Today’s stock is Commerzbank, which jumped more than four percent, making it the highest gainer on the German DAX index on Monday.
What is the reason for this increase?
The rise came after the bank announced a deal worth 40 million euros with the European Investment Bank aimed at financing small and medium enterprises. Cooperation between Commerzbank and the European Investment Bank will facilitate access to financing, which has diminished in recent years due to the war in Ukraine.
Under the deal, companies with between 250 and three thousand employees in Germany or the European Union can benefit from these loans, which are guaranteed by the European Investment Bank at a rate of 50 percent.
(Reading: Lynn Madi)
2023-10-16 15:59:10
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