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

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.

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European markets open higher following UBS earnings; UBS up 6%European markets opened higher as investors assess UBS earnings.
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European markets set to open higher following UBS earningsEuropean markets are set to open higher as investors assess UBS earnings.
แหล่ง: NBCPhiladelphia - 🏆 569. / 51 อ่านเพิ่มเติม »

'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.
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »

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...
แหล่ง: MarketWatch - 🏆 3. / 97 อ่านเพิ่มเติม »