European markets open higher following UBS earnings; UBS up 6%

European markets opened higher Thursday after UBSThe pan-European Stoxx 600 was up 0.1% at the start of trading on the final day of the month, with most sectors trading in positive territory. Financial services led gains with a 1.2% uptick, while food and beverages dropped 0.5%.

UBS posted a second-quarter profit of $28.88 billion, well exceeding projections of $12.8 billion made by analysts polled by Reuters. Shares were up 6.3% as markets opened. The index closed slightly lower Wednesday as investors reacted to economic data out of Germany and Spain. Spain reported flash inflation up 2.6% year on year for August, in line with analyst expectations, while Germany reported a 13.2% drop in imports for the year to July, the sharpest drop since January 1987.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European markets set to open higher following UBS earningsEuropean markets are set to open higher as investors assess UBS earnings.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

'Pain trade': UBS CIO warns of bear trap as Chinese stocks riseAdrian Zuercher, a chief investment officer at UBS, also said there could be a 'tactical trade' in the coming weeks.
Source: CNBC - 🏆 12. / 72 Read more »

UBS Earnings Could Reveal Key Details about Credit Suisse AcquisitionInvestors will be looking for more transparency around how UBS is managing the integration of Credit Suisse, the former rival it acquired at a fire sale...
Source: MarketWatch - 🏆 3. / 97 Read more »