Credit Suisse shares are trading higher on the Swiss market

17.03.2023

Credit Suisse shares traded 1.8 percent higher on the Swiss stock exchange on Friday, before returning some of their gains as a result of high volatility.

The stock, which fell to 1.55 Swiss francs on Wednesday, rose to 2.087 francs from Thursday’s closing price of 2.022 francs.

They later regained their position and were trading at 2.039 francs, or 0.8 percent higher.

The stock recovered 19% of its value on Thursday after a 25% drop on Wednesday, triggered by the biggest investor’s announcement that it would not be able to increase its stake.

The drop in the stock prompted Credit Suisse to apply for an emergency liquidity line from Switzerland’s central bank, which the lender called a “decisive action” to boost its liquidity.

The financing will allow Credit Suisse to continue restructuring, although it may take time to regain customer confidence.