Julius Baer (BAER.VX) suffered a double blow on Monday as yearly earnings fell short of expectations and clients transferring from recently acquired Merrill funds were set to reach only the low end of its target range.
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UBS's second-quarter profit beat forecasts even though it agreed to settle a lawsuit with the U.S. housing regulator over the mis-selling of mortgage-backed bonds, boosting shares in Switzerland's largest bank to two-year highs.
