UBS Up, Asos Slumps, Close Brothers Slides

On this episode of Stock Movers:
- UBS reiterated its scathing critique of Switzerland’s planned changes to banking regulation, saying they may put the firm’s role in the country at risk.
- Asos warned its full-year earnings would be at the lower end of expectations as the online fast fashion chain works on a complex turnaround plan. Shares of Asos fell as much as 13% in early London trading, the most on an intraday basis since May 2023.
- Close Brothers is offloading its loss-making vehicle hire business, at a cost of £30 million, in its latest bit of reorganisation to become a “simpler” bank. The lender is trying to boost profits following a long-running legal saga tied to its motor finance unit. Shares slid in early trading.

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