UBS confirms third-quarter loss, warns more charges possible

Discussion in 'Stocks' started by ASusilovic, Oct 29, 2007.

  1. Swiss banking group UBS on Monday reaffirmed it expects a third-quarter loss of 600 million Swiss francs ($515 million) to 800 million francs, but warned it could take further charges in the fourth quarter from its exposure to U.S. housing and mortgage markets. The group, which will report third-quarter earnings on Tuesday, said the fourth quarter has started with good results from all units, but further deterioration in U.S. housing markets or rating downgrades for mortgage-related securities could lead to further write-downs. "UBS is not assuming that the quarter will continue as positively as it has begun, or that the current difficulties will be resolved in the short term," the group said.{C178677B-415F-4A17-8849-BA046C230EAE}

    I think, it´s not only a "possibility"...