: European stock futures rise as Credit Suisse gets lifeline, Saudi National Bank head says ‘everything is fine’


European stock futures rose early Thursday, a day after chaos swept across global markets due to a sharp fall in the shares of Credit Suisse CS, -13.94% CSGN, +23.34%. “If you look at what even the Swiss National Bank said yesterday with all the ratios, they’re all sound, everything is fine,..I don’t think they’ll need more capital,” Ammar Al Khudairy, chairman of Saudi National Bank, the top shareholder in the Swiss bank, told CNBC in an interview on Thursday. Those comments came a day after he told Bloomberg that they won’t buy more shares of the lender, sparking a selloff that spread from Credit Suisse shares across Europe and U.S. markets, which have already been stressed by the failure of three U.S. banks. Late Wednesday, Credit Suisse said it would borrow up to $54 billion from the Swiss central bank, calling it “decisive action” to calm investors. Investors will be watching closely how European stock and bond markets trade in light of the fresh developments, as a European Central Bank meeting also looms. German DAX DAX, +0.50% futures rose 1.4%, while those for the CAC 40 PX1, +0.81% and FTSE 100 UKX, +0.93% rose 1.2% and 1%, respectively. Credit Suisse shares closed at a record low under 2 euros on Wednesday and European bond yields plunged, with U.S. equities DJIA, -0.87% SPX, -0.70% COMP, +0.05% closing lower, but well off session lows. U.S. stock futures were trading flat to lower ahead of the market’s open later.

This article was originally published by Marketwatch.com. Read the original article here.

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