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Politics : Ask Michael Burke

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To: Mike M2 who wrote (32836)	9/25/1998 9:06:00 AM
From: Joseph G.	Read Replies (1) of 132070

<<ZURICH, Sept 25 (Reuters) - Shares of UBS AG opened over 16 percent lower on Friday, a day after Europe's biggest bank said market turmoil and a bad hedge fund investment would cause a third quarter loss and lower 1998 full-year profit. UBS registered shares opened at 305.50 Swiss francs ($219.5), down 58.50 francs or 16.3 percent, before regaining some ground to stand at around 310 francs in the first ten minutes of trade. UBS shares had already lost 10 percent on Thursday to close a new year low in anticipation of bad news after the bank called a snap news conference, held just as the bourse closed.>>

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