2.31%C 7.40 5.37%QQQQ 27.81 2.83%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
ZURICH, Switzerland - Shares in Swiss bank UBS sank 5.5 percent Monday on fears that it may announce more write-downs for the second quarter.
| UBS | 11.79 |  -0.41 |
Swiss newspaper reports over the weekend said the bank would not issue a profit warning for its second quarter, indirectly confirming market expectations that UBS AG will report a net loss of 1 to 5 billion francs ($980 million-$4.9 billion) for the second quarter on Aug. 12.
Switzerland's biggest bank has been badly affected by the U.S. subprime crisis, notching up losses of $37.4 billion over the past 10 months, during which its share price more than halved.
UBS shares treated at 21.16 Swiss francs ($20.80) Monday.
Shares plunged in May when the bank announced a second capital increase, the most recent for $15.58 billion.
Late last year, UBS announced it had raised billions through share sales to sovereign wealth funds in Singapore and the Middle East. Government of Singapore Investment Corp. injected $9.75 billion, while an undisclosed investor in the Middle East purchased a $1.77 billion stake.
UBS American depository receipts fell 93 cents, or 4.3 percent, to $20.77.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
Baldwin Linguas:
Translations Interpreting Localization:
English French Portuguese Spanish
Get your next web design project done with our los angeles web design team - Best web design with great price.
Building your business and corporate credit for your small business.
Partners   
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
