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The DAX index opened down on Thursday, after German lender Deutsche Bank announced expected losses of €6.2 billion ($6.97 billion) for the third quarter of 2015, in Frankfurt on Wednesday. The Frankfurt bourse opened at 9,942,78, a 0.28 fall from 9,970,40 a day earlier. Deutsche Bank began trading at almost -3.3 percent on Thursday before stabilising at roughly -1.5 percent. The bank's bottom line is expected to take a hit from litigation provisions and impairment charges for the lender's investment bank and Postbank unit, which has fallen in value since being put up for sale. Deutsche Bank also faces large writedowns and impairment charges related to its stake in China's Hua Xia Bank. Also behind the fall on the DAX was a sharp drop in German exports which dipped 5.2 percent month-on-month to €97.7 billion ($110 billion) - the largest fall since the 2008/09 financial crisis.

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