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Morgan Stanley's quarterly profit rises 11.4 pct

July 19 (Reuters) - Morgan Stanley reported an 11.4 percent rise in quarterly profit on Wednesday, driven by strength in its investment banking and wealth management businesses.

Earnings applicable to common shareholders rose to $1.59 billion in the second quarter ended June 30 from $1.43 billion a year earlier. Earnings per share rose to 87 cents from 75 cents.

Analysts on average had expected earnings of 76 cents per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the figures were comparable.

Investment banking revenue rose 25 percent to $1.53 billion.

Arch-rival Goldman Sachs Group Inc reported a 40 percent drop in bond trading revenue on Tuesday.

Morgan Stanley, the sixth-largest U.S. bank by assets, wraps up the quarterly earnings season for the big lenders. (Reporting by Sruthi Shankar in Bengaluru and Olivia Oran in New York)