The main European stock markets opened this Monday at minimums, after the acquisition of Credit Suisse by UBS, which does not erase the fears about the banking sector.
at 8:40 a.m. Lisbonthe EuroStoxx 600 fell 1.60% to 429.22 points.
the bags of London, Paris Is frankfurt they fell by 1.60%, 0.94% and 1.81%, as well as Madrid and Milan, which fell by 2.27% and 2.48%, respectively.
After opening lower, the Lisbon Stock Exchange maintained its trend and at 08:40 am the main index, the PSI, fell 1.50% to 5,638.18 points.
The shares of the UBS bank fell 8.77% at the opening of the Zurich Stock Exchange after an operation to buy Credit Suisse, its traditional rival that was at risk of bankruptcy due to an irremediable crisis of confidence.
The Swiss government offered substantial guarantees for the deal to go ahead: using certain emergency instruments — arguing that the collapse of Credit Suisse could lead to a financial crisis not just nationally but globally.
UBS has agreed to buy Credit Suisse for 3,000 million euros, a price that it will pay solely in shares and that values the shares of the absorbed entity at 40% of their value at the close of the last trading day.
This Monday, a day of general decline in Europe, the market will analyze the purchase of Credit Suisse by UBS and the coordinated action of the main central banks to provide liquidity to the system.
The day started with Brent, the European benchmark crude, falling sharply, 2.69%, to $71.06, while the futures of the main Wall Street indicators anticipate losses of more than 1% this Monday, at a time when the meeting of the Federal Reserve (Fed) is expected. next Wednesday.
On Friday, the New York Stock Exchange closed at a minimum, with the Dow Jones falling 1.19% to 31,861.98 points, compared to the maximum since its creation in 1896, of 36,799.65 points, registered on January 4, 2022.
The Nasdaq closed with a fall of 0.74% to 11,630.51 pointsagainst the current maximum of 16,057.44 points, verified on November 16, 2021.
On the exchange front, the euro opened lower in the Frankfurt exchange market, to quote at 1.0638 dollars, compared to 1.0670 dollars on Friday and 1.0909 dollars on February 2, the maximum since April of 2022.
The euro has been trading above parity against the dollar since November 7, after having been below parity since September 20, with the exception of October 26 ($1.0076).
Source: Observadora
