HypoVereinsbank protection costs widen after poor Q3 results

HypoVereinsbank shares tumbled €2.52, or more than 15%, to €14.10 following the earnings release on Wednesday. Today its share price sank as low as €12.85.

Credit derivatives traders in London today said the cost of debt protection for the rest of the German banking sector was being drawn wider as sellers of protection pulled back offers.

Five-year senior protection for Commerzbank traded today at 155/195bp, up 10bp from yesterday. Protection for Dresdner Bank was 5bp wider at 75/85bp; whi

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