Another session to forget for the Ftse Mib, knocked out – as well as the rest of the European stock exchanges – since the Credit Suisse meltdown. To affect the unavailability of Saudi shareholders to a new injection of liquidity in the event of further requests. The blue chip index, on which the banking sector has a certain weight, leaves ground at 4.61% at 25,565 points, burning over 27 billion in terms of capitalisation.
Deep red Wednesday for the European stock exchanges overwhelmed by the collapse of Credit Suisse which loses the support of Saudi shareholders in the event of new requests for liquidity. After the collapse at the beginning of the week due to the collapse of the Californian Svb, the lists of the Old Continent send 355 billion in terms of capitalization up in smoke. Among the individual price lists, Frankfurt lost 3.27% (Dax 14,735 points), London 3.83% (Ftse 100 7,344 points), Paris 3.58% (Cac 40 at 6,885 points).
ECB: analysts cut estimates, up only 25 points
The ECB will only raise rates by 25 basis points at tomorrow’s meeting, and not by 50 as expected. This is the latest estimate by Bloomberg Economics analysts, who changed their previous forecast by 50 points after the storm on the stock markets triggered by the collapse of the Credit Suisse stock. Already yesterday some analysts, including those of Deutsche Bank, had begun to cut estimates on rate hikes.
US lens on exposure to American banks at Credit Suisse
The US Treasury is examining the exposure of US banks to Credit Suisse and is in contact with the European authorities. The Bloomberg agency reports it, citing some sources.
Oil splash in New York, where prices collapsed by 6.9% to 66.42 dollars a barrel. The decline is the largest in six months.
“We are monitoring the situation, the impact on the EU seems contained but we should reflect on the lessons to be learned for the European banking sector”, said EU Commissioner for Financial Services Mairead McGuinness speaking to the Eurochamber on the effects of the Silicon Valley crash bank. “Together with regulators we are monitoring developments and that includes a market reaction that was initially negative but has since subsided.”
What is happening to US banks