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Credit Suisse Extends Rally as Bidders Line Up for Key Unit

  • Stock has risen 18% since plunging to a record low on Sept. 29
  • Pimco said to be among bidders for securitized products unit

Credit Suisse Group AG shares extended their rally to a third day after Bloomberg News reported that bidders are lining up for the bank’s securitized products unit, a key pillar in the downsizing of its investment banking operations.

The stock rose as much as 3.7% to 4.61 Swiss francs and has rebounded 18% since plunging to a record closing low on Sept. 29. It’s still down 50% year-to-date.