The Traderszone Network

Published in TZ Latest News 10 February, 2015 by The TZ Newswire Staff

UBS shares drop after warning over impact of rise in Swiss franc

UBS Group AG has warned over the impact of the surging Swiss franc and negative interest rates in Switzerland and the eurozone, sending its shares down more than 3 percent in early trade. Switzerland’s biggest bank said a sudden move by the central bank to abandon a cap on the franc, which sent the currency surging and is set to make life difficult for Swiss financial firms and exporters, will take a toll. “The increased value of the Swiss franc relative to other currencies, especially the U.S.

read more