0746 GMT - UBS Group's fourth-quarter results beat expectations and are likely to trigger a small positive share-price reaction, Morgan Stanley's Giulia Aurora Miotto says in a research note. The better-than-expected results will come as a relief after some investors saw negative implications from smaller peer Julius Baer's update Monday, the analyst says. UBS beat expectations mainly thanks to costs, but its top line was also a touch better than anticipated, Morgan Stanley says. By division, the Swiss group's investment bank delivered the largest outperformance relative to expectations, the analyst says. Its global wealth management unit experienced mixed trends, its asset management exceeded expectations thanks to costs, and its personal and corporate banking was weaker than anticipated, Morgan Stanley says. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
February 04, 2025 02:46 ET (07:46 GMT)
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