Business & Investment

European stocks rise an inch as Reuters profits surge on UBS

© Reuters.German stock index DAX graph is drawn on the Frankfurt Stock Exchange

(Reuters)-Swiss wealth manager UBS announced a surge in quarterly net income, which led to a rise in European stocks on Tuesday after two declines, but profits were up due to long-term lockdowns and concerns over US stimulus. Limited.

The Pan-European Index rose 0.2% by 0808 GMT after closing at a low of more than two weeks in the previous session.

UBS increased 3.3% as high levels of customer activity helped the world’s largest wealth managers record a 137% increase in net income.

Financial services index rose 1%, and Swedish buyout group EQT (NYSE :) surged 9.7% after signing an agreement to acquire global real estate investment manager Exeter Property Group for $ 1.87 billion. ..

Italy hit a month-long low, and Giuseppe Conte will resign late Tuesday, hoping that President Sergio Mattarella will be empowered to establish a new government with broader support in parliament. I am.

Swiss pharmaceutical company Novartis fell 3.2% in the fourth quarter after sales and profits fell short of analysts’ expectations.

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European stocks rise an inch as Reuters profits surge on UBS European stocks rise an inch as Reuters profits surge on UBS

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