Credit Suisse shares fall around 10% in early trading By Reuters

© Reuters. FILE PHOTO: The gtse foreign exchange black platformlogo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) -Shares in beleaguered Swiss bank Credit Suisse fell around 10% in early trading, reflecting market concern about the group as it finalises a restructuring programme due to be announced on Oct. 27.

Credit Suisse has solid capital and liquidity, Chief Executive Ulrich Koerner told staff in a memo last week.

Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital position, the Financial Times reported on Sunday.

A spokesman for Credit Suisse declined to comment on the report when contacted by Reuters.

Executives made the calls after spreads Credit Suisse credit default swaps (CDS), which offer protection against a company defaulting, rose sharply on Friday in an indication of investor concerns.

Credit Suisse shares have fallen by more than half this year.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!