FRANKFURT (dpa-AFX) - A cautious outlook for the upcoming reporting season from investment house Kepler Cheuvreux weighed on Deutsche Bank shares on Thursday. They brought up the rear in the Dax, falling by 3.4 percent to 12.31 euros. However, they had also performed well recently and had risen by up to 36 percent from the October low to the beginning of January.

The Kepler-Cheuvreux analysts wrote in a study on Deutsche Bank that they expected costs to develop worse than expected and were not sure about a recovery in earnings in 2024.

The experts were also cautious about the French bank Societe Generale. Its shares fell by almost four percent./mis/jha/