Tuesday, January 21, 2020

UBS Q4 Profit Climbs, But FY19 Profit Weak; Cuts Targets; Stock Dips

Swiss banking giant UBS Group AG reported Tuesday significantly higher profit in its fourth quarter, and its best fourth-quarter adjusted profit before tax since 2010. Meanwhile, fiscal 2019 profit declined and the company trimmed its mid-term targets. UBS announced an agreement to sell a 51.2 percent stake in UBS Fondcenter to Clearstream. UBS' shares were losing around 5 percent in Swiss trading

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