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UBS on track for biggest gain since Mar 2020 post Credit Suisse takeover

UBS Group AG jumped as much as 10%, on track for its biggest gain since March 2020, as investor optimism about the takeover of its largest rival gathered pace

Photo: Reuters
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Photo: Reuters

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By Thyagaraju Adinarayan and Allegra Catelli

UBS Group AG jumped as much as 10%, on track for its biggest gain since March 2020, as investor optimism about the takeover of its largest rival gathered pace. 
 
The Swiss firm led European banking stocks higher as fears around the stability of the finance sector eased after UBS’s emergency acquisition of Credit Suisse Group AG. UBS is poised to add almost 6.6 billion Swiss francs ($7.1 billion) to its market value since the historic deal was announced late Sunday.

The government-brokered, 3 billion franc rescue was intended to put an end to a

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First Published: Mar 21 2023 | 9:59 PM IST

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