![]() ![]() Shares in several US regional banks have suffered deep losses this week as contagion fears intensified following J P Morgan’s rescue of Californian lender First Republic. It came after concerns about the health of US regional banks deepened as PacWest confirmed that it was holding talks with potential investors about strategic options, which reportedly included a possible sale or capital raise. It marks a significant recovery for the Beverly Hills-based lender, following a six-day selloff that saw its shares tumble over 70pc, and 51pc on Thursday alone, its worst one-day loss on record. PacWest's share price increased by as much as 88pc today, marking its biggest intraday gain ever. US lender PacWest has led a rebound US regional banks stocks after investors cautioned that some of this week’s bruising sell-off was overdone. ![]()
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