Deutsche Bank AG shares jump on settlement report

Deutsche Bank AG jumped the most in almost six months after a media report that the lender is nearing a $5.4bn (€4.81bn) settlement with the US Department of Justice (DOJ), less than half the amount initially requested.

The shares closed at €11.57, up 6.4%, the biggest gain since April. Agence France-Presse reported that the lender is nearing a settlement with the DOJ in a probe tied to residential mortgage-backed securities, citing an unidentified person familiar.

Spokesmen for the Frankfurt-based lender and the DOJ declined to comment when contacted by Bloomberg News.