Siemens and Deutsche bank are embroiled in the scandal

Both companies are in the center of the scandal due to the information leakage from the Panamanian law firm Mossack Fonseca. According to the data, at least 28 German banks, including Deutsche bank, have established with its help various offshore companies to help their clients to avoid paying taxes. Siemens has become suspected of bribery and money laundering. The information disclosure has significantly ruined the companies’ reputation.

The situation has influenced the Deutsche bank shares to fall by 5,07%, Siemens – by 2.47%. The values still continue to decrease, which gives traders an excellent opportunity to make good profit. Both assets will be available for trading during the European session, from 8:15 to 16:30 GMT time.

The news is only for informational purposes and cannot be construed as an offer or indication of the commission of certain transactions in the financial and commodity markets.