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UBS-Credit Suisse Deal to Lift Crisis-Hit Bank ETFs - Yahoo Finance

Switzerland’s biggest bank, UBS Group UBS, has agreed to acquire the crisis-hit Credit Suisse Group CS in an emergency rescue deal engineered by Swiss authorities to prevent the meltdown spreading through the global financial system (read: How to Profit From Banking Carnage With Inverse ETFs).Following the news, shares of CS jumped nearly 7% in after-market hours on Mar 17 after suffering the biggest weekly drop of 25.5% since March 2020. UBS shares also climbed 5.2% after market. This would provide a boost to bank ETFs, which were badly hit by the Credit Suisse crisis. iShares U.S. Regional Banks ETF IAT, Invesco KBW Bank ETF KBWB, SPDR S&P Regional Banking ETF KRE, First Trust Nasdaq Bank ETF FTXO ...

Yahoo     Mar 20, 2023