Friday, July 29, 2016

UBS Q2 Profit Down; Difficult Conditions Continue; Yet Stock Rises

Swiss banking giant UBS Group AG reported Friday a 14 percent decline in second quarter profit with weakness in net interest income. Looking ahead, the company said the difficult conditions continue to persist, yet the firm is well positioned to benefit from even a moderate improvement in conditions. UBS shares were gaining around 3 percent in the morning trading in Zurich.

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