one hour ago
UBS shares rose after completing the Credit Suisse acquisition
Shares of UBS rose 1.1 percent after the Swiss bank said it had completed the takeover of former local rival Credit Suisse.
The deal was hastily arranged in March, facilitated by regulators, amid fears that heavy losses at Credit Suisse would destabilize the banking system.
The Swiss government has agreed to cover losses of up to 9 billion Swiss francs ($10 billion) beyond the initial 5 billion Swiss francs that UBS must bear as part of the deal, as it absorbs riskier business.
UBS said on Monday it expects “significant” restructuring costs and operating losses for Credit Suisse offset by reductions in risk-weighted assets.
see chart…
UBS Group share price.
one hour ago
European stocks open higher
European stock markets opened higher on Monday, with the regional Stoxx 600 index up 0.4% at 8:10 am London time.
Household commodities led the gains, up 1%, as mining and oil and gas stocks alike traded down about 0.8%.
Germany’s DAX and France’s CAC 40 both rose 0.8% as investors await the European Central Bank’s monetary policy meeting on Thursday, while the UK’s commodity-heavy FTSE 100 rose 0.15%.
see chart…
Stoxx 600 index.
8 hours ago
CNBC Pro: Analysts Are So Pessimistic About These 13 Global Stocks They Expect They’ll Drown
8 hours ago
CNBC Pro: Wells Fargo strategist warns investors to ‘chase this stock rally’ as Fed meeting nears
There’s a risk that stocks could drop from here, says Paul Christopher, head of global market strategy at the Wells Fargo Investment Institute.
“There is probably more downside risk in stocks at this point (aka don’t chase this stock rally),” he told CNBC. “The markets are very satisfied in our opinion.”
Explain why.
CNBC Pro subscribers can read more here.
– Wizen tan
5 hours ago
European Markets: Here are the opening calls
European markets are expected to open higher on Monday as investors prepare for a week of major central bank meetings in the US and Europe.
Britain’s FTSE 100 is expected to rise 34 points at 7,591, Germany’s DAX 56 points higher at 16,001, France’s CAC 26 points higher at 7,230 and Italy’s FTSE MIB 76 points higher at 27,259, according to data from IG.
No major earnings or data releases today.
– Holly Ellytt
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”