15.10.2021 – 14:57 | Source: Finanztreff | Reading time approx. 2 min.
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With a plus of 3.1 percent, Deutsche Bank shares are now clearly at the top of the DAX. The numbers of the US competitors, who were able to shine with strong profit growth, provided a lot of momentum.
After the largest US bank JPMorgan, Bank of America, Morgan Stanley and Wells Fargo also reported strong leaps in profits on Thursday. The reason: a recovering economy allows banks to release their loan loss provisions. Because investment banking revenues were also bubbling faster, Bank of America’s surplus, for example, jumped 58 percent to $ 7.7 billion.
Although Deutsche Bank is no longer as strongly represented in investment banking and asset management as a result of the restructuring and after the DWS IPO, the good numbers of its US competitors are a positive driver for the Deutsche Bank share.
Deutsche Bank would also benefit greatly from rising interest rates. If the interest rate rises by one percent, the net interest income would increase by 800 million euros after one year. Bond yields on the market are already rising, even if the ECB is still sending contrary signals.
That’s what Deutsche Bank shares do
On Friday put the share of Deutsche Bank +2,82% most recently around 3.1 percent to 11.41 euros. The 100- and 200-day lines support the recent upward movement and the horizontal resistance at 11.30 euros has been overcome. If the recovery trend continues, the next hurdle will be the June high of 12.56 euros.
With material from dpaAFX.