Investors took the the hills with the European banking index down by almost 6%, leaving it on course for €120bn of losses since the crisis of confidence began.Read more:In London, the FTSE 100 was trading 2.5% down by late morning with financial stocks enduring the worst of the pain.4:41Its largest shareholder, Saudi National Bank , said it would not buy more shares on regulatory grounds as it would take its stake above 10%.
A string of scandals have undermined the confidence of its investors and clients, with Credit Suisse customer outflows in the fourth quarter rising to more than 110 billion Swiss francs SNB said it was happy with Credit Suisse's turnaround plan and did not think it would need more money. That was despite its annual report for 2022, released earlier this week, admitting that"material weaknesses" in controls over financial reporting had been identified and customer outflows had not yet been stemmed.
I take it this will be due to brexit...
The question is has Suisse been wrapping toxic bundles with a ribbon and off laoding? Spreading the misery...
Another global banking crash. Do they never learn, meanwhile we all continue to suffer. FTSE down nearly 200. This was predicted back in December now it's reality. Anyone would think it was a deliberate act!!!! You will own nothing.
It’s over !!!