Advertisement
Canada markets open in 16 minutes

  • S&P/TSX

    21,788.48
    -60.11 (-0.28%)
     

  • S&P 500

    5,469.30
    +21.43 (+0.39%)
     

  • DOW

    39,112.16
    -299.05 (-0.76%)
     

  • CAD/USD

    0.7308
    -0.0015 (-0.20%)
     

  • CRUDE OIL

    80.80
    -0.03 (-0.04%)
     

  • Bitcoin CAD

    84,002.35
    +345.74 (+0.41%)
     

  • CMC Crypto 200

    1,275.18
    -8.61 (-0.67%)
     

  • GOLD FUTURES

    2,320.80
    -10.00 (-0.43%)
     

  • RUSSELL 2000

    2,022.35
    -8.47 (-0.42%)
     

  • 10-Yr Bond

    4.2850
    +0.0470 (+1.11%)
     

  • NASDAQ futures

    19,927.50
    -44.75 (-0.22%)
     

  • VOLATILITY

    13.14
    +0.30 (+2.34%)
     

  • FTSE

    8,206.75
    -41.04 (-0.50%)
     

  • NIKKEI 225

    39,667.07
    +493.92 (+1.26%)
     

  • CAD/EUR

    0.6841
    +0.0009 (+0.13%)
     
BREAKING:

COUCHE-TARD TAPS ALEX MILLER TO SUCCEED CEO BRIAN HANNASCH

Miller, who's currently chief operating officer, will take over from September 6

UBS begins major share buy-back programme

Reuters
·1 min read
A UBS logo is pictured on the branch of the Swiss bank in Lucerne

ZURICH (Reuters) - UBS has begun a share buyback program announced earlier this year, and repurchased 44.8 million Swiss francs ($50.21 million) worth of shares last week, the Swiss bank said on Monday.

UBS has said the buyback programme would be worth up to $1 billion this year.

Share buybacks and dividends are seen by analysts as a reason why investors are putting their money into UBS stock since its takeover of longtime rival Credit Suisse last year.

Companies use buybacks to reduce the proportion of stock held by investors, enabling them to return cash to shareholders, and often sending the shares higher.

($1 = 0.8922 Swiss francs)

(Reporting by Oliver Hirt; Editing by Peter Graff)