BUZZ-Goldman Sachs shares rise as investment banking, trading boost profit

Shares of Goldman Sachs GS.N rise 1.6% to $580.67 premarket

GS profit more than doubles in Q4, driven by fees from dealmaking, debt sales and strength in trading

Q4 marks bank's highest quarterly profit since the third quarter of 2021 - data compiled by LSEG

Investment banking fees up 24% at $2.05 billion

Banking industry analysts are expecting a rise in dealmaking this year on the back of further rate cuts by the Federal Reserve and pro-business comments from President-elect Donald Trump

Wall Street giant's profit rises to $4.11 billion, or $11.95 per diluted share, for the three months ended Dec. 31, compared with $2.01 billion, or $5.48 per share, a year ago.

GS shares jumped 48.4% in 2024, outperforming the 34.2% rise in S&P 500 Banks index .SPXBK

(Reporting by Jaiveer Singh Shekhawat and Lisa Mattackal in Bengaluru)

((JaiveerSingh.Shekhawat@thomsonreuters.com;))