Dow Jones Newswires First to Report on Government Aid Conditions for Commerzbank

- 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.

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