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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
  Report
Delayed Swiss Exchange  -  11:30:28 2023-02-02 am EST
3.352 CHF   +4.49%
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Credit Suisse shares hit record low as subscription rights dumped

11/29/2022 | 04:45am EST
FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Zurich

MILAN (Reuters) - Shares in Credit Suisse tumbled to a fresh lifetime low below 3 Swiss francs on Tuesday as investors dumped rights to subscribe to new shares in the loss-making lender.

By 0937 GMT, Credit Suisse shares fell 3.3% to 2.912 Swiss francs as the subscription rights tumbled 22% to 0.112 on the second day of trading on the Swiss bourse.

The capital increase, which was approved by investors on Wednesday last week, is intended to fund the embattled bank's turnaround plan, an attempt to recover from the biggest crisis in its 166-year history.

Credit Suisse's five-year default swaps, a form of insurance for bondholders, blew out to a new record high of 403 basis points, according to data from S&P Market Intelligence.

(Reporting by Danilo Masoni; Editing by Amanda Cooper)


ę Reuters 2022
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Analyst Recommendations on CREDIT SUISSE GROUP AG
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Financials
Sales 2022 15 276 M 16 777 M 16 777 M
Net income 2022 -6 708 M -7 367 M -7 367 M
Net Debt 2022 - - -
P/E ratio 2022 -1,62x
Yield 2022 1,32%
Capitalization 13 301 M 14 608 M 14 608 M
Capi. / Sales 2022 0,87x
Capi. / Sales 2023 0,82x
Nbr of Employees 51 680
Free-Float 99,0%
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Technical analysis trends CREDIT SUISSE GROUP AG
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 3,35 CHF
Average target price 4,09 CHF
Spread / Average Target 22,0%
EPS Revisions
Managers and Directors
Ulrich K÷rner Group Chief Executive Officer
Dixit Joshi Chief Financial Officer
Axel P. Lehmann Chairman
Joanne Hannaford Chief Technology Officer
Francesca Jane McDonagh Chief Operating Officer
Sector and Competitors