UBS Stock Price Heads for Highest Since 2008

Shares in UBS (CH:UBSG) are scaling fresh multiyear highs, after the bank posted a record $29 billion profit following its shotgun takeover of Credit Suisse, and said it would keep the latter’s domestic arm.

UBS stock in Zurich recently stood 5% higher at 23.26 Swiss francs.

If that level holds through the day, UBS shares would register their highest close since the global financial crisis.

FactSet data shows the shares haven’t closed above 23 francs since October 2008.

UBS’s U.S.-listed stock (UBS) traded more than 4% higher ahead of the market open.