UBS enjoyed a bigger second-quarter jump in equities trading revenues than any of its US and European rivals to report earnings so far, helping it offset a halving of debt underwriting revenues that was the steepest Q2 fall yet reported by a major investment bank.

UBS brought forward its results to Monday, a day earlier than expected, after a report in the Swiss press was published on Sunday. The bank said it took the decision "in order to be transparent and counter certain incorrect and misleading information that has become public".