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UBS Group AG (0R3T.L)

LSE - LSE Delayed price. Currency in CHF
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13.44-0.06 (-0.44%)
At close: 4:17PM GMT
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Previous close13.51
Bid0.00 x N/A
Ask0.00 x N/A
Day's range13.31 - 13.53
52-week range13.31 - 13.53
Avg. volumeN/A
Market cap49.319B
Beta (5Y monthly)1.21
PE ratio (TTM)8.86
EPS (TTM)1.52
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm

    UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm

    (Bloomberg) -- UBS Group AG is in talks to invest $400 million in Paytm, the most valuable Indian startup, in a bet on the surging digital payments market in the world’s second-most populous country, people with knowledge of the matter said.A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients, according to the people, who asked not to be identified because the information is private. UBS is negotiating the purchase of Paytm stock from a group of the Indian fintech company’s employees, the people said.UBS aims to finalize an agreement as soon as this month, though talks could still be delayed or fall apart, according to one of the people. Paytm isn’t raising any new capital as part of the deal, the people said. Representatives for UBS and Paytm declined to comment.India’s rapidly-growing market has attracted global investors keen to capitalize on growing acceptance of electronic payment systems since the government took huge swathes of cash out of circulation in 2016. Paytm, whose backers include Chinese tech tycoon Jack Ma’s Ant Group Co., was valued at $16 billion in a 2019 funding round.Paytm competes with the likes of Google Pay, Walmart Inc.’s PhonePe, Facebook Inc.’s WhatsApp payments service and dozens of smaller startups.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Global Banks Warn of Market Chaos If Court Abolishes Libor

    Global Banks Warn of Market Chaos If Court Abolishes Libor

    (Bloomberg) -- Some of the world’s biggest banks are urging a U.S. judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.”Defendants in the case, including JPMorgan Chase & Co., Credit Suisse Group AG and Deutsche Bank AG, said in a November filing that an injunction abruptly ending the London interbank offered rate would wreak havoc on financial markets and undermine years of work reforming the reference rate. The plaintiffs, which include 27 consumer borrowers and credit card users, are also seeking monetary damages.Attorneys not involved in the case say the chances of an injunction are slim. Yet it underscores the risks and legal costs for banks that continue to prop up Libor, which still underpins hundreds of trillions of dollars of financial assets around the world. It also highlights the fragility of the discredited benchmark, which in theory could be halted by a single court decision.“You have to take it seriously because it would be a catastrophe if it was granted,” said Anne Beaumont, a partner at law firm Friedman Kaplan Seiler & Adelman LLP. “They’re likely going to continue to get sued like this as long as it’s there.”A San Francisco judge has said he will render a decision on the injunction without a hearing. The judge is scheduled Thursday to hear a request by the banks to transfer the case to Manhattan federal court.Libor is derived from a daily survey of bankers who estimate how much they would charge each other to borrow. It’s used to help determine the cost of borrowing around the world, from student loans and mortgages to interest-rate swaps and collateralized loan obligations.In the wake of the 2008 financial crisis, regulators discovered that lenders had been manipulating the rates to their advantage, resulting in billions of dollars of fines.For over three years, policy makers around the globe have been developing new benchmarks to replace Libor by the end of 2021. In November, officials proposed an extension for some dollar Libor tenors until mid-2023, to help firms cope with the transition process.If the benchmark were to be immediately switched off, many derivatives contracts already contain contractual fallback language that would enable them to transition to an alternative rate, according to Y. Daphne Coelho-Adam, a counsel at Seward & Kissel LLP who is not involved in the case. But hundreds of billions of dollars of bonds, loans and securitizations lack a clear replacement rate and could pose a threat to financial stability.Defendants in the case also include UBS Group AG, Citigroup Inc., HSBC Holdings Plc and ICE Benchmark Administration Ltd., which oversees the rate.‘Price Fixing’“It must be stopped one way or another or neutralized because it’s an illegal price-fixing agreement,” Joseph Alioto, an attorney at Alioto Law Firm representing the plaintiffs, said in an interview. Banks argue “that the sky is falling and all kinds of economic havoc will take place. In the United States that doesn’t matter,” he said. “If you’re fixing prices you can’t do it, regardless of the consequences or the business excuse.”The plaintiffs want Libor to be either prohibited or set at zero with borrowers repaying capital but not interest.The banks said in filing that none of the plaintiffs have shown that they ever paid interest based on Libor, adding that the suit is built on “baseless theories of antitrust liability.” Regulators have warned that even a temporary disturbance of Libor could devastate financial markets, the banks’ attorneys said.“Plaintiffs allege that the highly regulated process of setting a benchmark that is a fundamental part of the global economy is a per se antitrust violation,” the banks said. “But legitimate cooperative activities, even those involving competitors, often benefit competition.”Organizations including the International Swaps and Derivatives Association and the U.S. Chamber of Commerce are supporting the banks. In a separate filing, they argue that without mechanisms to determine future borrowing costs, parties would spend “substantial resources” negotiating price schedules, and could be forced to use fixed rates.Attorneys for the banks didn’t respond to emailed requests for comment.(Adds details on filing from ISDA, U.S. Chamber of Commerce, in penultimate paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • UBS Venue Sees EU Stock Trade in London Cut in Half After Brexit

    UBS Venue Sees EU Stock Trade in London Cut in Half After Brexit

    (Bloomberg) -- UBS Group AG’s London platform has seen nearly 50% of its European equities business move to rivals in Amsterdam and Paris after Brexit diverted most EU share trading back to the bloc.The Swiss bank, which decided not to open a venue for these trades within the European Union, dropped to 307 million euros ($373 million) in daily share trading last week on its UBS MTF venue, according to data from Cboe Global Markets Inc.UBS MTF had a 1.6% share of European stock trading during the first week of December, which fell to about 0.8% as of Jan. 8, Cboe data showed.While the loss of business is only a small part of the bank’s overall equities franchise, it highlights Britain’s reduced role for dealing in European stocks. The heads of Cboe Europe and Aquis Exchange Plc have said in recent weeks this shift out of London is permanent.Brexit Pushes Most Europe Share Trading Off Top U.K. VenuesThe U.K. lost its rights to access the single market on Dec. 31 and the EU has not permitted investors inside the bloc to trade shares in companies such as Airbus SE and BNP Paribas SA from the U.K. However, British and international investors can still trade EU shares from London, leaving some residual business in the city.UBS was one of the only major platforms to not establish an EU venue as a Brexit hedge. Goldman Sachs Group Inc. launched an entity in Paris, while Cboe Europe and London Stock Exchange Group Plc opted for Amsterdam.The Swiss bank may get a boost in the coming months after the U.K. Treasury granted equivalence to Switzerland, paving the way for shares in companies such as Nestle SA to be reintroduced to London platforms. These stocks are banned from European venues due to a spat between Bern and the EU.A UBS spokeswoman declined to comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.