UBS rose as much as 8.9 percent in Swiss trading after saying it expects a "small profit" for the third quarter. The Zurich-based bank said in a statement today it "substantially reduced its U.S. commercial and residential mortgage-related positions" and forecast 2009 will be a profitable year.
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10-02-2008, 07:59 PM
UBS slims mortgage-backed holdings, turns profit
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