European bourses slides ahead of tonight's first televised US Presidential debate

Pound nears five-week low on Brexit worries

FTSE 100 surrenders 1.3pc; more than £23.5bn wiped off index

Oil prices rebound as Algeria says all options are open at Opec meeting

China stocks slide to seven-week low on thin trading

Deutsche Bank shares slump to lowest level in a quarter of century as Merkel rules out state aid

Deutsche Bank denies asking Merkel for help, as shares touch record low

Deutsche Bank has said today that it can solve its problems on its own, following reports over the weekend that Germany's Chancellor Angela Merkel has ruled out any state assistance for the lender.

Shares plunged to a record low after a report by German magazine Focus suggested that Chancellor Merkel met Deutsche's chief executive John Cryan over the summer and had indicated he could expect no help from Berlin in resolving the bank's dispute with the US Department of Justice.

However, the German lender denied such reports, with the bank's spokesman, saying:

"John Cryan at no point asked the German Chancellor for the government to intervene in the U.S. Justice Department's mortgages case." It also said it would meet its challenges on its own.

Earlier this month, it confirmed the US Department of Justice has demanded $14bn to settle claims it mis-sold mortgage-backed securities, sparking concerns the bank may need to raise capital. "There is currently no question of a capital increase. We are meeting all regulatory requirements," the spokesman added. Shares hit a record low of €10.62.

More than £23bn wiped off FTSE 100

London's blue chip index endured a torrid trading session as banking stocks faltered after Deutsche Bank’s shares touched a record low amid reports German Chancellor Angel Merkel had ruled out state aid for the lender. The FTSE 100 surrendered £23.5bn in value, shedding 91.39 points, or 1.32pc, to close at 6,818.04- its sharpest slide since June 27.

Among the hardest hit British banks, Lloyds dropped 1.7p to 54.3p, Royal Bank of Scotland slipped 5.1p to 177.5p, Barclays tumbled 3.3p to 168.1p and HSBC lost 5.1p to 569.2p.

Pound flounders at six-week low against euro

Persistent Brexit worries about the impact of Britain's impending exit from the EU caused the pound to slide to a six-week low against the euro today. The pound fell by as much as half a percent to 87.16p against the euro - its lowest level since August 16.

Last Thursday, the pound fell after British Foreign Secretary Boris Johnson said he expected formal Britain-EU divorce proceedings to begin early next year.