RDI Initiates Coverage on:
Deutsche Bank AG
https://ub.rdinvesting.com/news/?ticker=DB
Credit Suisse Group AG
https://ub.rdinvesting.com/news/?ticker=CS
Deutsche Bank AG was one of the many European bank stocks to rally on Monday after Sunday's first round of the French presidential election. Shares of U.S. listed Deutsche Bank closed up 11.33%. Emmanuel Macron and Marine Le Pen have now entered a presidential runoff after winning 23.8% and 21.6% of the weekend vote in France. The bank also announced that it has hired Philip Pucciarelli and Robert Verdier, two senior Healthcare Investment Bankers, from BMO Capital Markets. "Healthcare is a clear area of focus and investment for the bank," said Mark Fedorcik, Head of Corporate Finance Americas and Co-Head of CIB Americas. Deutsche Bank is Germany's leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
Access RDI's Deutsche Bank Research Report at:
https://ub.rdinvesting.com/news/?ticker=DB
Credit Suisse Group AG shares closed up 4.29% on Monday as it followed the trend of Bank stocks rallying over France's pre-election results from Sunday. The gain was more than welcome considering the Swiss Bank offered to cut bonuses for top management by 40 percent and freeze pay for its board of directors earlier this month. The bank will have a general shareholder meeting this Friday and investors are not entirely optimistic that a 40% bonus cut for the bank's senior executives will squash any possibility of confrontation. Credit Suisse Chairman Urs Rohner told the Financial Times that the anti-bonus reaction "was more than I expected, and particularly among UK and professional or institutional investors and proxy advisers."
Access RDI's Credit Suisse Group Research Report
at:
https://ub.rdinvesting.com/news/?ticker=CS
Our Actionable Research on Deutsche Bank AG (NYSE: DB) and Credit Suisse Group AG (NYSE: CS) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com