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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  UBS Group    UBSG   CH0244767585

UBS GROUP

(UBSG)
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UBS has whistleblower deal in Brazil currency investigation

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07/03/2015 | 08:19am EST
Waning moon is seen behind a logo of Swiss bank UBS in Zurich

SAO PAULO (Reuters) - Swiss lender UBS AG made a whistleblower deal with Brazilian authorities investigating the suspected rigging of Brazil's currency market and will receive no punishment in the case, a local newspaper reported on Friday.

The investigation, which involves 15 of the world's largest banks, began following the presentation of evidence by UBS, Valor Economico reported, without naming its sources.

A UBS press representative did not immediately respond to a request for comment.

In a document released Thursday, antitrust watchdog Cade alleged the banks colluded to influence benchmark currency rates in Brazil by aligning positions and pushing transactions in a way that deterred competitors from the market between 2007 and 2013, at least. Foreign exchange trading in Brazil is estimated at about $3 trillion a year, excluding swaps and derivative transactions.

The banks named in the Cade probe are Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Barclays Plc, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co, Morgan Stanley, Nomura Holdings Inc, Royal Bank of Canada, Royal Bank of Scotland Group, Standard Bank Group Ltd, Standard Chartered Plc and UBS.

(Reporting by Asher Levine; Editing by Jeffrey Benkoe)

Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.54% 0.7538 Delayed Quote.3.58%
EURO / BRAZILIAN REAL (EUR/BRL) -1.37% 4.5855 Delayed Quote.5.03%
UBS GROUP 1.27% 11.945 Delayed Quote.-3.60%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.59% 1.3255 Delayed Quote.-2.99%
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Financials (CHF)
Sales 2019 28 739 M
EBIT 2019 5 667 M
Net income 2019 4 268 M
Debt 2019 32 299 M
Yield 2019 6,10%
P/E ratio 2019 10,7x
P/E ratio 2020 9,95x
EV / Sales2019 2,63x
EV / Sales2020 2,60x
Capitalization 43 374 M
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Technical analysis trends UBS GROUP
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 13,63  CHF
Last Close Price 11,95  CHF
Spread / Highest target 42,3%
Spread / Average Target 14,1%
Spread / Lowest Target -39,4%
EPS Revisions
Managers
NameTitle
Sergio P. Ermotti Group Chief Executive Officer
Axel A. Weber Chairman
Sabine Keller-Busse Group Chief Operating Officer
Kirt Gardner Group Chief Financial Officer
Reto Francioni Independent Director
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