New black day for global banking. The markets are wary that the crisis unleashed in the US and Switzerland is over. The European stock markets open this Monday with falls that extend the negative trend already seen last week, when doubts about Credit Suisse broke out.
Once again, the entities are the most punished. In Spain, Sabadell left 7% in the first movements, with Unicaja (-6%), Santander (-5.5%), Caixabank (-5.4%), BBVA and Bankinter (-5%) behind. In the rest of the continent, the German Deutsche Bank yields 10%, the Dutch ING leaves 9%, the French BNP Paribas 8%, the Italian Intesa Sanpaolo 5%...
The Ibex 35 traded at the opening with a decrease of 2% after the first exchanges. The day started similarly in Frankfurt, Paris and London, with declines of more than 1.5%.
This Sunday the sale of Credit Suisse to UBS for 3,250 million euros was closed, a solution to try to stop the bleeding and the contagion effect to other European entities. In addition, the central banks of the US, the euro zone, England, Canada, Japan and Switzerland have coordinated to guarantee liquidity.
For investors, the Swiss bank has become a plague and its shares fell again today, 9%. "Many wonder who could be next," analyzed Rodrigo Catril, of National Australia Bank. "Central banks must instill confidence without sending a message of concern," he added.
For the moment the tension remains. In Asia the session has been similar. Tokyo has left 1.42% and Hong Kong 3.52%, with a decrease of 5% in Shenzhen.
