-- Deutsche Bank AG relied on its traders and investment bankers to make up for a slowdown in income from lending, as Chief Executive Officer Christian Sewing seeks to deliver on an ambitious revenue goal.Tech Giants Hit in Late Hours After Meta’s Outlook: Markets WrapFixed income trading rose 7% in the first quarter, more than analysts had expected and better than most of the biggest US investment banks. Income from advising on deals and stock and bond sales jumped 54%.
Shares of the German lender have gained 25% this year as expectations faded that central banks would soon start to cut interest rates. Before the recent gains, the stock had largely treaded water since Sewing took the helm in 2018, exited unprofitable businesses and put an end to a slew of legal issues.
The company recently attempted to fend off short sellers by advising investors on ways to prevent their shares from being loaned for short-interest positions. -- The swaps market is flashing warnings there could be a dash for dollar liquidity on a scale last seen at the start of the pandemic, according to Mizuho International Plc.
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