Credit Suisse shares surge amid $53b loan

Published

3 years ago

March 17, 2023

The Swiss central bank has agreed to help out

Shares in Credit Suisse have surged after the institution agreed to take a $53 billion loan from the Swiss central bank.

This saw European stocks rebound strongly on Thursday after falling earlier in the day.

The initial fall followed an announcement by Europe’s central bank that it will hike its main interest rate by half a percentage point.

The Banks index, which tracks 42 big E.U. and U.K. banks, closed 1.2 per cent up, while London’s bank-heavy FTSE 100 finished the day 0.9 per cent higher.

Both indexes had fallen on the news the Central Bank will press ahead with rate hikes to help bring down inflation.

Across the pond, it was a similar story.

The S&P 500 bounced 1.7 per cent by early afternoon.

The European Central Bank is pressing ahead with rate hikes, despite the turmoil on global stock markets.

The E.C.B. raised its benchmark rate by another half a percentage point to 3%.

Only a few days ago that had been seen as all but certain.

But doubts had crept in after the rout in global bank stocks, sparked by the collapse of Silicon Valley Bank and worries over the survival of Credit Suisse.

E.C.B. chief Christine Lagarde said stubbornly high inflation meant the bank had to press on with hikes.

But she said policymakers were ready to respond if the situation changed:

“We are monitoring current market tensions closely, and stand ready to respond as necessary to preserve price stability and financial stability in the euro area”.

Rising interest rates have been seen as a major factor in the recent troubles for some banks.

Among other reasons, they tend to lower the value of bonds, which form a vast chunk of the balance sheet for many lenders.

So it was no surprise to see a mixed market reaction.

Euro zone bank shares hit two-month lows after the news, but later rallied.

Credit Suisse shares also seesawed, but remained up around 17% following the morning’s news that it had secured a $54 billion lifeline from the Swiss central bank.

Now attention turns to whether the Federal Reserve will also press ahead with hikes when it meets next week.

After the E.C.B. move on Thursday, markets were pricing in another quarter-point increase.

Australian Dollar surges: What $0.70 means for markets

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

Published

1 day ago

February 18, 2026

Harvey Vargas

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.

Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.

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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets

Money

S&P 500 rises as financial stocks lead and tech slips

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

Published

1 day ago

February 18, 2026

Harvey Vargas

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.

Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.

Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.

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Money

Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Published

2 days ago

February 17, 2026

Harvey Vargas

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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