Weak investment banking slows down Morgan Stanley | News

In the last quarter, the investment banking department of the US major bank, Morgan Stanley, complained of growth and healthy profits. But in the past quarter, the division has weakened. The result is a drop in profits.

Morgan Stanley suffered a severe downturn in the past quarter. Investment banking is responsible for this. The bottom line is a drop in profits.

As announced by Morgan Stanley, second-quarter net income was $ 2.4 billion. This corresponds to a decrease of approximately 30 percent compared to the same period last year. Revenue would be $ 13.1 billion – also a significant 11 percent decline. Analysts expected better results of the bank.

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According to further information, the stock and bond business flourished as many investors had to adjust and restructure their portfolios in the face of rising prices and interest rates. But investment banking revenues were down 55 percent. This includes, for example, support with acquisitions or IPO. In asset management, too, business did not go as well as expected.

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Morgan Stanley shares have been in a solid downtrend since February, but have stabilized in the last few days. Accompanied by a rising MACD (momentum), the stock is approaching resistance around $ 81. If the breakthrough is successful, the next resistance will be close to $ 87. The annual low of $ 72 serves as support.

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