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Blackstone bets big on markets data

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Traders laugh as they work on the floor of the New York Stock Exchange shortly after the opening bell in New York

Traders laugh as they work on the floor of the New York Stock Exchange shortly after the opening bell in New York

REUTERS

Traders laugh as they work on the floor of the New York Stock Exchange shortly after the opening bell in New York

Blackstone is in talks to buy a controlling stake in Thomson Reuters financial data business, which provides information, analytics and trading platforms to financial professionals around the world.

The US private equity firm is in talks to buy about 55pc of the business, according to a person familiar with the buyer. The unit, which doesn't include the news-gathering operations, has a valuation of about $20bn (€16bn). The news sent Thomson Reuters shares sharply higher yesterday.

Elsewhere, world stocks declined in their biggest two-day dive in almost six months on Tuesday as tumbling oil prices and a jump in global borrowing costs cooled the year's euphoric start in financial markets.

Lacklustre German inflation curbed a rise in US Treasury yields - the benchmark for world lending rates - after they touched their strongest level in nearly four years overnight at 2.733pc.

Stocks on Wall Street shed almost 1pc, led by a decline in energy shares amid ongoing evidence of rising US crude output.

In Dublin, the Iseq was down 1.07pc. On Wall Street, the Dow Jones Industrial Average fell 294.98 points, or 1.12pc, to 26,144.5. The pan-European FTSEurofirst 300 index lost 0.73pc and MSCI's gauge of stocks across the globe shed 0.86pc.

Investors spooked by a two-day decline on Wall Street initially sought safety in US government bonds, said Gennadiy Goldberg at TD Securities in New York.

But the Treasury rally tapered off as investors readied for President Donald Trump's first State of the Union, a Federal Reserve statement on Wednesday and a jobs report on Friday that serves as a barometer of the US economy.

Reuters

Irish Independent