Why Shares of Deutsche Bank Are Up Today
Shares of Deutsche Bank AG (NYSE: DB) traded up more than 13% on Thursday after U.S. money management firm Capital Group disclosed a 3.1% stake in the large German lender. Deutsche Bank has spent the last few years trying to rebound from a number of scandals and Europe's weak economy, and the investment is a major endorsement of the work the bank has done.
Capital Group, a Los Angeles-based money manager with more than $2 trillion dollars under management, unveiled a stake that would make it Deutsche Bank's third largest shareholder behind the Qatari royal family and BlackRock.
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Source Fool.com
