Shares of Blackstone Group LP, the private equity firm that went public late last month, fell as much as 7 percent on Friday, amid a debt market freeze that has shut off funding for leveraged buyouts. Blackstone's stock has fallen 21 percent since its June 21 debut, making it one of the year's worst performers for U.S. IPOs.
Stocks and high-yield corporate bonds are back to appropriate levels, the world's biggest bond fund manager said on Friday, a day after fears of spreading problems in the housing market triggered a rout in global stock and credit markets.
European shares bounced back while the yen and government bonds erased gains in volatile trade on Friday after robust corporate results eased credit fears which have triggered sharp moves across financial markets.
Infineon is actively seeking ways to cut its stake in its loss-making memory-chip subsidiary Qimonda, Infineon's chief executive said, lifting Infineon shares after unspectacular quarterly results.
Japan's Nikkei average dropped 2.36 percent to its lowest in nearly three months on Friday on a plunge in the U.S. market and a stronger yen, while this Sunday's parliamentary election kept the market in check.
High yielding currencies fell sharply in volatile markets on Friday as a sell-off in credit and stock markets led investors to pare risky carry trades.
The yen hit a three-month high against the dollar and a six-week high versus the euro on Friday as a sell-off in credit and stock markets forced investors to cut back on risky carry trades.
The bottom fell out from the U.S. stock market on Thursday with major indexes down about 2 percent on worries about the housing market and corporate credit.
Stocks plummeted on Thursday, with the Dow industrials tumbling more than 300 points, on signs of further weakness in the housing market and deteriorating conditions for corporate buyouts. The S&P shed about $300 billion in market value in the worst single session since the February 27 global market sell-off.
Investors gave Gap Inc. (NYSE: GPS) a nod of approval on Friday, sending shares higher after the company said late Thursday that it will hire a food and drug veteran as its new Chief Executive Officer, ending a seven month search.
The dollar fell on Thursday, dropping to nearly three-month lows against the yen, after June U.S. new home sales came in below expectations, adding to widespread fears about credit market problems.
Wendy's International Inc., which recently put itself up for sale, reported a quarterly profit on Thursday as it worked on improving its image with new products and advertising.
Volvo AB shares dropped 7 percent on Wednesday after the truck maker said second-quarter net profit fell 14 percent as the North American truck market continued to drag on the firm’s otherwise strong demand in Europe and Asia.
The benchmark Bombay Stock Exchange (BSE) 30-share sensitivity index, the Sensex, continued its dream run on Tuesday, rising 137 points from the previous close to a fresh all-time high of 15,869 before ending 63 points higher at a record 15,795.
The dollar rebounded from recent record lows versus the euro on Wednesday, benefiting from rising risk aversion as global stocks fell and investors assessed how far contagion from the U.S. housing market might spread.
World number-two truck maker Volvo AB produced an unexpected fall in second-quarter profit on weakness in its key U.S. market and forecast more slippage there, sending its shares down 7 percent.
European stocks hit a one-month low and the yen and government bonds rose on Wednesday after disappointing U.S. earnings results fanned concerns that the U.S. mortgage sector's malaise may hurt the broader economy.
Japan's Nikkei average fell 0.8 percent on Wednesday as exporters such as Toyota Motor Corp. lost ground on a tumble in U.S. stocks and a stronger yen, and lower oil prices hit energy stocks.
A surging U.S. market for initial public offerings has intensified competition between the two largest U.S. stock exchanges for new listings, with both markets campaigning for many of the companies that have recently gone public.
Stocks tumbled on Tuesday, with the three major indexes posting their worst single day performance since March 13, as disappointing results from DuPont Co. and Countrywide Financial Corp. heightened concerns about the housing market.
European auto stocks have powered ahead this year thanks to the performance of sector heavyweight DaimlerChrysler and talk of industry restructuring, but the brakes are set to come on.
The dollar fell to a 15-year low against a basket of major currencies and a record low against the euro on Tuesday, hurt by fears of worsening credit woes and housing market weakness.
Shares of Apple Inc fell 4 percent on Tuesday after AT&T Inc issued initial subscriber numbers for customers of Apple's iPhone that were below analyst estimates.
Halliburton Co., the world's second-largest oil services company, said on Monday that second-quarter profit from continuing operations rose 19 percent, topping Wall Street views, helped by new international contracts.
U.S. stocks rose Monday on strong Merck & Co. profits and news of a nearly $18 billion oil services takeover, while Treasury bonds eased as reduced fears about the subprime credit market made riskier assets attractive again.
Seoul shares briefly hit a record on Monday but then headed lower as exporters fell after China raised interest rates and on worries that troubles in U.S. subprime mortgages would hurt the world's largest economy.
The dollar fell to another record low against the euro on Monday, hit by fresh fears of a global spill-over from the U.S. mortgage market crisis that buoyed safe-haven bonds and forced Asian stocks into a retreat.
The currency matching system of news and information provider Reuters Group Plc suffered a temporary outage on Monday, forcing some traders to switch to alternative venues or trade over the phone.
Home sales and a report on economic growth may help investors decide if they want to keep riding a bull market in stocks, while a torrent of quarterly earnings reports will no doubt cause some anxious moments. A sharp drop in shares of equipment-maker Caterpillar Inc. on Friday showed just how badly a stock can be hurt when there is an earnings shortfall.
U.S. stocks tumbled on Friday, battered by disappointing results from such bellwethers as Caterpillar and Google, and more signals that fallout from the risky subprime mortgage market may spread.
