This quotations of main banks old continent again recording sharp declines This Friday shows that the latest interventions from financial authorities have not calmed investors’ nerves after major central banks continued to raise interest rates despite market turbulence. Bankruptcy in the USA And Credit Suisse bailout package.
Thus, the banking sector Euro Stoxx 600 index fell more than 3% before the mid-session and Deutsche Bank led the declines with a drop of more than 8%.
With the cost of guarantee insurance (CDS) rising strongly, Germany’s largest bank announced its intention to early repay $1,500 million (€1,379 million) as Level 2 fixed-rate subordinated debt due this Friday. 2028 at the rate of 100% of the principal amount on 24 May 2023, with accrued interest until the redemption date (but excluding the redemption date).
On his side, Scandinavian Nordea fell more than 7% and Swiss UBS traded down 5.5%German Commerzbank and France’s Société Générale lost nearly 5%, respectively, while Italy’s UniCredit and France’s BNP Paribas lost more than 3%.
Likewise, shares of other major European banking institutions such as registered ING, Intesa Sanpaolo or ABN Amro fell more than 2%.
In the case of Spain, HE Sabadell Bank He climbed to the top of the waterfall at 11:00. It was followed by Unicaja Banco (-5.62%), BBVA (-5.35%), Banco Santander (-4.97%), CaixaBank (-4.81%) and Bankinter (- 4.71) followed.