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Article: Dow Jones Newswires First to Report on Government Aid Conditions for Commerzbank.
- Article from:
- PR Newswire
- Article date:
- May 12, 2009
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- Dow Jones's Release of the Market Moving News Caused Commerzbank's Shares to Surge Higher -
NEW YORK, May 12 /PRNewswire/ -- On May 7, 2009, Dow Jones Newswires was ahead of the competition in reporting the outcome of negotiations between the E.U. Commission and the German government on state-aid to Commerzbank, Germany's second-largest bank. While there were numerous reports of a possible compromise a few days prior, Dow Jones was first in reporting the actual details, causing Commerzbank's stock to rise 22%.
The news caused Commerzbank's stock to rise mainly because traders were relieved that the government aid was finally confirmed, and also ...