Morgan Stanley Q1 profit beats estimates on trading boost as it jumps 40%

Morgan Stanley tracked arch rival Goldman Sachs in delivering stronger-than-expected results on Wednesday, but sounded a note of caution about the impact of trade tensions and geopolitical concerns on future trading revenue.

A 40 percent rise in first quarter profit at the bank was driven by the rise in market volatility since February, but Chief Financial Officer Jonathan Pruzan warned that market turbulence like that caused by a tit-for-tat row with China could push clients to the sidelines. "Volatility is interesting because.....

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