deutsche bank ag led europes bank shares higher in early trade monday recouping some losses after a selloff at the end of last week however banking turmoil might not yet be over some analysts warned at 0730 gmt deutsche shares traded 38 higher at eur886 recovering some of the previous weeks consecutive losses including a dip of as much as 15 on friday fellow german lender commzerbank ag rose 27 while frances societe generale sa and bnp paribas sa gained 12 and 2 respectively having led the blue chip cac 40 index when the market opened spains banco santander sa rose 23 italys unicredit spa gained 12 the concerns around deutsche germanys largest lender last week brought fresh stress to the european banking sector days after ubs group ag agreed on a deal to take over struggling rival credit suisse group ag market conditions can change very quickly in this environment analysts francesco pesole at ing said in a research note shares in ubs on monday gained only slightly to chf1737 fridays turmoil suggests that confidence among european bank bondholders is far from fully restored after the credit suisse saga mr pesole said though he noted that the share crash may have been overdone indeed the sector should now be able to look forward with more confidence analysts at jefferies said in a note many of the concerns raised by investors and media have now passed and european banks are perhaps in the strongest position they have been in since the last global financial crisis jefferies said