European Markets Rise Despite Bank Sector Concerns
TL;DR Summary
European markets rebounded from earlier losses, but bank shares were still down despite coordinated moves by central banks to boost the flow of US dollars through financial markets and the emergency rescue of Credit Suisse by bigger Swiss rival UBS. Shares in UBS, which agreed Sunday to buy Credit Suisse for $3.25 billion, fell 8.8%. Credit Suisse shares crashed 60% in mid-morning trade, in line with the value of the UBS offer.
- European markets recover despite further falls in bank stocks CNN
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- EURUSD Wilts As Bank-Sector Woes Hit Risk Appetite Once Again DailyFX
- European shares higher despite Credit Suisse-UBS jitters; mining stocks lead gains CNBC
- EUR/USD: Confusion, doubt and fear drive the pair FXStreet
- View Full Coverage on Google News
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