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Deutsche Bank shares hit 5-week high

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Deutsche Bank stock rebounds on potential of new investment

Shares of Deutsche Bank jumped in New York trade Thursday, briefly recovering levels from before the news of the U.S. Department of Justice's demand for a $14 billion settlement.

The gains followed a report from Germany's Manager Magazin, citing banking sources, that sovereign wealth funds from Qatar and Abu Dhabi and an unnamed investor from China could buy a 25 percent stake in the lender, according to Reuters. Both funds declined to comment to the newswire on the report, as did Deutsche Bank.

Shares of Germany's largest bank closed 3.68 percent higher Thursday at $14.37, after touching $14.60 intraday, their highest since September 15.

After the U.S. market close that day, news surfaced that the Department of Justice was demanding $14 billion to settle the bank's mortgage lending activities during the housing bubble, before the recession. Shares subsequently fell to record lows in New York trade at the end of September but have gradually recovered amid hopes of a lower settlement figure.

The bank and analysts generally expect the final settlement figure to be far lower.