Last update: Mon, 27 Jun 2016 11pm

Stocks and Bonds: World


FTSE Russell reconfigured its indexes at the close in an annual event that triggered the highest trading volume for any session in almost five years and added to Friday's high volatility in the US stock market. Trades in about 933 million shares representing $20.6 billion were executed in Nasdaq's "closing cross" in 0.8 seconds across some 2,464 Nasdaq-listed stocks, according to bourse.

Middle East stocks fell sharply on Sunday because of Britain's vote to leave the European Union but Gulf bourses came well off their lows. Egypt was hardest hit because of concern that fund inflows into the country could shrink further. Most of the Gulf does not depend heavily on foreign capital or non-oil exports, so the main threat to it from Brexit is that slower growth in Europe could push down oil prices; Brent oil sank 4.9 percent to $48.42 a barrel on Friday.
Blackstone Group LP has bought a minority stake in $13 billion hedge fund Marathon Asset Management, the two companies said on Wednesday. Terms of the deal were not disclosed. Marathon, which was founded by Bruce Richards and Louis Hanover, specialises in distressed debt investing.
Saudi Arabia has chosen Citigroup , HSBC and JP Morgan to manage its debut sovereign bond issue, two sources with knowledge of the matter said on Sunday, in what could be one of the largest-ever emerging market debt offerings.
Concerned about the impact of Britain's upcoming vote on European Union membership, investors pulled $11 billion out of the 10 largest European equity exchange-traded funds year-to-date through June 15, according to S&P Global Market Intelligence's ETF reports on Tuesday.
Last fall, Jessica Mah, the founder and chief executive of San Francisco-based inDinero, was deluged with calls from investors wanting to know when the accounting software maker would go public. The conversation has changed dramatically since.
In delaying its IPO by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing - and left billions of dollars on the table as its valuation shrivelled.