Home » Abandoned Credit Suisse – CS shares continue to have a difficult time – News

Abandoned Credit Suisse – CS shares continue to have a difficult time – News

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Abandoned Credit Suisse – CS shares continue to have a difficult time – News

  • At the end of the week, Credit Suisse shares went into reverse again.
  • After an initially friendly start, they again held the red lantern in the Swiss leading index SMI in the morning.
  • However, the levies are in no way comparable to last Wednesday’s sell-off.

Shortly before 11 a.m., the share certificates fell by 3.6 percent to 1,949 francs. After the shares had initially risen to 2,087 francs, they then quickly fell to 1,905 francs. They have since recovered somewhat from the low.

Dealers are a bit speechless. After all, there were no new bad news overnight. However, it is also the case that the big bank, with its numerous scandals and problems, has massively lost the trust of investors.

US shareholders’ lawsuit

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The problems at Credit Suisse could become a case for the US courts. According to media reports, the bank has been sued by US shareholders. They accuse the bank of concealing the problems related to their finances and of having deceived the shareholders. This is reported by the news agencies Reuters and Bloomberg.

Accordingly, the lawsuit has been filed in federal court in New Jersey. It was also directed against CS boss Ulrich Körner and chairman of the board of directors Axel Lehmann. Credit Suisse declined to comment on the reports when asked by the AWP news agency.

How strong was ultimately shown by the price slump on Wednesday, when the papers had lost more than 30 percent in value at times. The courageous backing of the Financial Market Authority and the National Bank would then have made a significant contribution to the recovery on Thursday.

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speculators and short sellers

As can be heard in the trade, the CS share should simply have become a plaything for speculators. A broker says that short sellers are at work. This is also the day of the major quarterly decline on the Eurex futures exchange. That might increase the movement. Because on these dates, share prices can fluctuate noticeably without any significant news.

The other financial stocks such as UBS, Partners Group and Julius Baer have also lost their initial momentum in the course of trading, and Julius Baer are now also in the red. They had also gotten under the wheels in the course of the panic on Wednesday.

As one asset manager adds, after the rollercoaster ride of CS shares, he expects continued pressure, even looking ahead. The current fear of contagion in the banking sector – also in view of the recent bankruptcies in the USA – and the pressure from the markets would have a significant negative impact on CS.

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