FRANKFURT (dpa-AFX) - Hopes of further cost-cutting measures drove Deutsche Bank shares to another two-year high of 13.69 euros on Tuesday. In the current year, they are up 10 percent and have also outperformed the European banking sector, which is up 7 percent. Commerzbank shares have also gained around 7 percent so far in 2024.

At an investor conference on Tuesday, Deutsche Bank CEO Christian Sewing not only underlined previous savings promises, but also held out the prospect of further cuts. In doing so, he struck a chord with investors. UBS expert Mate Nemes had recently emphasized constant progress in cost control as a decisive point in the investment story.

Deutsche Bank will present its final business figures for 2023 on Thursday. Investors had reacted positively to the key figures at the beginning of February, but then took further price gains in the meantime./ag/mis/tih