Wall Street downgrades European banks and names stocks to buy ‘in case markets sour’

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

Shares of Deutsche Bank are slumping on the latest sign of banking concerns

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 Deutsche Bank are down 9% after a sudden spike in default insurance costs

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

Swiss regulator defends controversial $17 billion write-down of Credit Suisse bonds

“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

Crypto Firms Look to Swiss Lenders After Silvergate and Signature Bank Fail

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

Not everyone is happy that UBS is buying Credit Suisse

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: Banks, Nvidia, Starbucks

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

UBS buys Credit Suisse, news, stocks

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

Regulators in Asia say the banking system is stable after the deal with UBS and Credit Suisse

Regulators in Asia issued reassuring statements on Monday that their banking systems remained robust and stable after Swiss banking giant UBS agreed to buy its rival Credit Suisse. Swiss regulators played a key role in orchestrating the forced takeover, to halt a wider banking crisis that would threaten the global system. From Hong Kong to … Read more

Stock market today: live updates

50 minutes ago Regional banking stocks under pressure due to fears of banking crisis Regional banking stocks plummeted last week as Wall Street grew concerned about a widespread banking crisis. The SPDR Regional Banking ETF (KRE) fell 6% on Friday and ended the week 14% lower. First Republic has been the worst performer among regional … Read more