European shares rise as Deutsche Bank recovers

miércoles 28 de septiembre de 2016 12:26 GYT
 

* Pan-European STOXX 600 index up 0.7 percent

* Deutsche CEO says no cash call needed, govt denies rescue plan

* Commodities choppy but end higher

* Sainsbury drops after disappointing update (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) Adds details, updates prices)

By Danilo Masoni and Alistair Smout

LONDON, Sept 28 (Reuters) - European shares rose on Wednesday, helped by gains among commodity stocks, while Deutsche Bank recovered from all-time lows hit in the previous session.

Sentiment around the bank perked up after its CEO said there was no need for a cash call, while the German government denied a report that it was preparing a rescue plan for the bank.

The lender rose 2 percent after CEO John Cryan personally ruled out a possible capital increase, while the bank's balance sheet was boosted after it sold its British insurance business.

Deutsche faces a $14 billion fine from the U.S. Department of Justice for misselling mortgage-backed securities, and concerns over its funding depressed its shares to a record low on Tuesday.   Continuación...