Credit Suisse Hits New Low as Investors Weigh Outflow Damage
(Bloomberg) — Credit Suisse Group AG fell to a fresh record low as investors weighed the impact of the massive outflows the bank reported this week and news that rivals in the key growth market of Asia are benefiting from the Swiss firm’s troubles.
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Shares of the lender declined as much as 5% in Zurich on Friday after Vontobel cut its price target and said the firm “urgently” needs to halt outflows in its core wealth management business. The stock has declined…