UBS Group AG shares fall 1.26% premarket after Swiss lawmakers reject proposal to delay new capital rules.

UBS Group AG declined 1.26% in premarket trading. The decline may be attributed to the Swiss lower house rejecting a proposal to give parliament the power to shape incoming banking regulation in its entirety, which could delay some new capital rules for UBS. However, UBS maintains a buy recommendation on the stock, raising its target price to €65, which represents 16% upside potential.