World markets set for relief after Credit Suisse buyout, central banks action

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Reuters UK

By Dhara Ranasinghe, Amanda Cooper and Davide Barbuscia LONDON (Reuters) – Financial markets were poised for relief on Monday after UBS Group AG agreed to buy Credit Suisse Group AG in a rescue orchestrated by the state, while major central banks announced a co-ordinated move to shore up liquidity in the financial system. In an early sign that risk appetite was set for a bounce, the euro, sterling and the Australian dollar all edged up, data from trading platform EBS and Reuters Dealing showed. Crypto currency bitcoin rose over 5%. UBS will buy rival Swiss bank Credit Suisse for 3 billion Swis…

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