Credit Suisse shares soar after £45bn central bank aid announced

(Seth Wenig/AP)

Credit Suisse’s shares soared by 30% on Thursday after it announced it will shore up its finances by borrowing up to £45 billion from the Swiss central bank, bolstering confidence as fears about the banking system moved from the US to Europe.

It was a massive swing from a day earlier when shares of Switzerland’s second-largest commercial bank plunged 30% on the SIX stock exchange after its biggest shareholder said it would not put more money into the Swiss lender.