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☆ European markets climb after breaking losing streak
  + stars: | 2023-06-28 | by ( Elliot Smith Hannah Ward-Glenton | Elliot Smith | Hannah Ward-Glenton | ) www.cnbc.com   time to read: +1 min
European equity markets climbed on Wednesday after tentatively breaking their losing streak at the end of Tuesday's session. The pan-European Stoxx 600 was up 0.5% in early trade, with construction and material stocks adding 1% to lead gains as all sectors and major bourses advanced. Speaking Tuesday, European Central Bank President Christine Lagarde said inflation was still too high in the euro area and it was too soon to "declare victory" on sticky high prices. ECB Governing Council member Mārtiņš Kazāks told CNBC that markets were mistaken in thinking rates will fall quickly and said he believed "next year is way too early" to think about cuts. He said loosened monetary policy should not come until inflation is "significantly and persistently" below the 2% target.
Persons: Christine Lagarde, Mārtiņš Kazāks Organizations: European Central Bank, ECB, CNBC Locations: Germany, Spain, U.S, Asia, Pacific, Australia, China
☆ Credit Suisse shares tank after Saudi backer rules out further assistance
  + stars: | 2023-03-15 | by ( Elliot Smith Hannah Ward-Glenton Sam Meredith | Elliot Smith | Hannah Ward-Glenton | ) www.cnbc.com   time to read: +1 min
Commuters cycle past a Credit Suisse Group AG bank branch in Basel, Switzerland, on Tuesday, Oct. 25, 2022. Credit Suisse will present its third quarter earnings and strategy review on Oct. 27. Shares of Credit Suisse on Wednesday hit another all-time low for a second consecutive day, dropping by more than 24% at one point during the session. Credit Suisse's largest investor, Saudi National Bank, said it could not provide the Swiss bank with any further financial assistance, according to a Reuters report, sparking the latest leg lower. It's a regulatory issue," Saudi National Bank Chairman Ammar Al Khudairy told Reuters Wednesday. However, he added that the SNB is happy with Credit Suisse's transformation plan and suggested the bank was unlikely to need extra money.
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