Photo: DPAShares in Germany's biggest lender Deutsche Bank gained in morning trading Thursday, after Bloomberg News reported it would move investment banking activities from London to its Frankfurt headquarters in response to Brexit. The bank's stock added 1.04 percent to trade at €16.53 ($18.78) by 1010 GMT, against a DAX index of leading German shares down 0.73 percent. Deutsche plans to move "large parts of the trading and investment-banking assets it currently books in London" to Frankfurt over the coming 18 months, Bloomberg reported, citing anonymous sources. Deutsche board member Sylvie Matherat said in April that thousands of bank jobs could be moved to EU territory after Brexit. Several other banks, especially Asian institutions, have recently announced that they would move European headquarters from London to Frankfurt.

Source: The Local July 06, 2017 11:37 UTC