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Stock impact report

UBS shares pop 8% as Swiss bank returns to profit after Credit Suisse takeover [MSNBC.com]

Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) 
Company Research Source: MSNBC.com
UBS logo is seen at the office building in Krakow, Poland on February 22, 2024.Jakub Porzycki | Nurphoto | Getty ImagesShares were 8.9% higher at 8:48 a.m. London time, returning some of April's losses. UBS shares soared 51.7% last year but have had a more lackluster start to 2024.Lower expenses and consolidation benefits following thetakeover of Credit SuisseThe Swiss banking giant is continuing to process the mammoth integration of its former rival. The firm said Tuesday that it expects to complete the merger of UBS AG and Credit Suisse AG into a single U.S. intermediate holding company in the second quarter, and the merger of its Swiss entities in the third quarter.watch nowVIDEO2:4302:43UBS CEO: We are making very good progress in our Credit Suisse integration plansSquawk Box EuropeGroup revenue in the first quarter totaled $12.74 billion, also higher than expected and up from $10.86 billion in the fourth quarter of 2023. Revenue in its flagship Global Management unit rose 28% to Show less Read more
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