Morgan Stanley reported a rise in second-quarter profit, driven by strong mergers and acquisitions activity despite macroeconomic uncertainty. The investment bank’s investment banking revenue soared to $2.44 billion from $1.54 billion a year ago, boosted by a rise in M&A advisory fees.
Strong Trading
Global markets navigated significant turbulence during the quarter, resulting in a sharp rise in oil prices. Clients executed a higher volume of transactions to hedge against risks and capitalize on pricing swings, boosting Morgan Stanley’s trading desks. Equities revenue surged over 69% to $6.3 billion.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
