Shares rallied in London on Thursday after the Swiss authorities launched an emergency £45 billion rescue of one of its biggest banks to avert a global financial crisis.
The move to bail-out stricken Credit Suisse came in the early hours after days of turmoil on the global financial markets that was threatening to spiral into a full-blown crash. Europe’s 16th biggest bank said it would have access to 50 billion Swiss francs (£44.6 billion) of funding from the Swiss National Bank to shore up its balance sheet.
