Major European indices rebound from earlier declines | Forexlive

The major European indices rebounded from earlier losses and are closing solidly higher on the day:

German DAX was down -309.80 points but is closing up 158.81 points or 1.08%
Frances CAC traded down -129.20 points at its lows but is closing up 87.74 points or 1.27%
UK’s FTSE 100 traded down -128.59 points at its lows, but is closing up 68.43 points or 0.93%
Spain’s Ibex traded down -217.21 points, but is closing up 111.28 points or 1.28%
Italy’s FTSE MIB traders lows 24,751 but is trading at 25,866.40 up 371.86 points or 1.46%

UBS shares are trading at $17.33 up 1.26%. Other European banks increased with Commerz Bancorp up 1.5% and BNP Paribas up 1.88%.

Credit Suisse closed down -55.74% after UBS came in to takeover the bank. The decline was the largest on record

In other banks of interest, First Republic shares are recovering from new all-time lows at $11.52. The price is currently trading at $15.05 that’s down $-7.98 or -34.65%

ECB’s Lagarde is on the wire’s saying that