Morgan Stanley profit rises on equity trading strength - The Globe and Mail

Morgan Stanley MS-N reported a rise in third-quarter profit on Wednesday, helped by strong equity trading as markets remained volatile due to the Federal Reserve’s interest-rate decision and the U.S.-Iran war. The turbulence forced investors to realign their portfolios, driving up trading volumes and boosting revenues at bank’s trading desks. Morgan Stanley posted equity trading revenue of US$5.8-billion, a nearly 41 per cent rise from a year ago. Goldman Sachs, which beat estimates for third-quarter profit a day ago, also reported a similar jump in equities trading. Morgan Stanley’s revenue from its fixed-income trading dropped 7.3 per cent to US$2.01-billion.