KEY POINTS
  • Shares of Credit Suisse surged higher Thursday, rebounding from a fresh all-time low after the beleaguered lender received central bank support to shore up its finances.
  • The abrupt loss of confidence in Credit Suisse, which comes as fears about the health of the banking system spread from the U.S. to Europe, has prompted some to question the "true" worth of Credit Suisse's share price.
  • "The weakest links are cracking and that's just happening, and that was entirely predictable — and this will not be the last one," Beat Wittmann, chairman of Switzerland's Porta Advisors, told CNBC's "Squawk Box Europe" on Thursday.

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Shares of Credit Suisse surged Thursday, rebounding from a fresh all-time low after the beleaguered lender announced it would tap central bank support to shore up its finances.

Switzerland's second-largest bank said it would borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank, providing a moment of relief for investors after the Zurich-headquartered firm led Europe's banking sector on a wild ride lower during the previous session.

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