You’d suppose one of many world’s largest banks being saved from collapse could be optimistic news, proper? Well, not essentially.
After every week of strife that despatched tremors via the worldwide monetary markets, Swiss banking big Credit Suisse was rescued by rival UBS in a $4.7 billion deal.
But the ASX was nonetheless down on Monday, though there are hopes it’s going to rally immediately.
Shares in Credit Suisse additionally plunged regardless of the bailout, however US and European markets rallied all through the day in a optimistic signal for Australia.
“The ASX finished in the red, but investors are hoping the worst of the chaos is over,” stated Grafa’s Sarah Hughan on The West Australian’s new finance present Trading Up.
Also on Trading Up, why the banking disaster has proved a gold mine for some traders, how cyber criminals have hit Latitude Financial onerous and a darkish horse that’s motoring alongside properly.
WATCH THE LATEST EPISODE IN THE VIDEO PLAYER ABOVE
Source: www.perthnow.com.au
