DAX Snaps 3-day Gain

UBS Group shares rose 2.5% after a report that it is considering options to avoid stricter Swiss capital rules, including potential deals with foreign banks. The bank may need to hold an additional $16 billion in CET1 capital. Morgan Stanley, Deutsche Bank, and Standard Chartered were mentioned as potential partners, with Morgan Stanley shares slipping 1%. UBS has not confirmed the discussions.

A7, a Kremlin-backed fintech company, moved $6.9bn through global banks like Standard Chartered, Citigroup, and others via a forgery scheme. The company used front entities and forged documents to bypass sanctions and facilitate payments, including for war-related goods. A7's operations involved multiple banks and countries, with significant flows routed through Hong Kong and the UAE.

Deutsche Bank (DBKGn) shares fell 4.3% premarket after its CFO warned of flat or slightly lower Q3 investment banking revenue vs. 2025. The bank maintained other targets, including 12% first-half return on tangible equity and a 13.5%-14% CET1 capital range. Wealth management revenue grew 8% in H1, with EUR 60B in net new assets. The decline occurred amid broader U.S. equity weakness.

Deutsche Bank will offer bitcoin and ether custody for institutional clients in Europe by year-end, according to Gerald Podobnik, co-head of corporate bank. Bitcoin traded at $75,547 on Wednesday. The bank expects its custody license in October and will hold assets like BTC, ETH, USDC, and EURC. Clients include corporates, asset managers, and hedge funds. Deutsche Bank warns of risks like volatility and cyber incidents, noting no deposit-guarantee scheme cover.

Stock futures rose Thursday, reversing Wednesday's selloff after the Fed's first rate hike in three years. Key events: Diamondback Energy's largest shareholder sold $2B in shares, ExxonMobil nears a deal in Venezuela, and Generac Holdings surged after a $2.4B Amazon deal. Lennar cut its home delivery target, citing housing market pressures. Brent crude fell below $105/barrel.

Deutsche Bank is awaiting regulatory approval to offer institutional crypto custody services for Bitcoin, Ether, and select stablecoins in Europe. The bank expects to launch this year, subject to EU's MiCA framework, with plans to expand to tokenized assets later. Deutsche Bank is a Global Systemically Important Bank and has been developing crypto services, including potential stablecoin issuance. Other German banks, like Landesbank Baden-Württemberg and DZ Bank, have also entered the crypto cus