Update: JPMorgan Gains 7% On Friday - JPMorgan Chase (NYSE:JPM), Deutsche Bank (NYSE:DB)

Shares of

JPMorgan Chase & Co.JPM

were trading higher by more than 7 percent on Friday JPMorgan's stock opened for trading at $55.65 and hit an intra-day high of $57.43. With approximately 2 hours of trading remaining on Friday, shares were trading at $56.95 - up 7.31 percent on the day. Investors positively reacted to a

report that JPMorgan's CEO Jamie Dimon made a large purchase in JPMorgan's stock. The New York Times suggested that Dimon bought $25 million worth of stock, representing roughly his entire 2015 compensation. Bank investors also found Deutsche Bank AG DB's

tender offer announcement

encouraging as well. The bank cited its "strong liquidity position" which allows it to repurchase certain securities without any changes to its 2016 funding plan. Deutsche Bank's stock was higher by more than 10 percent at $17.18 mid-Friday afternoon.

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