European markets open higher following UBS earnings; Swiss bank up 5%

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 59%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

European markets opened higher as investors assess UBS earnings.

UBS said the result primarily reflected $28.93 billion in negative goodwill on the Credit Suisse acquisition. Underlying profit before tax, which excludes negative goodwill, integration-related expenses and acquisition costs, came in at $1.1 billion.

The group also announced that Credit Suisse's stalwart domestic banking unit will be fully integrated into UBS, with a merging of legal entities expected to close in 2024. The fate of Credit Suisse's flagship Swiss bank, a key profit center for the group and the only division still generating positive earnings in 2022, was a focal point of the acquisition.

The emergency rescue deal that saw UBS purchase Credit Suisse at a heavily discounted 3 billion Swiss francs was mediated by Swiss authorities over the course of a weekend in March.CNBC Pro: Look beyond the 'Magnificent Seven' tech stocks, analyst says — and names 5 top picks When it comes to picking stocks, Hannah Gooch-Peters of asset management firm Sanlam Investments UK avoids chasing trends.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 319. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

European markets open higher following UBS earnings; UBS up 6%European markets opened higher as investors assess UBS earnings.
Källa: CNBC - 🏆 12. / 72 Läs mer »

European markets open higher following UBS earnings; UBS up 5%European markets opened higher as investors assess UBS earnings.
Källa: NBCLA - 🏆 319. / 59 Läs mer »

European markets set to open higher following UBS earningsEuropean markets are set to open higher as investors assess UBS earnings.
Källa: NBCPhiladelphia - 🏆 569. / 51 Läs mer »