U.S.-listed Credit Suisse shares jumped after the firm said it would borrow up to 50 billion Swiss francs from the Swiss National Bank.
Wall Street analysts were split on whether they should buy into Credit Suisse — though they found central bank support of the troubled Swiss firm reassuring. U.S.-listed Credit Suisse shares jumped more than 6% in Thursday premarket trading after the firm said it would borrow up to 50 billion Swiss francs from the Swiss National Bank. Earlier, the central bank said it would give Credit Suisse liquidity if necessary, saying the firm is well capitalized.
To be sure, Henriques noted that any further market volatility could hurt investor sentiment. Separately on Thursday morning, RBC Capital Markets' Anke Reingen reiterated a neutral rating on the bank. The analyst said both the stronger liquidity position and backstop from the central bank are positives for the Swiss firm, but worried over more challenges in the horizon. "Regaining trust is key for the CS shares.
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