Shares of Deutsche Bank were back in the red on Monday morning, after the embattled lender failed to announce a much-anticipated reduced settlement with U.S. authorities.
Investors had been hoping that Deutsche Bank and the U.S. Justice Department (DOJ) would settle a number of investigations related to mortgage securities over the weekend.
However, the lack of such announcement sent shares in the bank sliding nearly 3 percent by 9.00 a.m. London time on Monday morning, dipping down to around 11.75 euros per share. The stock weighed on the German DAX which was trading in negative territory and the wider banking sector in Europe was down 1.14 percent.
German newspaper Bild am Sonntag reported that bank CEO John Cryan had failed to come to an agreement with senior representatives of the U.S. Department of Justice in a meeting late Friday. Sources confirmed the lack of a deal to CNBC but the bank declined to comment when contacted.