Stock slump dents income, hikes VAR by 22% at UBS

Whipsawing stock markets caused risk indicators to surge at UBS and frightened clients out of trading, leading to a 10% dive in the bank’s equities revenues in the fourth quarter of 2018.

Income from equity derivatives trading plummeted $47 million (23%) and from cash equities trading $16 million (5%) in the last three months of the year. Overall, the equities divisions’ revenues slipped $92 million to $792 million.

The burst in volatility also led to an increase in the bank’s own average

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