34 minutes ago
European markets opened with a fall
European stock markets opened with losses on Friday, according to data from Ig.com.
The FTSE 100 closed down 49 points at 7,451. France’s CAC 40 closed down 48 points at 7,086, Germany’s DAX down 72 points at 15,137 and Italy’s MIB closed down 155 points at 25,792.
-Jenny Reid
8 hours ago
CNBC Pro: Wall Street downgrades European banks and designates shares to buy “in case markets turn sour”
Wall Street is downgrading European banks after an emergency merger of two large Swiss banks sparked tensions in the region.
Two Investments also upgraded another sector and named a dozen stocks “to watch the market turn sour.”
CNBC Pro subscribers can read more here.
Ganesh Rao
8 hours ago
CNBC Pro: Why a fund manager never owns a bank stock — and reveals what he looks for instead
Some investors are pulling back into bank shares after last week’s selloff, but fund manager Ian Mortimer is clearly bullish.
In fact, he has never owned bank stock in any of his funds. He revealed why on CNBC Pro Talks.
Pro subscribers can read more here.
12 hours ago
Treasury Secretary Yellen says emergency actions of backstop banks can be used again if needed
Treasury Secretary Janet Yellen said Thursday that federal emergency actions used to backstop customers of Silicon Valley Bank and Signature Bank could be used again if necessary.
In written testimony before the House Appropriations Subcommittee, Yellen said, “We have used critical tools to act quickly to contain infections. And they are tools we can use again.”
“The strong actions we’ve taken ensure that Americans’ deposits are safe,” he said. “Certainly, we stand ready to take additional action if warranted.”
His comments come as regulators aim to reassure customers and investors amid a banking crisis fueled by the closure of a Silicon Valley bank.
– Alex Haring, Christina Wilkie
Source: www.cnbc.com
