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Institutional securities loss hits Morgan Stanley profit
January 17, 2014 / 12:30 PM / 4 years ago

Institutional securities loss hits Morgan Stanley profit

Jan 17 (Reuters) - Morgan Stanley reported a sharp fall in quarterly profit as the Wall Street bank posted a pre-tax loss of $1.1 billion from continuing operations in its institutional securities business.

Net income from continuing operations applicable to the company fell to $192 million, or 7 cents per share, in the fourth quarter from $661 million, or 33 cents per share, in the same quarter of 2012, the bank said on Friday. (Reporting by Tanya Agrawal in Bangalore; tanya.agrawal@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 1130; Reuters Messaging: tanya.agrawal.thomsonreuters.com@reuters.net)

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