The main European stock exchanges
are turning down
with negative US futures, reversing the course of a day that started on the upside with the reassurances on Credit Suisse..
Why Credit Suisse is in trouble
Just the Swiss banking giant extends the decline (-8.5% 1.84 francs) on the Zurich market (-0.5%) after, according to the Bloomberg agency, the prospectus for the 50 billion intervention by the Central Bank Switzerland ended up in the hands of investors.
Minus signs also for
Milan
(-0.4%),
Frankfurt
(-0.1%),
Paris
(-0.2%) and
Madrid
(-0.46%), while
London
(-0.03%) appears little move.
The banks reduce the rise, from Banco Bpm (+1.27%),
Intesa
(+0.29%),
Unicredit
(+0.06%), while
Mps
slips (-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 down on 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
The ECB raises rates by 0.5% - Economy
Lagarde, 'European banks solid, but ready to intervene' (ANSA)