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Morgan Stanley profit jumps 40 percent on trading boost

Morgan Stanley profit jumps 40 percent on trading boost
админ
18/04/2018

morgan stanley 300x200 - Morgan Stanley profit jumps 40 percent on trading boost

Morgan Stanley reported a 40 percent jump in quarterly profit on Wednesday, as its trading business got a boost from increased market volatility.

The bank’s net income applicable to common shareholders rose to $2.58 billion in the first quarter ended March 31 from $1.84 billion a year earlier.

On a per-share basis, the company’s earnings rose to $1.45 from $1.

Analysts on average were expecting a profit of $1.25 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.
Shares of the sixth-largest U.S. bank rose 2.57 percent to $53.24 in pre-market trading.

After a subdued 2017, volatility has returned to the markets, roiling stocks, bonds, currencies and commodities on fears of a trade war between the United States and China as well as concerns about inflation.

This has led to big revenue gains at banks with sizable trading operations such as Morgan Stanley and Goldman Sachs.

Morgan Stanley53.24
MS.NNEW YORK STOCK EXCHANGE
-0.16(-0.30%)
chartsgen2?symbols=MS - Morgan Stanley profit jumps 40 percent on trading boost
Morgan Stanley’s sales and trading revenue rose 26 percent to $4.40 billion in the latest quarter, driven by a nearly 27 percent gain in equities trading revenue.

Morgan Stanley’s total revenue rose 13.7 percent to $11.08 billion.

“Each of our businesses performed well, with significant client engagement across our global franchise, and Sales and Trading a particular highlight in a more active environment,” Chief Executive Officer James Gorman said in a statement.

Rival Goldman Sachs posted a 31 percent increase in total trading revenue.

Source

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news
18/04/2018
админ
Related ItemsChinaequitiesinflationmarketmarket volatilitymarketssalestradetrade wartradingUnited Statesvolatility

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