NEW YORK, March 22 ― Global shares leapt yesterday after the rescue of Credit Suisse stemmed a rout in equities and whetted risk appetite, although financial system...
NEW YORK, March 22 ― Global shares leapt yesterday after the rescue of Credit Suisse stemmed a rout in equities and whetted risk appetite, although financial system uncertainties limited buying as investors awaited the outcome of a Federal Reserve meeting.
Shares of First Republic Bank, a top concern of US investors, surged 29.5 per cent on news that JPMorgan CEO Jamie Dimon is leading talks with other big banks on new steps to stabilise it, including through a possible investment. European banking stocks, which seem headed for their biggest monthly slide in three years, rose by 3.8 per cent yesterday, helping lift the regional STOXX 600 index by 1.3 per cent.
“While global regulators are acting with pace, this appears to be a game of 'whack-a-mole,'” bank analyst Jonathan Mott at Barrenjoey in Sydney said.
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