Stock Markets rebound after Credit Suisse secures massive funding deal
By Annabelle Liang & Daniel Thomas BBC News European markets opened higher on Thursday after troubled bank Credit Suisse secured a £45bn funding deal. Stock markets across the UK , France and Germany rebounded while Credit Suisse's share price surged by 40%. Overnight Credit Suisse said it would borrow up to 50bn francs (£44.5bn) from Switzerland's central bank to shore up its finances. Fears that Credit Suisse's issues could cause a wider banking crisis had sent stock markets tumbling on Wednesday. The main stock market indexes in London, Frankfurt and Paris opened as much as 1.7% higher. Credit Suisse had sought help from Swiss National Bank after revealing it had found "material weakness" in its financial reporting. It led its biggest shareholder, Saudi National Bank, declaring that it would not buy more shares in the bank, sparking panic among other investors. Switzerland's central bank said Credit Suisse had the money it needed but stressed ...