Morgan Stanley holds 6.87 per cent of Credit Suisse

ZURICH: US investment bank Morgan Stanley has built up a 6.87 percent stake in Credit Suisse Group, the Swiss bank said Monday.

The shares and derivatives are held by several subsidiaries of Morgan Stanley, Credit Suisse said.

Shares in Switzerland's No. 2 bank plunged in line with other financial stocks last week, but Credit Suisse led a rebound rally on the Zurich exchange Monday that saw the value of its share rise 27.9 percent to 43.82 Swiss francs (US$38.39) in a single session.