Deutsche Bank shares plunged more than 7% to a record low

Deutsche Bank shares slid more than 7% on Monday, touching a record low below €11 a share.

Germany's biggest lender faces billions in legal costs and settlements with US authorities over an investigation into sales of mortgage-backed securities, which would leave the bank seriously undercapitalised.

Deutsche Bank has lost more than 53% of its equity market value so far this year.

Here is how Deutsche Bank ended the day:

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The lender dragged down Germany's wider stock market – the DAX Index.

Here is the chart:

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Meanwhile Brexit continues to weigh on UK stocks, with concerns that Prime Minister Theresa May's government is preparing for a so-called hard Brexit that would see the UK lose membership of the European Union's single market and customs union.

Mario Draghi, president of the European Central Bank, said that the UK can't cherry pick membership of the European single market, according to the Financial Times.

“Regardless of the type of relationship that emerges between the European Union and the United Kingdom, it is of utmost importance that the integrity of the single market is respected”, Draghi told the European Parliament. “Any outcome should ensure that all participants are subject to the same rules."

Around three-quarters of chief executive officers said they would consider moving operations from the UK to Europe in the wake of Brexit, according to a survey of 100 CEOs from accountancy firm KPMG,

Here how the FTSE 100 ended the day: 

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That is also weighed on the pound, which briefly dropped against the dollar and then recovered.

Here is Sterling:

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See Also:

• Deutsche Bank is a perfect example of an essential part of markets that's disappearing before our eyes

• Hedge funds are dumping Deutsche Bank and shares are tanking

• 10 things you need to know before European markets open

SEE ALSO: DEUTSCHE BANK COMPLIANCE CHIEF: 'I need at least another year or so' to solve our problems