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Deutsche Bank supports European shares ahead of G20 meeting, U.S.-China talks

Published 28/06/2019, 08:35
Deutsche Bank supports European shares ahead of G20 meeting, U.S.-China talks
DE40
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DBKGn
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STOXX
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MERL
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 28 (Reuters) - Germany's top lender Deutsche Bank
propped up European stocks on Friday, but investors were
generally cautious ahead of a pivotal G20 meeting where progress
on U.S-China trade talks will be closely monitored.
U.S. President Donald Trump is set to hold a high-profile
meeting with Chinese President Xi Jinping on Saturday, and
markets are nervous over whether the outcome of that meeting
will produce progress in ending the year-long trade war amid
signs of rising risks to global growth. The pan-European STOXX 600 index .STOXX was flat by 0706
GMT, and Frankfurt's DAX .GDAXI rose 0.3%.
Deutsche Bank DBKGn.DE rose 3.5% after it passed an annual
health check by the U.S. Federal Reserve, clearing a second
hurdle at a critical time for the German lender in tests
administered by the central bank that measure banks' ability to
weather a major economic downturn
Madame Tussauds owner Merlin Entertainments MERL.L jumped
14.1% and was the biggest gainer on the main index, after the
company said it would be acquired by the investment vehicle of
Lego's founding family and private equity firm Blackstone Group
LP BX.N in a deal valuing the company and its debt at nearly 6
billion pounds ($7.6 billion).

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