Credit Suisse shares CH:CSGN dropped 72% in opening trade, after agreeing to be bought by rival UBS in a deal underwritten by Swiss authorities. The steep share price drop came as Credit Suisse agreed to a discount, as well as the pressure for the drop in the value of UBS CH:UBSG shares. The Euro Stoxx banks index XX:SX7E, which doesn’t include UBS or Credit Suisse, fell 5%.
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