Deutsche Bank shares rebounded on March 27 after plummeting by as much as 16 percent on Friday, suggesting investors may be feeling slightly more optimistic about the current state of the European banking industry.
Shares of Germany’s largest bank were up 6.3 percent as of 15:04 p.m. in Frankfurt, while other European banking stocks, including Commerzbank AG, Barclays Plc, and Banco Santander SA also saw gains.
The Euro STOXX banks index was also up 1.6 percent, and the pan European STOXX 600 was up 1.2 percent as of Monday afternoon.
After tumbling by as much as 16 percent on Friday, Deutsche Bank shares closed 8.5 percent lower when the cost of its five-year credit default swaps (CDS), a type of default insurance for bondholders to protect against potential defaults, rose above 220 basis points, up from 142 basis points earlier in the week….