FLIY - European stocks lower as as investors assess a news-filled weekend after UBS buys Credit Suisse

2023-03-20 05:22:51 ET

London -1.12% .

Germany -0.99% . Germany February PPI -0.3% vs -0.5% m/m expected.

France -0.70% .

The pan-European Stoxx 600 was down 0.4% , with financial services falling. Banks pared earlier losses to trade lower.

Investors in Europe are digesting the news that UBS has agreed to buy its embattled rival Credit Suisse for $3.2B Sunday.

SNB total sight deposits w.e. 17 March CHF 515.1 bn vs CHF 510.8 bn prior.

Coming up in the session: Eurozone January trade balance data at 1000 GMT.

In bond market, The yield on 10-year Treasuries was down more than six basis points to 3.33%.

Germany’s 10-year yield was down more than thirteen basis points to 1.98%.

Britain’s 10-year yield was down more than ten basis point to 3.17%.

ETFs: ( EWG ), ( GF ), ( EWI ), ( EWQ ), ( EWGS ), ( FGM ), ( DBGR ), ( DXGE ), ( HEWG ), ( DAX ), ( FLFR ), ( FLGR ), ( FLIY ), ( FXB ), ( EWU ), ( FKU ), ( EWUS ), ( HEWU ), ( FLGB ).

More on the Bank Crisis

• UBS confirms deal to acquire Credit Suisse for $3.25B in stock
• Warren Buffett reportedly talking to Biden administration on banking crisis
• First Republic Bank said to face new S&P Global rating cut
• New York Community Bancorp reportedly pursuing acquisition of Signature Bank
• Credit Suisse Collapse: Stock Is A Strong Sell On UBS Buyout

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