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Why UBS Group Stock Soared 20.9% in August

TheMotleyFool

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Why UBS Group Stock Soared 20.9% in August: https://g.foolcdn.com/editorial/images/746884/two-people-leaning-forward-on-desk-talking.jpg

In an eventful month for the bank, shares of UBS Group (NYSE: UBS) jumped 20.9% in August, according to S&P Global Market Intelligence. The Zurich-based bank is currently trading at almost $26 per share, up about 38% year to date.

UBS beat the major market indexes in August, as the S 500 dropped 1.6%, the Dow Jones Industrial Average fell 2.4%, and the Nasdaq Composite declined 1.7% last month.

The major catalyst for UBS' rise in August was its second-quarter earnings report, released on Aug. 31, which saw profits soar.

Source Fool.com