Morgan Stanley says lower earnings from commodities in Q1
April 18 (Reuters) - Morgan Stanley said on Thursday it saw lower revenue from commodities trading in the first quarter from a year before, as its risk in trading in those markets also fell.
"Fixed Income & Commodities sales and trading net revenues were $1.5 billion compared with $2.6 billion a year ago reflecting declines in commodities and rates," the Wall Street bank said.
The decline was partly offset by higher results in securitized products and relative strength in corporate credit, it added.
Morgan Stanley also said its Value-at-Risk for trading commodities averaged $20 million per day in the three months to March 31, versus $22 million in the fourth quarter of 2012 and $27 million in the year-earlier first quarter.
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |
- The 10 Most Corrupt and Least Corrupt Countries in the World
- NSA gathers data on cellphone locations globally: report
- China central bank warns banks against use of bitcoin
- China's airspace zone has caused apprehension: Biden |