The gains follow an announcement that the bank would make use of a US$54-billion loan from the Swiss central bank and come a day after the Credit Suisse lost a quarter of its market value
Credit Suisse shares jumped around 18% on Thursday after the company secured a lifeline from the Swiss central bank to shore up investor confidence, reversing some of the losses that stripped off a quarter of its market value the day before.a $54-billion loan from the Swiss National Bank helped stem heavy selling in financial markets in Asia on Thursday and prompted a modest rally in European equities.
The initial reception from markets of news of the lifeline was positive. Credit Suisse shares surged by as much as 32% in the first few minutes of trade, following Wednesday’s 24% slide that was triggered by the bank’s biggest backer saying it could not offer any more financial assistance for regulatory reasons.In its statement early on Thursday, Credit Suisse said it would exercise an option to borrow from the central bank up to 50 billion Swiss francs .
Analysts at JPMorgan said in a note that a takeover was the most likely scenario for Credit Suisse, especially by rival UBS. The value of Credit Suisse’s bonds rose sharply. The bank’s additional tier 1 dollar-denominated bonds jumped by around 10 cents, having plummeted below 50 cents on the dollar the day before.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Credit Suisse sign of ‘financial crisis 2.0,’ BTC will drop to $13k before rally - Gareth SolowayGareth Soloway, Chief Market Strategist at InTheMoneyStocks.com and President of VerifiedInvestingEducation.com, joins Michelle Makori, Lead Anchor and Edito...
Lire la suite »
Credit Suisse unease sparks selloff in world stocksRenewed unease gripped world markets on Wednesday as news that Credit Suisse\u0027s largest investor said it could not provide the bank with more financial assistance.
Lire la suite »
Credit Suisse unease sparks selloff in world stocksRenewed unease gripped world markets on Wednesday as news that Credit Suisse\u0027s largest investor said it could not provide the bank with more financial assistance.
Lire la suite »
Investors take to gold as Credit Suisse reignites banking fears, gold price at 1.5-month highs
Lire la suite »
Toronto stocks join global selloff as Credit Suisse sparks concernsCanada\u0027s resources\u002Dheavy main stock index the TSX fell on Wednesday, dragged by energy and financial stocks. Find out more.
Lire la suite »
Toronto stocks join global selloff as Credit Suisse sparks concernsCanada\u0027s resources\u002Dheavy main stock index the TSX fell on Wednesday, dragged by energy and financial stocks. Find out more.
Lire la suite »