Bank’s chief executive blames volatility in global markets for disappointing third-quarter results as trading revenue plummetsMorgan Stanley’s profits have slumped for the moment consecutive quarter as uncertainty approximately the timing of a US interest rate rise and concerns approximately China’s cooling economy drive investors from bond,currency and commodity markets. The last of the gargantuan US banks to release third-quarter results, it said earnings applicable to common shareholders had fallen 42.4% to $939m (£606m), and 48 cents a share,from $1.63bn, or 83 cents a share, or a year earlier. Analysts had been expecting 62 cents a share.
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Source: theguardian.com