FRANKFURT (dpa-AFX) - A report about job cuts at Commerzbank caused the share price to rise at the start of the week. On Monday in early Xetra trading, the papers were up 1.8 percent at 17.88 euros at the top of the Dax. At the same time, they reached their highest level since 2011. Last week, the price broke through the 17-euro mark, whereupon the price rally that began at the end of November continued.

According to a report in the Financial Times, Commerzbank is considering cutting thousands of jobs to prevent a possible takeover by the major Italian bank Unicredit. The talk is of a probable reduction of jobs in the low thousands. Commerzbank wants to provide investors and the public with comprehensive information on the latest strategy update at a Capital Markets Day on February 13th./bek/jha/