Credit Suisse’s move to borrow up to £44 billion from Switzerland’s central bank today led to a calmer session after yesterday’s turmoil for European banking stocks.
The FTSE 100 index slumped 3.8% by last night but stood 1% higher today after the troubled bank said it was taking “decisive action to pre-emptively strengthen liquidity”.
A busy session for corporate results included figures from Rentokil Initial, Savills and Deliveroo, with the food delivery firm reporting a reduced loss of £294 million.
