UBS has slashed about two hundred positions in London in recent weeks as the integration of Credit Suisse nears its end. The cuts were announced internally in recent weeks, according to people familiar with the matter. The reductions were carried out across the bank’s units, including wealth management and investment banking, they said.
European stocks surpassed their prior closing record high as the region extended an outperformance driven by a rotation out of the artificial intelligence trade and a strong earnings season.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 – Bloomberg The Opening Trade 11/05/2026
00:01:28 – Post-Midterm Rotation Hits Chips
00:04:27 – BOE Rate Hike Expected
00:05:45 – Commerzbank CEO Bettina Orlopp
00:14:24 – Maersk CEO Vincent Clerc
00:25:14 – GOP Blame Game Begins
00:29:31 – BOE Rate Decision Preview
00:35:34 – ‘Blue Tsunami’ Big Impact on AI
00:38:39 – Markets in Three Minutes
00:42:18 – Stocks To Watch
00:47:32 – The Market Open
00:51:31 – Nuveen’s Laura Cooper
01:01:23 – Commerzbank Preps for UniCredit Takeover
01:05:42 – Midterm Results Challenge Trump’s Energy Agenda
01:12:57 – Need To Know
01:14:36 – Rheinmetall Plunges
01:17:41 – Dollar Falls As Traders Weigh Gridlock
01:24:06 – Cyberattacks Uptick Raises Fears
01:30:30 – Daybook
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