The Paris Stock Exchange should come back to life at the opening on Thursday after the big drop the day before caused by turbulence at Credit Suisse, which accentuated fears about the stability of the financial sector and will complicate the task of the European Central Bank .
The futures contract for the star CAC 40 index rebounded by 1.49% around forty minutes before the opening of the session.
The day before, the CAC 40 index fell by 3.58%, signing its worst session since March 2022.
“
European indices are set to open higher this morning following the release of a statement from the Swiss National Bank (SNB) that Credit Suisse has met capital and liquidity requirements for major banks. systemic
,” says John Plassard, investment specialist at Mirabaud.
The Swiss central bank (SNB) has also said it is ready to make liquidity available to the Zurich institution “
if necessary
”.
Credit Suisse announced Thursday that it would borrow up to 50 billion Swiss francs (50.7 billion euros) from the SNB in the short term to "strengthen
"
.
Analysts at JPMorgan, one of the world's biggest banks, said in a less reassuring tone that the loan from the Swiss central bank would not be enough to allay investors' concerns and that "the status quo was no
longer an option
”.
In a note published Thursday morning, analysts at the American bank believe that a takeover of Credit Suisse by one of its competitors would be the most likely way out of the crisis, mentioning in full the Swiss bank UBS.
Read alsoThe Swiss National Bank flies to the aid of Credit Suisse
Another rate hike?
Since the collapse of several US regional banks last week, nervousness has spread to financial markets.
Reassured for a session on Tuesday about the soundness of the banking system, they were completely destabilized on Wednesday by Credit Suisse, whose stock suffered the worst fall in its history.
Bank stocks were attacked, oil prices plunged, investors took refuge in risky assets.
Faced with this banking tumult, the European Central Bank is walking on eggshells and every word of its monetary policy statement expected at 1:15 p.m. will be weighed.
"
The European Central Bank has the complicated task of being the first central bank to decide what to do in this banking crisis
," said Ipek Ozkardeskaya, analyst at Swissquote Bank.
According to experts, the ECB, which must decide on Thursday on a new rate hike of half a point to fight inflation, could be tempted to water down its action to give banks a breath of fresh air.
