The main ones are declining European stock exchanges with US futures negative, reversing the course of a day that started upwards with the reassurances on Credit Suisse.
Why Credit Suisse is in trouble
The Swiss banking giant extends the decline (-8.5% to 1.84 francs) on the Zurich market (-0.5%) after, according to the Bloomberg agency, the prospectus for the 50 billion euro intervention by the Central Bank Switzerland ended up in the hands of investors.
Minus sign for too Milano (-0,4%), Frankfurt (-0,1%), Paris (-0,2%) e Madrid (-0.46%), while London (-0.03%) appears little moved. The banks reduce the increase, from Banco Bpm (+1.27%), Understanding (+0,29%), Unicredit (+0.06%), while slipping Mps (-3,33%).
Minus signs also for HSBC (-1.38%), Lloyds (-0.97%) and Credit Agricole (-0.6%). Ubs (-0.84%) also fell in Zurich (-0.84%), which according to reports from the Bloomberg agency is against a merger with its rival Credit Suisse. Energy performed well with Eni (+1.05%), Saipem (+1.65%) and Tenaris (+1.49%), together with BP (+1.37%), Shell (+1.54% ) and TotalEnergies (+1.05%), after the opinion of Morgan Stanley analysts on the sector.
First Republic in calo a Wall Street, -14,21%
First Republic down on Wall Street in trading ahead of market opening. Stocks lose 14.21%. Managers sold $12 million worth of stock in the two months leading up to the bank’s recent woes. The Wall Street Journal reports it, underlining that the average sale price was 130 dollars per share. Shares of First Republic fell 58% this week to $34.27 a share
ANSA Agency
Lagarde, ‘European banks solid, but ready to intervene’ (ANSA)
