Banks recover poise

London stocks have rebounded in early trade on Thursday, following a significant sell-off in the previous session. Bank shares, in particular, have been on the rise after Credit Suisse secured a $54bn loan from the Swiss National Bank.

The FTSE 100 climbed by 0.9% to 7,409.47 as of 0845 GMT, after a huge drop of 3.8% on Wednesday. Credit Suisse, which saw its shares plummet by over 40% on Wednesday, announced that it will offer a cash tender for ten US dollar-denominated senior debt securities, as well as for four Euro-denominated senior debt securities.

CEO Ulrich Koerner said the move was a demonstration of the company's efforts to strengthen itself amid ongoing strategic transformation. Meanwhile, Saudi National Bank, Credit Suisse's largest shareholder, has said that it will not provide the bank with further financial support. Reports suggest that the panic may have been unwarranted, as there were no discussions with Credit Suisse about providing assistance.

The emergency funds from the Swiss National Bank have helped restore a measure of stability to global markets, with the S&P 500 regaining ground. However, nerves remain frayed, and this was evident during trade in Asia.

Rentokil, OSB, Bridgepoint, and Helios were among the companies that rallied after releasing their earnings, while Savills reported a fall in annual profits and expects a challenging first half of the current year.

Centamin's full-year profits rose 11% to $171m, driven by a significant increase in production, but the gold miner's shares lost their shine.

NatWest, Segro, Crest Nicholson, Dunelm, Anglo American, Spirent Communications, and Ferguson were all trading without entitlement to the dividend. Investors are now looking ahead to the latest policy announcement from the European Central Bank at 1315 GMT.