The KBW Bank Index, a proxy for banks, jumped 1.8%. The latest banking crisis started after two U.S. lenders, Silicon Valley Bank and Signature Bank, collapsed this month, while First Republic Bank has so far failed to shore up investor confidence despite having received emergency support. Losses in European bank shares also recovered, climbing 1.3% after initially dropping 6%, as investors digested the support efforts and the pace at which they had come. Credit Suisse's own shares slumped 55.7% and those of its acquirer UBS jumped 1.3% after tumbling nearly 13% earlier in the session. The broader European STOXX 600 index also managed to make it into positive territory to be up 0.98%. "Credit Suisse is our Lehman moment in Europe, but we recognise that and we are not going to make the same mistake," Close Brothers Asset Management Chief Investment Officer Robert Alster said of the speedy action by authorities over the weekend.