Rosy report on business boosts Deutsche Bank
Deutsche Bank AG gained the most in two months in Frankfurt trading after a newsletter said Germany’s biggest lender had a “sensational” start to the year and as the US prepared a plan to absorb toxic assets.
By Bloomberg |
FRANKFURT: Deutsche Bank AG gained the most in two months in Frankfurt trading after a newsletter said Germany���s biggest lender had a ���sensational��� start to the year and as the US prepared a plan to absorb toxic assets.
Deutsche Bank rose as much as 15% to 20.90 euros, the biggest advance since November 24, and traded at 20.85 euros as of 12:07 pm. The Bloomberg Europe Banks and Financial Services Index, which tracks 64 financial companies, rose 6.1%.
Deutsche Bank���s operating business had a ���sensational��� first three weeks of 2009, Der Platow Brief reported, without saying where it got the information. There is speculation the German bank may earn almost 1 billion euros ($1.3 billion) in pretax profit in January, the newsletter said.
���That���s certainly a very positive figure, if it���s correct��� and it���s playing a ���special role��� for the stock, said Konrad Becker, an analyst at Merck Finck & Co in Munich with a ���hold��� recommendation. ���It���s a mix of expectations and sentiment. Bank stocks across Europe are doing very well.���
Deutsche Bank spokesman Ronald Weichert declined to comment on the report.
Chief Executive Officer Josef Ackermann said on January 14 that trading for clients has seen higher volumes and ���record��� revenues in the first two weeks of the year.
Deutsche Bank rose as much as 15% to 20.90 euros, the biggest advance since November 24, and traded at 20.85 euros as of 12:07 pm. The Bloomberg Europe Banks and Financial Services Index, which tracks 64 financial companies, rose 6.1%.
Deutsche Bank���s operating business had a ���sensational��� first three weeks of 2009, Der Platow Brief reported, without saying where it got the information. There is speculation the German bank may earn almost 1 billion euros ($1.3 billion) in pretax profit in January, the newsletter said.
���That���s certainly a very positive figure, if it���s correct��� and it���s playing a ���special role��� for the stock, said Konrad Becker, an analyst at Merck Finck & Co in Munich with a ���hold��� recommendation. ���It���s a mix of expectations and sentiment. Bank stocks across Europe are doing very well.���
Deutsche Bank spokesman Ronald Weichert declined to comment on the report.
Chief Executive Officer Josef Ackermann said on January 14 that trading for clients has seen higher volumes and ���record��� revenues in the first two weeks of the year.
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