Fallout from SVB’s collapse is unlikely to stop interest rates from rising, analyst says
April LaRusse, head of investment specialists at Insight Investment, says there’s still “far too much” inflation.
Banks now incredibly cheap, but see no massive upside amid low growth, argues CIO
Patrick Armstrong, chief investment officer at Plurimi Wealth LLP, discusses the latest in the SVB fallout, and where the Fed and investors alike could go from here.
Investors must assess banks’ net interest margins in wake of SVB fallout, says investment director
Russ Mould, investment director at AJ Bell, weighs in on the unravelling of Silicon Valley Bank.
European banks at the bottom of Stoxx 600 index; BAWAG down 9%, Commerzbank down 8%
British bank HSBC to acquire Silicon Valley Bank UK
British bank HSBC will acquire Silicon Valley Bank UK Limited, according to a statement by the Bank of England.
The Bank of England said the action was taken “to stabilise SVBUK, ensuring the continuity of banking services, minimising disruption to the UK technology sector and supporting confidence in the financial system.”
Silicon Valley Bank caused turmoil for the banking sector and markets more widely when it surprised investors on Wednesday with news it needed to raise $2.25 billion to shore up its balance sheet, and that it had sold all its bonds at a $1.8 billion loss.
The bank was then closed by regulators after customers withdrew $42 billion of deposits by the end of Thursday.
HSBC said it will buy SVBUK for £1.
— Hannah Ward-Glenton and Matt Rosoff contributed to this report.
CNBC Pro: Shares of this little-known global chip firm are set to rise by 50%, Barclays says
Shares of a U.K.-based technology company that designs custom chips and semiconductors are expected to rise by more than 50% over the next 12 months, according to Barclays Equity Research.
The investment bank said a rapidly growing data center space would “drive sales and profit growth faster than other company in our coverage.”
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