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Deutsche Bank Announces Surprise Profit; Shares Rise

Deutsche Bank (DB - Get Report) has posted a profit in the first quarter beating analysts' expectations. Investors took kindly to the news, pushing the stock up 3.5% in morning trading in Frankfurt. That's a welcome change as shares have dropped 26% in the last year.

Europe's banks have been hit hard by rising regulatory costs and volatile markets. Euro Stoxx's European banking sector index, SX7E, was down 1.63% today.

Deutsche's profit of €236 million ($268 million) surprised...


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