“The strength and momentum of global economic recovery is still unclear, world energy prices remain stubbornly high, while in certain peripheral Eurozone states, sovereign debt levels remain elevated, and unemployment, particularly among young people, is an acute problem,” Ackermann said.
“These challenges, together with geopolitical uncertainties, could all impact global economic recovery as 2012 progresses. Against this backdrop, financial markets remain cautious – as we have seen in April, with investor risk appetite markedly lower. This inevitably impacts business conditions for our industry,” the CEO added.
U.S.-listed shares of Deutsche Bank were down 4% on Thursday.
iShares MSCI Europe Financial Sector Index Fund
