On Monday, European markets fluctuated, with the pan-European Stoxx 600 index lower in the first hours of trade before moving into positive territory. Even banks reversed earlier sharp losses to trade 0.3% higher.
UBS agreed on Sunday to buy rival Credit Suisse for 3 billion Swiss francs ($3.2 billion) in an emergency rescue deal. The combined bank will have $5 trillion of invested assets, according to UBS. Credit Suisse shares plunged 54% on Monday at one point, while UBS climbed from losses to a 3.8% gain.
Credit Suisse shares were choppy on Tuesday morning, at one point turning cautiously positive, but was down 0.8% mid-morning. UBS was 3.7% higher.
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