Forex Analysis & Reviews: 23.11.2022 - Credit Suisse to attract...

Live Chat

InstaForex - Official partner of Dragon Racing

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Become Trader

Account Opening

See also

Trading Conditions

Forex Analytics

Charts

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

How to start trading

Useful information

Training and recordings

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

PAMM System

ForexCopy System

Passive investments

OYS account

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Become Partner

Main Page

Partner Area

Advantages for Affiliates

Registration

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

Contests

Events

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Full details

Forums

We are in social networks

Forex humour

Forex Portal

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

Learn More

History

Why Choose Us

InstaSport

Regulation

Company News

Awards

InstaForex Stars

InstaForex Offline

Headquarters

Key documents

Social Responsibility

InstaForex Loprais Team - Official participant of the Dakar rally

23.11.2022 03:11 PM

Credit Suisse to attract $4.2 billion and Manchester United FC may be sold

While the Fed is raising interest rates, allowing the US banking sector to feel better than ever, Credit Suisse shareholders approved a capital raising of 4 billion Swiss francs - about $4.2 billion - to fund a massive strategic overhaul of the struggling company.

Credit Suisse's capital-raising plan is divided into two parts. The first, backed by 92% of shareholders, provides shares to new investors, including the National Bank of Saudi Arabia, through a private placement. As part of the new equity offering, Saudi Arabia's regulator will acquire 9.9% of Credit Suisse, making it the bank's largest shareholder. The second capital increase involves the issuance of new shares with preemptive rights for existing shareholders, with 98% voting in favor.

Credit Suisse Chairman Axel Lehmann said that the vote confirmed confidence in the strategy presented in October, and the bank was fully focused on implementing the priorities to lay the foundation for future growth for the company.

Premarket

During premarket trading, shares of Manchester United Plc jumped by nearly 10.0% after the owners of the English soccer club said they were exploring options to sell the club.

Tesla Inc. shares returned to the upside after Citigroup Inc. upgraded the electric-car maker's rating from "sell" to "neutral." Shares of the Elon Musk-led company have already fallen by 52% this year to $167.87, while analysts are forecasting a 12-month average price of $302. Apparently their dreams are unlikely to come true. This year's downturn has brought Tesla's market capitalization to just $530 billion from the trillion-dollar market cap in April.

HP stocks added 3.46% during premarket trading, following yesterday's report that beat expectations for last quarter's earnings. HP plans to lay off between 4,000 and 6,000 employees worldwide over the next three years as part of its cost optimization efforts.

Autodesk stocks recovered during yesterday's regular session but today collapsed again by more than 9% after the software company released its revenue forecast for the fourth quarter, which fell short of expectations. Although for the third quarter Autodesk reported quarterly results that matched forecasts.

As for the S&P 500 index, yesterday's surge gives confidence for the future. Bulls need to protect the support of $4,000. As long as the index is trading above this level, the demand for risky assets is likely to persist. This may strengthen the trading instrument and return the level of $4,038 under control. If the price breaks through $4,064, the upward correction with a target at $4,091 may continue. The next target is located in the area of $4,116. If the price declines, bulls will have to protect the psychologically important support of $4,000. If this level is pierced, the price may be pushed down to $3,968, opening the way to a new support of $3,942.

You have already liked this post today

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.