Credit Suisse shares jump after saying it will borrow from SNB and buy back debt

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Credit Suisse surge in opening trade

Credit Suisse CSGN, +22.51% shares jumped in opening trade, recently up over 30% after saying it intended to exercise its option to borrow from the Swiss National Bank up to 50 billion francs and buying back 3 billion francs worth of debt.

European banks also rallied at the start of trade.
 

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Those people who bought puts yesterday are pissed.

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