Deutsche Bank Jumps on Report of $5.4 Billion DOJ Settlement
- Bank’s shares dropped to record low in earlier trading
- DOJ earlier this month requested $14 billion in settlement
Deutsche Bank Rebounds on DOJ Settlement Report
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Deutsche Bank AG jumped the most in almost six months after a media report that the lender is nearing a $5.4 billion settlement with the U.S. Department of Justice, less than half the amount initially requested.
The shares closed at 11.57 euros, up 6.4 percent, the biggest gain since April. Agence France-Presse reported that the lender is nearing a settlement with the DOJ in a probe tied to residential mortgage-backed securities, citing an unidentified person familiar. Spokesmen for the Frankfurt-based lender and the DOJ declined to comment when contacted by Bloomberg News.