Open: London Session | Forex, Metals, Oil, Agriculture July 20, 2021



Meanwhile, international oil benchmark Brent crude advanced 0.16 per cent to USD 68.73 per barrel. The US crude contract for August delivery, which expires later on Tuesday, was up 49 cents, or 0.7 per cent, at $66.91 a barrel.

United States

At UBS’s investment bank, deal advice for mergers and acquisitions and other corporate transactions pushed global banking revenue 68% higher, helping to offset a 14% decline in market-trading income. UBS said markets revenue would have been flat but it took an additional $87 million hit the quarter from the late March default by family office Archegos Capital Management. UBS helps the world’s rich manage their wealth and competes with Wall Street banks in investment banking.
After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. UBS was one of about a half-dozen banks that lent to Archegos to take large, concentrated positions in stocks. Though the US indices fell sharply on Monday, futures on them turned positive in early Tuesday. Equities on Wall Street too ended with massive losses in overnight sessions. You will be charged $ + tax (if applicable) for The Wall Street Journal.