UBS is expecting more losses from its property exposure as the bank’s troubles widen beyond the US to mortgage business in other countries, reports The Times. The warning from the Swiss bank, which was hit hard by the sub-prime mortgage crisis, emerged in a prospectus for a SwFr16bn (£7.8bn) share issue, published late Friday. UBS shares on Thursday suffered their biggest fall in more than two months of trading, sliding nearly 6% to SwFr28.2 in Zurich. The group gave warning in its prospectus that it holds positions related to property markets in countries other than the US on “which it could suffer losses”.
