Credit Suisse shares shed early gains, tumble 4%


ZURICH (Reuters) -Credit Suisse shares were down 4% at 0910 GMT on Friday having opened 1.8% higher in volatile trade.

The stock, which plunged to 1.55 Swiss francs on Wednesday, traded at 1.94 francs from Thursday’s closing price of 2.022 francs.

On Thursday the stock recovered 19% of its value after a 25% loss on Wednesday triggered by its largest investor saying it would not be able to increase its stake.

The plunge forced Credit Suisse to seek an emergency liquidity line from the Swiss central bank.

The head of the its Swiss business said late on Thursday the funding would allow Credit Suisse to continue its revamp, although it could take time to win back client confidence.


(Reporting by Alexandra Hudson; editing by Rachel More and Jason Neely)