|Bid||13.00 x 21500|
|Ask||0.00 x 800|
|Day's Range||13.18 - 13.32|
|52 Week Range||10.23 - 17.23|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.26 (2.23%)|
|1y Target Est||16.02|
Our call of the day says investors should take care as the stock market sets out new highs, because a big group of investors is sitting on the sidelines, waiting to cash in on a fall.
Credit Suisse Group AG’s troubled trading business is finally bringing some much needed relief to Chief Executive Officer Tidjane Thiam. The global markets unit -- a focus of painful cuts and a perennial headache for the CEO -- did better than top Wall Street banks in a period that rival UBS Group AG described as one of the worst in recent history. Wealth management, which Thiam built up to balance volatile trading, benefited from an influx of new money, leaving the advisory unit as the main weak spot of the quarter.
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The Swiss bank reported first-quarter earnings on Wednesday that beat estimates for both net income and revenue. This should all vindicate Thiam and his vision to pivot the firm toward managing money for the rich, while maintaining a chunky investment bank to serve those same customers.
Credit Suisse set a positive tone for this quarter's European bank results on Wednesday, lifting its net profit as gains in equities and deeper ties between trading and private banking helped offset lower revenue. Switzerland's second-biggest bank bucked market expectations of a profit dip and said it gained market share in equities trading during a quarter in which major U.S. rivals such as Goldman Sachs and Morgan Stanley saw revenue slides in this business. Its Global Markets trading unit, the focus of much criticism in recent years, increased equity trading, with Chief Executive Tidjane Thiam saying Credit Suisse was "moving up the ranks in equities".
European markets gave back much of Tuesday’s gains as strong earnings elsewhere could not offset oil companies’ retreat. How did markets perform? The Stoxx 600 (XX:SXXP) was down 0.1% to 390.9, after rising 0.
European stocks were mixed Wednesday morning, as market participants monitored the latest flurry of corporate results.
Credit Suisse reported an 8 per cent rise in first-quarter net profit, beating estimates, as its wealth management unit continued to grow and it reversed the decline in its securities trading business. The Swiss lender’s previously struggling global markets division made a SFr282m ($277m) pre-tax profit in the period, exceeding analysts’ expectations and recovering from the SFr289m it lost in the second half of last year.
Credit Suisse said Wednesday that it saw some positive momentum at the end of the first quarter, which has continued into April. Credit Suisse produced another rise in net profit for the first quarter of 2019, its first reporting period following the completion of its three-year restructuring plan. The bank reported a net income of 749 million Swiss francs ($733.93 million) for the first quarter of this year, an 8% increase year-on-year.
Tidjane Thiam was revelling in the difficulties of Wall Street banks as he unveiled Credit Suisse’s first-quarter results. International Wealth Management, the engine of Mr Thiam’s turnround, increased net revenues by 1 per cent and profits by 8 per cent. Revenues fell 10 per cent, less than expected, at the global markets division, which specialises in securities trading. Mr Thiam saw this as a vindication of his refusal to cut deeper into the cost base of the investment bank.
NEW YORK , April 23, 2019 /PRNewswire/ -- Credit Suisse AG ("Credit Suisse") announced today that it will extend the Maturity Date of the FLGE ETNs (details in table below): ETN Name* Exchange ...
Credit Suisse has stopped underwriting Japan Housing Finance Agency’s residential mortgage-backed securities, in which it was active until the fiscal year ended March 31, and has also informed syndicates for Japanese regional government bond sales that it’s discontinuing such operations, the person said. The Japan market is an important part of its strategy to further expand its franchise in Asia Pacific, according to an emailed response by Credit Suisse to questions from Bloomberg.
The Swiss bank is owed about $3 million by Sanomi, who was a guarantor for a credit facility extended to one of his companies, Credit Suisse’s lawyer Andrew Brown said in written submissions to a London court last week. Three properties owned by Sanomi including apartments in Chelsea, west London, and Belgravia, in the heart of London’s diplomatic quarter, have already been identified as assets that may have to be forfeited if he loses.
Credit Suisse has agreed to take majority control of Chinese securities venture Credit Suisse Founder Securities Ltd (CSFS), boosting its stake to 51 percent from 33.3 percent via a capital injection, the Swiss bank said on Monday. Under the deal, the stake held by Credit Suisse's partner Founder Securities Co Ltd will fall to 49 percent. Credit Suisse did not say how much capital it planned to inject should regulators approve the deal.
ZURICH, April 15 (Reuters) - Credit Suisse will take majority control of Chinese securities venture Credit Suisse Founder Securities Ltd, boosting its stake to 51 percent from 33.3 percent via a capital ...
Credit Suisse is poised to take majority control of its Chinese investment-banking joint venture, the second major international lender to do so as the country opens up its financial sector to overseas competition. The Swiss bank has reached an agreement with partner Founder Securities to increase its stake in their joint venture to 51 per cent from 33.3 per cent, a previous limit for non-Chinese companies, by way of a capital injection of about SFr94m ($94m), according to statements from both parties on Monday. Credit Suisse follows local rival UBS, which won approval from regulators to take a controlling stake in its own joint venture in December.
TransPerfect CEO Phil Shawe claims one of his biggest rivals committed intellectual property fraud during an auction process three years ago.
The initial public offering of payment-service company Nexi SpA raised 2.01 billion euros ($2.3 billion), making it the biggest listing in Europe so far this year and the third major IPO of a payment-processing institution in the region in less than a year. A mix of existing and new Nexi shares were sold to more than 340 investors from around the world, including more than 100 Italian investors. Nexi, whose investors include Advent International, Bain Capital and Clessidra SGR, will have free float of 35.6 percent.
Is the Party Just Getting Started for Iron Ore Miners?(Continued from Prior Part)Credit Suisse As iron ore supply disruptions, at least from Vale (VALE), don’t look likely to go away easily, analysts have started another round of upgrades for iron
Credit Suisse Group AG on Thursday named veteran banker Yves-Alain Sommerhalder as head of its newly-created Asia Pacific trading solutions business, which seeks to use market expertise to sell products to wealth management clients. The launch of Asia trading solutions comes nearly two years after Credit Suisse set up international trading solutions that brings in elements of the bank's markets activities as well as its international wealth management and Swiss banking arms.