Report: Deutsche lost $400M in equity derivatives

Deutsche Bank AG lost more than $400 million on equity derivatives as the stock markets fell in the wake of the financial crisis, two people familiar with the matter told Bloomberg. The loss is equal to almost half of the Frankfurt, Germany-based bank’s second-quarter revenue from equity sales and trading and may signal more job losses at the bank, according to the report. Deutsche Bank will record its second quarterly loss of the year on write-downs and slowing revenue from investment banking, according to a survey of six analysts. The bank said equity sakes and trading revenue fell 49% in the first half of the year as customers stayed away from structured products. Deutsche Bank shares fell 4.57 euros ($5.73) per share, or 15%, to close at 25.69 euros ($32.24) in Frankfurt trading. A call to Deutsche Bank was not immediately returned.