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Europe: Shares edge higher as Deutsche Bank recovers
[LONDON] European shares rose slightly on Wednesday, lifted by gains among commodity stocks, while Deutsche Bank rose from all-time lows hit in the previous session after its CEO said there was no need of a cash call.
By 0711 GMT, Europe's STOXX 600 index rose 0.7 per cent, with the basic resources index index leading sectoral gainers on the back of higher metal prices, while rising crude prices helped energy stocks.
Deutsche Bank rose 3.2 per cent after CEO John Cryan personally ruled out a possible capital increase while dismissing a report that the German lender had sought government help to settle a US$14 billion US demand.
Among other big movers, TUI rose three per cent after the travel firm nudged up its full-year profit outlook, while Kone fell two per cent after the Finnish elevator maker kept its targets unchanged.