PacWest Bancorp and Western Alliance Bancorp each slumped more than 25% Tuesday, leading a renewed selloff in regional lenders as investors continued to gauge the health of the industry after the second-largest US bank failure ever.
Even as First Republic Bank has sunk deeper into crisis this week falling as much as 49% on one day alone shares of many of its peers, including names like PacWest Bancorp and UMB Financial, have mostly held steady.
Australian shares open 0.4pc higher; Coles quarterly sales rise 6.5pc; Silver Lake expects sales at bottom end of guidance; Megaport sees earnings ‘materially above’ consensus. Follow updates here.
Even as First Republic Bank has sunk deeper into crisis this week falling as much as 49% on one day alone shares of many of its peers, including names like PacWest Bancorp and UMB Financial, have mostly held steady.