MARKET WRAP: JSE muted as relative calm prevails
News of Credit Suisse lifeline steadies investors’ nerves, but analysts warn that further uncertainty and volatility is likely
16 March 2023 – 19:58
The JSE was little changed on Thursday as investors paused for breath after Credit Suisse was handed a lifeline, bringing a measure of calm to the markets.
Credit Suisse announced it secured $54bn from the Swiss National Bank to alleviate short-term liquidity issues, leading to a rebound in its shares after they plunged to a record low on Wednesday when the Saudi National Bank, Credit Suisse’s largest investor, said it would not provide additional assistance. ..