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Stock Exchange: Milan opens sharply higher and Europe keeps pace

2023-03-16T08:37:06.308Z


Good start for European stock markets in the aftermath of the panic-related collapses at Credit Suisse. The Swiss bank's stock flies to the Zurich Stock Exchange where it scores a record rise of 40% after yesterday's crash when the Saudi Arab Bank shareholder declared that it will not inject more capital unless the rules that limit its share to the 10% (ANSA)


Piazza Affari opens sharply higher.

The Ftse Mib gains 1.62% to 25,979 points following a drop of more than 4.6%.

Good start on the European stock markets in the aftermath of the panic-related collapses at Credit Suisse.

Frankfurt gains 1.62% at the opening, Paris 1.64% at the start while London rises by 1.35%.

Credit Suisse flies to the Zurich Stock Exchange where it scores a record 40% increase after the decision to borrow 50 billion francs ($54 billion) from the Swiss central bank.

 The stock dropped 24% yesterday after shareholder Saudi Arab Bank said it would not inject more capital unless rules limiting its stake to 10% change.

The announcement of the Swiss bank, ready to borrow up to 54 billion dollars from the Central Bank of Zurich to face the crisis of confidence, to repurchase its bonds for 3 billion, reassured the markets.

Source: ansa

All life articles on 2023-03-16

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