Live news: S&P cuts UBS outlook to negative over Credit Suisse ‘integration’

0

European equities markets closed higher on Monday, with gains for many of the region’s banking stocks.

The Stoxx 600 closed 1 per cent higher, while Germany’s Dax added 1.1 per cent and France’s Cac 40 climbed 1.3 per cent. London’s FTSE 100 rose 0.9 per cent.

The Euro Stoxx Banks index was up 1.3 per cent, as many of the continent’s biggest names recovered from early declines.

UBS finished 1.3 per cent higher, erasing an earlier drop of more than 14 per cent, as investors weighed its takeover of Credit Suisse, which plunged 55.7 per cent. Its shareholders are on course for a large writedown in value as a result of the UBS deal.

Among other decliners, Barclays fell 2.3 per cent and Société Générale lost 0.8 per cent.

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest World News Click Here 

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Leave a comment