German Chancellor Olaf Scholz said Deutsche Bank is profitable after shares fell more than 10% during European trading. Ludovic Marin | Afp | Getty Images BRUSSELS – European leaders wanted to emphasize on Friday that the banking sector in the region is stable and solid German Bank‘s sudden drop as markets opened up for trading. … Read more
Wall Street downgrades European banks after tensions in the sector led to the emergency merger of Switzerland’s two largest lenders. At the same time, investment bank Citi also upgraded the continent’s technology sector, saying they favored “quality growth” in the face of lower growth rates and deteriorating fundamentals. In a note to clients on March … Read more
Last updated: March 24, 2023 at 5:39 am ET First published: March 24, 2023 at 5:10 a.m. ET Shares of Deutsche Bank slumped on Friday, throwing the spotlight on the health of another globally systemically important bank heading into the weekend. Shares of German lender XE:DBK fell 8% in Frankfurt trading and the Euro Stoxx … Read more
Shares of the German lender retreated for a third straight day and have lost more than a fifth of their value so far this month. A logo can be seen above Deutsche Bank AG’s headquarters in the Aurora Business Park in Moscow, Russia. Andrei Rudakov | Bloomberg | Getty Images Shares of Deutsche Bank fell … Read more
“The AT1 instruments issued by Credit Suisse contractually stipulate that they will be fully amortized in a ‘viability event’, particularly if exceptional government assistance is provided,” FINMA said in a statement Thursday. “As Credit Suisse received extraordinary liquidity support loans on March 19, 2023 backed by a federal default guarantee, these contractual terms were met … Read more
The gold price has more room to rise and could reach as high as $2,600 an ounce. Investors are turning to gold and government bonds after the collapse of Silicon Valley Bank and Credit Suisse’s troubles. According to Refinitiv data, the all-time high in gold was $2,075 in August 2020. Investors are flocking to gold … Read more
Cryptocurrency companies are struggling to find institutions to bank with after the collapse of Signature Bank and Silvergate Capital. These companies have turned to crypto-friendly Swiss banks, flooding them with requests for banking services, according to multiple industry insiders who spoke to CNBC. Part of the reason companies seek out Swiss banks is the country’s … Read more
A construction site security guard outside a bank branch of Credit Suisse Group AG in Bern, Switzerland, on Monday, March 20, 2023. Stefan Wermuth | Bloomberg | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need … Read more
Top 10 things to watch Monday, March 20 1. Wall Street looks stable at the start of the week and ahead of the Fed’s interest rate decision Wednesday afternoon after the meeting. The market estimates about a 60% chance of a rate hike by a quarter point and a 40% chance of no hike as … Read more
28 minutes ago European bank shares fall 25 minutes ago European stock markets open lower European equities were lower at the start of trading as investors assessed a weekend of news that resulted in UBS acquiring Credit Suisse. The Stoxx 600 index was down 1.4% at 8:30am London time, with losses across the major stocks … Read more