Credit Suisse Shares Jump As Private Banking Delivers Strong Growth
May, 11th 08:05
Credit Suisse Group AG began to reverse its free-falling share price on Tuesday after a solid performance from its private bank lifted first-quarter results above the Swiss group’s grim guidance. Switzerland’s second-largest bank reported better than expected margins and inflows at its private bank, which is the key beneficiary of a restructuring designed to make the group’s earnings less volatile. On the hourly chart, the stock closed up at 14.11. ADX is 33.10, indicating a strong uptrend. CS seems set to climb significantly higher from the current levels.
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