Thursday 19, June 2008 by Mike Gallagher

Morgan Stanley earnings take a massive hit

Morgan Stanley has admitted that its earnings have plunged by over 50 per cent as the investment bank was hit by trading losses and a slowdown in the investment banking market. Losses on leveraged loans knocked $519 million off the balance sheet, while fees from fixed income were down by 85 per cent. Real estate losses amounted to $277 million, while fees from the investment banking arm were down by over 50 per cent.

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