Fearless Girl statue in front of the New York Stock Exchange
(Photo: Unsplash)
Frankfurt The emergency takeover of the ailing US regional bank Bank First Republic by the US market leader JPMorgan caused a mixed response on the US stock exchanges on Monday. While shares in JPMorgan and other major banks rose, shares in smaller institutions fell.
The Dow Jones index of standard values rose in trading by 0.3 percent to 34,185 points. The broader S&P 500 was up 0.2 percent at 4177 points. The index of the technology exchange Nasdaq tended little changed at 12,224 places.
JPMorgan expands its portfolio with the takeover of significant parts of the assets of the regional bank First Republic, which was already the third bank to tumble after the massive withdrawal of customer deposits within two months. The San Francisco-based First Republic itself was placed under receivership by California regulators and the state Deposit Insurance Fund.
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