US Stock Market Move | UBS Group AG (UBS.US) rose more than 3% in the first quarter, with a year-on-year net profit increase of 80%. The company plans to further buy back shares before the end of the year.

On Wednesday, UBS Group AG (UBS.US) rose more than 3% to $43.56. In terms of news, UBS Group AG released its first-quarter financial report, reporting a net profit attributable to shareholders of $3 billion in Q1, an 80% increase year-on-year, exceeding analysts' expectations of $2.8 billion; pre-tax basic profit was $3.9 billion, a 54% year-on-year increase, surpassing analysts' expectations of $3.2 billion. UBS Group AG also stated that they still plan to repurchase $3 billion worth of stocks before the release of the second-quarter financial report, and have already repurchased $900 million worth of stocks in the past three months. The bank also revealed its plans to further repurchase stocks before the end of the year.