Credit Suisse shares likely to continue selling off

Shares of Credit Suisse could fall as early as Friday after the bank slipped on Thursday, and the Swiss regulator said it was monitoring the situation closely.

The bank’s shares lost 1.1% in premarket trading in the Swiss Market index on Friday.

Shares of Credit Suisse lost 14.7% on Thursday to 2.77 francs, valuing the lender at 11.1 billion Swiss francs.

Credit Suisse also said on Thursday that further losses should be expected this year as customers pulled billions out of the bank amid scandals and blunders.

 

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Finma, the regulator of independent financial markets in Switzerland, said that although the volume of available liquid assets in the bank allowed it to meet its obligations in a timely manner and without losses, the regulator closely monitors banks in such situations.

On Friday, a number of banks lowered their outlook on Credit Suisse shares. Morgan Stanley, Barclays, and RBS lowered their target prices, negatively affecting Credit Suisse.