Deutsche Bank surges as Capital Group takes 3.1% stake

Deutsche Bank shares surged on Thursday after it said that US fund manager Capital Group has taken a 3.1% stake in the bank.

"We are happy for any shareholders, especially those with the track record and credibility of Capital," it said.

Capital Group is now one of Deutsche’s largest shareholders. The Qatari royal family is its biggest shareholder, with a 6.1% interest, followed by BlackRock with a 4.5% stake.

At 1140 GMT, the shares were up 8.8% at €9.00.