its backers and making it among the most successful of recent initial public offerings.

According to Refinitiv data, Deutsche Bank is the company's second largest shareholder with a 13.68% stake, worth $923 million.

Zim said on June 4 that Deutsche Bank had been among those to sell shares in the company in a secondary offering worth $279 million.

If true, the numbers would make the Zim trade one of the most profitable for the bank since its asset-backed securities division made bets against the U.S. subprime sector in the run up to the 2008 financial crash, raking in almost $2 billion.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

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USD/CAD

1.3780

+0.0003 (+0.03%)

Summary

↑ Buy

Moving Avg:

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EUR/JPY

168.32

+0.10 (+0.06%)

Summary

↑ Buy

Moving Avg:

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Neutral

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Sell (2)

Gold Futures

2,295.80

-7.10 (-0.31%)

Summary

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Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

-0.0105 (-0.23%)

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Crude Oil WTI Futures

81.14

-0.79 (-0.96%)

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Brent Oil Futures

85.62

-0.71 (-0.82%)

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Natural Gas Futures

1.946

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US Coffee C Futures

213.73

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Euro Stoxx 50

4,920.55

-60.54 (-1.22%)

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S&P 500

5,035.69

-80.48 (-1.57%)

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DAX

17,921.95

-196.37 (-1.08%)

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FTSE 100

8,144.13

-2.90 (-0.04%)

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Sell

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Hang Seng

17,763.03

+16.12 (+0.09%)

Summary

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Sell (6)

US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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IBEX 35

10,854.40

-246.40 (-2.22%)

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Neutral

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BASF SE NA O.N.

49.155

+0.100 (+0.20%)

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Bayer AG NA

27.35

-0.24 (-0.87%)

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Allianz SE VNA O.N.

266.60

+0.30 (+0.11%)

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Adidas AG

226.40

-5.90 (-2.54%)

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Deutsche Lufthansa AG

6.714

-0.028 (-0.42%)

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Siemens AG Class N

175.90

-1.74 (-0.98%)

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Deutsche Bank AG

15.010

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Summary

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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RON 95-V25.44025.940
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Dầu hỏa 2-K20.68021.090
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USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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