UBS (UBS), the bank that bought Credit Suisse for about $3 billion, fell 0.9% after being downgraded to Hold from Buy by Jefferies analysts. Activision Blizzard (ATVI) rose 5.9% after the UK Competition and Markets Authority said it no longer feared Microsoft (MSFT) would use its $68.7 billion deal to video game maker hooks Call … Read more
Citi economists said: “We have long debated our view that China can be a major growth hedge this year – if anything, the recent global banking strains may have bolstered this thesis. “ The People’s Bank of China’s decision to cut its reserve requirement ratio showed “assurance of political support amid global volatilities,” Citi economists … Read more
First Republic Bank worked overtime on Sunday to reassure customers it was safe to operate after the collapse of Silicon Valley Bank last week sparked fears of contagion in the banking sector. But its stock plunged nearly 50% ahead of Monday’s open despite attempts to reassure customers of the strength of its business. Early Sunday … Read more