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A 69% surge in equities trading drove Morgan Stanley to record revenue and record profit in the quarter, the company disclosed.
Investment banking revenue was also expected to climb, Morgan Stanley said, following results already reported by rivals JPMorgan Chase and Goldman Sachs.
Equities trading as the driver The 69% equities gain pushed both headline lines to records, the company's release shows.
Morgan Stanley did not separately detail the investment banking figure in disclosed materials, but the firm said its investment banking business was expected to benefit from the same conditions that lifted rivals' results.
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