UBS - Subprime Losses to Continue

For UBS, the European bank hardest hit by the collapse of the subprime housing market in the United States, fell the most in more than two months in Swiss trading on Monday after it said it may face more losses from mortgage securities. UBS declined 5.8 percent to 28.20 francs in Zurich, and has dropped 43 percent this year, cutting its market value to 61.4 billion francs ($59.9 billion).