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Market Update : 
Swiss Re, UBS Lead Stocks Lower
Author: 123jump.com Staff
123jump.com
Last Update: 5:12 PM EDT May 06 2008

Stocks in Europe closed lower after UBS reported a loss of 11.5 billion francs and Swiss Re missed its target. UBS also decided to elimiate 5,500 positions and raise caiptal to bolster its weak tier-1 capital ratio. NYSE Euronext earnings rose sharply on higher derivative revenues. Adidas first quarter earnings rose after the purchase of rival Reebok.

 

 

 
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