UBS's second-quarter profit more than doubled from a year earlier, comfortably ahead of expectations, as it joined other major banks in making the most of a surge in trading activity amid market turmoil.

UBS Group AG posted higher than expected profit in the second quarter, and signaled that the prospect of cooling global trade tensions should support results as investor activity revives.

Good morning. UBS’s profit tops expectations in a busy day of European earnings. A powerful earthquake triggers tsunami warnings from Japan to the US. And the rank of billionaires at Nvidia swells. Listen to the day’s top stories.