Credit Suisse recovers in the stock market after the mega millionaire bailout of the Swiss Central Bank

Shares of Credit Suisse bank rose sharply this Thursday at the opening of the stock market,

to calm the markets after the worst session in its history.

In the first operations, the title of the banking entity gained 30.82% on the Zurich stock market, at 2.22 Swiss francs, after reaching a record low of 1.55 francs on Wednesday, when the action closed the day with a collapse of 24.24%.

Credit Suisse announced early Thursday morning European time that

($53.7 billion) from the central bank.

At the same time, the bank announced in a statement a series of debt buyback operations for around 3 billion Swiss francs.

"These steps are a decisive move to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our customers and other stakeholders," the bank's chief executive officer, Ulrich Koerner, was quoted as saying in the statement.

After an astonishing silence since the start of the week, the Swiss central bank and Switzerland's financial supervisor finally came to CS's defense on Wednesday.

"Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks," the Swiss National Bank (SNB, central) and the Financial Market Supervisory Authority (Finma) said in a joint statement.

"In case of need, the BNS will make liquidity available to Credit Suisse," the institutions added.

The Credit Suisse collapse comes after the bankruptcy of the Californian bank Silicon Valley Bank (SVB) due to a wave of massive withdrawals from its clients that left the establishment in difficulties to get out on its own.

"It seems that more and more investors are looking at CS as the next most likely domino" to fall, said Neil Wilson, an analyst at Finalto.

But if Credit Suisse has to deal with "existential problems", it is a different kind of difficulty for the banking sector, in his opinion.

"It's really too big to go bankrupt," he said.

Unlike SVB, the Swiss establishment is one of the thirty international banks considered too important to be allowed to fail, which also imposes stricter regulations to withstand strong shocks.

Concern extends beyond Switzerland, with the US Treasury saying it was "monitoring the situation and in contact with international counterparts."

The announcements from Switzerland had an effect on the main European stock markets, which opened this Thursday with increases the day after a day with losses of between 3 and 4%.

In the early stages, Paris rose 1.49%, Frankfurt 1.52%, London 1.40%, Madrid 1.98% and Milan 1.48%.

In Asia, concerns about the effects of the SVB bankruptcy continued to weigh heavily.

Tokyo lost 0.8% at the close, Hong Kong 1.72% and Shanghai 1.12%.

The collapse of the Swiss bank's shares accelerated on Wednesday after the refusal of its main shareholder, the Saudi National Bank, to increase its stake in the capital.

Asked by Bloomberg TV about whether the Saudi bank could invest more money, its president, Amar Al Judairy, said: "The answer is absolutely no, for several increasingly simple reasons, which are regulatory and statutory," he said.

The Saudis currently own 9.8% of the Swiss bank.

"If we go above 10%, a series of new rules come into effect," he explained.

The Saudis became CS's first shareholders during a November capital increase launched to finance a major restructuring of the entity.

The bank has been in trouble for two years after the bankruptcy of British financial firm Greensill, which marked the start of a series of scandals that weakened the bank.

Some shareholders ended up throwing in the towel, such as the US investment company Harris Associates, one of its most important backers, which revealed last week that it had sold all of its stake.