Financial Times FT.com

UBS predicts ‘another difficult year’

By Haig Simonian in Zurich

Published: February 14 2008 07:27 | Last updated: February 14 2008 18:25

UBS, the European bank hardest hit by the subprime crisis, offered a gloomy outlook on Thursday, raising questions about how it will handle its exposure to the US residential mortgage market.

Shares in the Swiss bank fell by 8.3 per cent to close at SFr37.46 as investors praised its greater candour but expressed concern about additional holdings of securities not previously revealed.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this