A profit warning and writedowns announced by Lehman Brothers Holdings has UBS investors worrying. Lehman's writedowns are "clearly indicative of further writedowns for UBS, as is the deterioration in AAA-rated securities and the UK mortgage market," said analyst Peter Thorne of the London brokerage Helvea. UBS is selling shares at a discount to existing holders in a rights issue to raise $15.67 billion in capital.

Related Summaries