Morgan Stanley's investment bank saw revenues rise almost 20% in the second quarter, fuelled by big gains across all of its major trading and banking business lines.

Morgan Stanley rounded off the latest earnings season for Wall Street's bulge-bracket banks on Wednesday, reporting group revenues of $10.6bn, 11.5% up year-on-year and some $500m ahead of analyst expectations. These helped push profits up 33% from a year ago to $2.4bn.