Shares of fintech giant, Wirecard crashed after the Financial Times report that a senior Wirecard executive was suspected of using forged and backdated contracts in a string of supsicious contracts. The potential supsicous transactions will reignite concerns that Wirecard’s accounting and governance are not up to par. In September, Wirecard replaced Commerzbank in the DAX 30 index. Germany’s DAX fell 0.5% following the news, bucking the positive trend seen in the STOXX 600, CAC and FTSE. The euro remains little changed on the session trading above the 1.14 handle.
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