UBS shares drop 8.77% after Credit Suisse takeover, banking sector plummets in Europe

After the takeover of the Swiss bank Credit Suisse by its rival UBS on Sunday, the action of the latter fell (- 8.77%) and failed to reassure investors.

European stock markets opened lower on Monday.

At 9:10 a.m., the Parisian market fell by 0.83%, that of Frankfurt by 1.06% and London by 1.01% after a dark week in the banking sector which weighed down all the markets.

The banking sector is falling in Europe (BNP Paribas -8%, Deutsche Bank -5%)

More information to come...