Morgan Stanley profit beats Street as equity trading surges

Via Lauren Tara LaCapra (Reuters) – Morgan Stanley posted the next-than-anticipated quarterly revenue on Friday as inventory trading earnings jumped 31 %, a surprisingly strong efficiency in a quarter when most competitors posted smaller gains and even declines in that business. The rise in stock buying and selling revenue offset most of the decline in fixed-profits, forex, and commodity buying and selling, where revenue fell 44 p.c. Morgan Stanley has had difficulty with fastened-profits buying and selling for years, but within the 1/3 quarter vulnerable market conditions also shook lots of the financial institution's competitors. …