- At the end of the week, Credit Suisse shares went into reverse again.
- After an initially friendly start, they again hold the red lantern in the leading Swiss index SMI.
- At the end of trading, there was a minus of 8 percent compared to the previous day.
After the shares had initially risen to 2,087 francs, things then went down rapidly. At the close of trading, the price was 1.86 francs. The week as a whole resulted in a minus of 25 percent.
Levies on exchanges have generally widened since overseas traders began trading.
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.
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.
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.