European stocks bounce off lows as utilities offset CS deal jitters

it will pay 3 billion Swiss francs for the 167-year-old bank and assume up to $5.4 billion in losses.Investors were also spooked by news that Credit Suisse's additional tier-1 bonds - or AT1 bonds - with a notional value of $17 billion will be valued at zero,some of the holders of the debt who thought they would be better protected than shareholders.

"We are surprised how they are going about this AT1 capital," said Teeuwe Mevissen, senior macro strategist at Rabobank. "If you look at the seniority of both, equity holders should be the first ones to lose their money. Now doubt has been cast on this principle ... markets participants are confused and the decision comes with a lot of uncertainty."slid 1.8%, but recouped from sharp declines of 6% earlier when it hit a three-month low.

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Credit Suisse Shares Plunge 60% And European Bank Stocks Slide After UBS RescueOil prices and global shares fell after UBS unveiled plans to buy its struggling Swiss rival Credit Suisse for $3.2 billion over the weekend. Euro could've been world's currency, alas! for US luitenents in EU. After SVB, Credit Suisse is the second bank to be rescued, probably not the last one. - CS shareholders just lost a lot of money with this sale. - All major banks just got a huge hit in the stock markets. Guys, you should all think about crypto as an alternative option.
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