(The following statement was released by the rating agency)
CHICAGO, July 21 (Fitch) Morgan Stanley's (MS) second quarter
2016 (2Q16)
earnings improved and grew 35% from the sequential quarter, but
were down 14%
from the year-ago quarter, which was somewhat strong, according
to Fitch
Ratings. This earnings improvement was largely due to better
trading results
amid a more favorable market environment.
The company's reported return on average equity (ROE) was 8.3%
in 2Q16, up from
6.2% in th
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