Thursday's session on equity markets sees Credit Suisse (CSGN.CH) shares up nearly 30%, having yesterday received a guarantee of support from the SNB and FINMA. The Swiss bank will borrow nearly 50 billion Swiss francs from the central bank, of which 39 billion francs are to be used immediately. Nearly 3 billion francs are to be used to buy its own bonds from the market to strengthen the Bank's positions and calm fears around the Swiss giant.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThe reaction has also highlighted spreads on the Bank's CDS, which are losing sharply from yesterday's astronomical run. As reported by JP Morgan, that it reiterates an 'overweight' rating on Credit Suisse bonds and adds that SNB support will give time for the Bank's restructuring to be fully fledged. Source: Bloomberg
The Bank's shares gained sharply at the start of today's session and erased all of yesterday's losses. The upward impulse was stopped for the moment by the limit set by the EMA50 on the H1 interval. Source: xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
