New UBS Reports Dip In First-Half Warburg Dillon Read Trading Income

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BASEL--UBS AG reports net trading income fell 11 per cent in the first half of 1998, to CHF3.176 billion ($2.1 billion) from CHF3.586 billion ($2.45 billion) the previous year.

The overall trading figure (which is mostly comprised of revenues from the Warburg Dillon Read investment banking division) includes a 38 per cent year-on-year decline in the bank's interest rate product sector.

"While equities put in a strong performance on the back of rising stock markets, heavy trading volumes and

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