Dow Jones Newswires First to Report on Government Aid Conditions for Commerzbank
13 May 2009 - 12:53AM
PR Newswire (US)
- 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 because market
observers believed the conditions placed upon the state-aid were
favorable for the German bank. Dow Jones released the news at
8:08am GMT, giving its readers a head start of more than one hour
to act on this news and lock in on early buys into Commerzbank. It
was later reported by rival news organizations Thomson Reuters and
Bloomberg at 9:30am GMT, who both had to wait for the official
announcement. More than 435,000 financial professionals in 66
countries turn to Dow Jones for breaking news, commentary and
analysis, including market moving corporate, economic, market,
financial and political news. Reporting from nearly 90 bureaus
across the globe, Dow Jones publishes up to 12,000 news items each
day, in 11 languages, covering all asset classes. Dow Jones'
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opportunities and enhance trust in their services. For more
information about Dow Jones Newswires, visit
http://www.dowjonesnewswires.com/ or to learn more about the Dow
Jones Enterprise Media Group, visit
http://www.solutions.dowjones.com/. ABOUT DOW JONES Dow Jones &
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