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CS shares closed at CHF 2,022 yesterday evening. This was a slight improvement. This was because investors were rescued from the 50 billion bailout ring for CS by the Swiss National Bank (SNB).
After all the controversy over SNB’s aid package for Credit Suisse, the focus is on the major bank’s IPO. In the US, a similar aid package for the troubled regional bank First Republic contributed significantly to calming the markets. But not in Switzerland.
The CS share initially started positive, but later dropped below the CHF 2 mark. This is an important psychological threshold right now.
However, time will tell whether the ailing big bank can regain the trust of customers and investors.
The leading index SMI is currently in green. One of the best-performing stocks so far on SMI is CS rival UBS’s share.
— update follows —
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
