This works in Austria and Switzerland: High Noon is on October 27th for this share
Things have been anything but smooth at Credit Suisse in the past few quarters (DER AKTIONÄR reported). At the end of July, the major Swiss bank announced that they wanted to put everything to the test. Now the Swiss are speaking up again in the form of an interim feedback, which investors appreciate in view of the price increase.
Credit Suisse sees itself on course with the ongoing strategy review. Good progress is being made with the strategic review, including possible access and sale of assets, it said in a statement Monday. The Board of Directors and management would consider alternatives that went beyond last year’s strategy review. A number of strategic initiatives are currently being implemented, including potential sales.
As previously announced, the bank will provide information on the results of the strategy review when it publishes its third-quarter figures on October 27.
Credit Suisse had already announced the strategy update at the end of July together with the replacement of the CEO. The rumor mill has been churning ever since. In the past few days, there has been speculation about a wide variety of strategy adjustments – including a possible renaming of the US investment bank as “First Boston”, major job cuts or a split of the investment bank into three parts. However, the bank had denied that the investment bank would exit its US business.
The share, which is listed in the SMI, gained around 0.8 percent on Monday to 4.10 Swiss francs (CHF).
CreditSuisse
(WKN: 876800)
Since Creditsite Suisse has not announced anything concrete, it remains exciting. Whether the Swiss will succeed in turning around (after a few negative quarters) in the difficult market environment is anything but clear. Therefore, at best, very risk-aware investors with a manageable amount should make these bets.