A nervous day for European share markets ahead of the first day of trading since the purchase of Credit Suisse.

Markets started the day sharply lower, but have recovered slightly, with the London Stock Exchange closing on around 0.9 percent.

In Switzerland, Credit Suisse's new owner UBS also closed on 1.5 percent higher.

Europe correspondent Catherine Field told Mike Hosking the central banks are adamant it's not a repeat of 2008.

She says the banks are saying it might look bad, and it's not good that UBS has had to take over Credit Suisse, but they're not in a recession.

LISTEN ABOVE

A nervous day for European share markets ahead of the first day of trading since the purchase of Credit Suisse.
Markets started the day sharply lower, but have recovered slightly, with the London Stock Exchange closing on around 0.9 percent.
In Switzerland, Credit Suisse's new owner UBS also closed on 1.5 percent higher.
Europe correspondent Catherine Field told Mike Hosking the central banks are adamant it's not a repeat of 2008.
She says the banks are saying it might look bad, and it's not good that UBS has had to take over Credit Suisse, but they're not in a recession.
LISTEN ABOVE

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

Advertisement