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Morgan Stanley profit drops nearly 50 per cent

Investment bank is hit by a fall in fixed income trade flow, slicing net income per share to half that of 2010

Reuters, Thursday 21 Apr 2011
Views: 695
Views: 695

Morgan Stanley said first-quarter profit dropped nearly 50 per cent, hurt by a decline in fixed income trading revenue.

The investment bank and brokerage posted net income for shareholders of US$736 million, or 50 cents a share, down from $1.411 billion, or 99 cents a share, in the same quarter last year.

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