Commerzbank’s Valuation Tops €30 Billion Amid UniCredit Interest
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Commerzbank AG’s market capitalization surpassed €30 billion ($33 billion) for the first time after the German lender’s stock extended a years-long rally, fueled by earnings strength and takeover interest.
The shares rose as much as 3.4% on Monday, hitting their highest level in 14 years, following last week’s report of an unexpected increase in profit. The broader banking sector was also lifted by news that the US and China would temporarily lower tariffs on each other’s products.