Today's Stock Exchanges, March 16th. The support for Credit Suisse calms the markets, the stock markets rebound
MILAN - After yesterday's storm, the serene is back up Credit Suisse. Overnight, the institute received support of up to 50 billion francs (54 billion dollars) from the Swiss central bank. An initiative, explained Credit Suisse, to "strengthen its liquidity in advance". That was enough to instill confidence in the market, with the stock jumping nearly 30 points at the start. The European stock exchanges also toast: Milan marks an increase of about 2 points at the start.
However, yesterday's crisis had its last aftermath tonight, with the Asian markets experiencing a downturn and where Tokyo closed down by 0.8%.
Banks, EU Commission: "We monitor developments"
"We are closely following developments in the EU banking sector and are in contact with the relevant European and national authorities responsible for supervising banks." This was stated by a spokeswoman for the European Commission when asked about the tensions over Credit Suisse. "As usual - she adds - we do not comment on the daily movements of the market"
Credit Suisse max rebound: +30%
Credit Suisse shares rebounded sharply on the open on the Zurich Stock Exchange, regaining more than 30% after gaining support from the Swiss Central Bank to reassure markets at the end of the worst session in its history.
The stock jumped 30.82% to 2.22 Swiss francs in early trading after hitting an all-time low of 1.55 francs yesterday during a session in which the stock had lost up to 30%.
European stock markets up sharply
European stock markets open the session sharply higher. Piazza Affari opens at +2.31% with the Ftse Mib at 26,157 points. Frankfurt scores +1.57%, London +1.42% and Paris 1.72%.
The spread opens higher
Opening down for the spread between BTPs and German Bunds to 190 basis points compared to 198 points at yesterday's closing. The 10-year rate instead rises to 4.146%
