Moscow. July 25. INTERFAX.RU American Bank Morgan Stanley, who took after the financial crisis fairly cautious stance on Monday surpassed the capitalization of its competitor, Goldman Sachs Group Inc., sticking to a more hands-off approach to business, which marked the first time in 10 years, writes the newspaper the Wall Street Journal.
Morgan Stanley’s shares rose at the end of trading on 24 July on 0,3% – to $for 46.71, which is the highest price since March and in line with the Bank’s capitalization level of $86.4 billion, according to FactSet data.
The value of Goldman Sachs stock fell Monday by 1% to $218,18 that matches the capitalization in $billion 85,88 Therefore, the market value of Morgan Stanley are higher by about $500 million, compared with Goldman Sachs.
Previously noted the reverse situation: in 2009, the difference between the capitalization of Goldman Sachs and Morgan Stanley reached $53 billion in favor of Goldman.
Goldman Sachs has demonstrated a fairly strong indicators after the financial crisis of 2008. However, in recent years the Bank has suffered from the weakening of the volatility of world financial markets and tightening regulation have made trading operations with securities and derivatives less profitable.
Morgan Stanley, which emerged from the crisis, focusing on more stable lines of business, including management of assets of wealthy clients, and reduced sale of assets fixed income.
Profit and revenue to Morgan Stanley for the second quarter of 2017 exceeded market forecasts, while the results of Goldman Sachs disappointed investors: the revenues of the Bank from operations with securities in the fixed income, currencies and commodities (FICC) fell by 40%.
Capitalization of Goldman Sachs exceeded the market value of Morgan Stanley since 2007.