Investor anxiety over Credit Suisse has sent its shares tumbling over recent days, but short sellers appear to be eyeing another European bank, data shows.
Investor anxiety over Credit Suisse has sent its shares tumbling over recent days , but short sellers appear to be eyeing another European bank, data shows. Paris-headquartered BNP Paribas was the most shorted European banking stock as of Monday, with a total of $1.68 billion in bets against the bank's shares, according to data from S3 Partners. Short-sellers profit when stocks fall.
Over the year to date, Credit Suisse shares are down over 55%. The Financial Times reported Monday that the Swiss bank's executives were in talks with its major investors to reassure them amid rising concerns over the lender's financial health. In a statement on Monday, Credit Suisse told CNBC that it will provide an update on its strategy review when the bank releases its third-quarter results on Oct. 27.
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