Morgan Stanley profit rises on equity trading strength - KELO-AM

Oct 14 (Reuters) – Morgan Stanley beat third-quarter profit estimates on Wednesday, as market volatility due to the interest-rate decision and the US-Iran war boosted equity trading, while advisory roles and M&A fees lifted investment banking income. The market turbulence led investors to realign their portfolios, driving up trading volumes and boosting revenue at the bank’s trading desks. Morgan Stanley posted equity trading revenue of $5.8 billion, a nearly 41% 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.