High Noon for Credit Suisse as European Bank Earnings Awaited

Europe’s top investment banks take center stage this week in an earnings season that’s been fraught with the fallout from the war in Ukraine, runaway inflation and hawkish central banks. The European Central Bank is priming another hefty hike in interest rates this week as investors’ attention increasingly switches to how high it will eventually push. UBS AG kicks off on Tuesday, followed by Deutsche Bank AG on Wednesday. Barclays Plc’s results will be closely followed as the political turmoil in the UK continues. Rishi Sunak appeared to be closing in on becoming the UK’s next prime minister after former premier Boris Johnson pulled out of the contest late on Sunday. The most hotly awaited announcement is a major overhaul by Credit Suisse Group AG on Thursday. Aside from finance, Volkswagen AG is set to cap off the week, as analysts ponder whether its profit guidance can withstand supply-chain headwinds.

Highlights next week: