Shares of Deutsche Bank struggled for gains in New York trade Friday after a Dow Jones report, citing a source, that the German government has ruled out support for the bank if it were to issue new stock.
The Dow Jones report cited a person who attended a closed-door briefing last week with a small group of lawmakers, aides to German Chancellor Angela Merkel, and senior Finance Ministry officials. It was "inconceivable for the state to take a stake in Deutsche Bank" if it were to issue new stock, the source said.
The Germany government has publicly said that it would not rescue Deutsche Bank, the country's biggest bank. Deutsche Bank says that it hasn't asked for government help and it does not need a capital raise.