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Wednesday, March 29, 2023

European stocks rebound as Credit Suisse grabs lifeline

Euro advances ahead of ECB rate decision

Concerns about Credit Suisse have hammered global markets in recent days. (Photo: AFP)

LONDON: European stock markets rebounded slightly on Thursday after troubled banking giant Credit Suisse secured a big financial lifeline and before a crucial interest-rate decision by the European Central Bank.

Frankfurt, London and Paris won modest gains, a day after plunging about 3.5% over fears about the health of Credit Suisse and the wider banking system following the implosions of two US lenders.

The euro advanced against the dollar ahead of the ECB’s rate decision due Thursday.

Oil prices dipped slightly after plunging to their lowest levels in 15 months on…

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