The Dax stands near 24,200 points, almost unchanged since the start of the year. Rising earnings estimates have lowered the benchmark's valuation. Investors wonder if this makes an entry point attractive now.

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Deutsche Bank reported a first-quarter net profit of 1.9 billion euros, up about eight percent from the previous year and beating analyst expectations. CEO Christian Sewing praised the results as a strong start to the new strategy phase. Shares dropped more than two percent anyway.

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