Stocks fell across the board around midday, led by a sharp setback for the technology sector, as investors sold off equities against the backdrop of broadly better-than-expected corporate earnings.
Michel Juvet, chief investment officer at Swiss bank Bordier, said he had sold off equity positions last week on expectations that equity markets could retreat over Italian election problems.
WHEN both bonds and equities sell off, something interesting is going on.
It enjoyed the endorsement of government officials, who, among other things, saw a convenient opportunity to sell off the equity of debt-burdened state-owned enterprises.
One part of the restructuring should mandate that the federal government sell off its equity within, say, a five-year period.
OneWest played a particularly large role foreclosing on reverse mortgages, in which generally elderly homeowners slowly sell off the equity they've built in their homes to fund their retirements.
The unusual array of assets that Lloyds Banking Group acquired when HBOS was rescued during the banking crisis was highlighted on Wednesday when the bailed-out bank sold off 71 private equity related investments for £1bn.
In court papers and in his communications with Forbes, Porter said Wang sold off the two equity positions he had in 2001 to an associate for $1.7 million, paying U.S. taxes on any gains.
But to create a financial system that can fund the growth India needs, he must get the state out of the business of running banks.India has historically sold off small equity stakes in state-owned firms to fund its budget deficits.
As the venture grew, the company sold off additional equity and I found attractive debt financing from a regional development financing institution.
