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UBS shares fall to five-year low

UBS shares fall to five-year low

UBS AG shares are at their lowest point in nearly five years.
Shares in Switzerland's largest bank have plunged 5.3 percent to 33.86 Swiss francs (US$31.94; euro21.06) on the Zurich exchange Friday.
The bank has suffered massive losses linked to the U.S. subprime mortgage crisis. The share price fall comes two days after a tense extraordinary meeting of thousands of shareholders.
On Wednesday, shareholders overwhelmingly approved a US$12 billion (euro8 billion) investment from foreign, government-owned funds aimed at shoring up the bank.
UBS suffered its first full-year loss in a decade last year. Its share price has slumped around 35 percent so far this year.


Updated : 2021-04-11 10:08 GMT+08:00