Svb: bankruptcy proceedings started. And the new thud of Credit Suisse extinguishes the enthusiasm of the Stock Exchanges. Piazza Affari turns negative

SVB Financial Group initiates Chapter 11 assisted bankruptcy proceedings for a supervised reorganisation. The request was filed in a New York court and aims to “preserve value”. This can be read in a note, which states that Svb Financial Group is no longer affiliated with Silicon Valley Bank.
The new collapse of Credit Suisse extinguishes the enthusiasm of the Stock Exchanges.
Meanwhile, the main European stock exchanges are down with negative US futures, reversing the course of a day that started on the upside with the reassurances on Credit Suisse. Just the Swiss banking giant extends the decline (-8.5% 1.84 francs) on the Zurich market (-0.5%) after, according to the Bloomberg agency, the prospectus for the 50 billion intervention by the Central Bank Switzerland ended up in the hands of investors. Minus signs also for Milan (-0.3%), Frankfurt (-0.1%), Paris (-0.2%) and Madrid (-0.46%), while London (-0.03%) appears little move. The banks reduce the rise, from Banco Bpm (+1.27%), Intesa (+0.29%), Unicredit (+0.06%), while Mps slips (-3.33%). Minus signs also for HSBC (-1.38%), Lloyds (-0.97%) and Credit Agricole (-0.6%). Also down in Zurich was UBS (-0.84%), which according to the Bloomberg agency is against a merger with its rival Credit Suisse. Energy performed well with Eni (+1.05%), Saipem (+1.65%) and Tenaris (+1.49%), together with BP (+1.37%), Shell (+1.54% ) and TotalEnergies (+1.05%), after the opinion of Morgan Stanley analysts on the sector