20 Mar 2023

Banking shares fall but later rally in UK following Credit Suisse emergency rescue deal

Economics Correspondent

Banking shares fell this morning in the UK and around Europe after this weekend’s emergency rescue deal for the troubled bank Credit Suisse.

The Swiss authorities hastily arranged a multi-billion pound takeover by its rival UBS.

The deal was designed to reassure financial markets amid growing concern about the health of the banking system. And this evening stocks DID manage to rally again.