Morning Commentary: Deutsche Bank preferreds flat amid merger talk; Charles Schwab lower

By James McCandless

San Antonio, June 8 – Deutsche Bank AG’s 8.05% trust preferred securities led a low-volume start to preferred secondary trading with about 129,000 shares trading.

Reports surfaced Friday morning appearing to confirm earlier rumors that the company is considering a merger with Frankfurt-based financial services firm Commerzbank AG.

Recently, the company signaled its intention to lay off 7,000 employees worldwide.

The preferreds (NYSE: DKT) were level at $25.91.

Charles Schwab Corp.’s series D non-cumulative perpetual preferred stock saw increased attention with about 128,000 shares exchanged.

The preferreds (NYSE: SCHWPrD) were down 2 cents to $26.28.

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.04% in early trading, adding to the 0.02% gain at the market close on Thursday.

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