Peugeot SA’s equity holders might not think much of its takeover of Italy’s Fiat Chrysler Automobiles NV but bondholders appear to love the idea. Fiat’s credit spreads (the extra yield above the benchmark) have tightened by as much as one-third after news of the deal emerged, accompanying a jump in the company’s share price. Peugeot’s shares fell sharply because of ...

Look inside your mutual fund: WeWork isn’t the only unicorn with a valuation so slippery that it’s worth $47 billion one day and $0 the next. Back in June 2015, fund managers from Fidelity Investments to BlackRock Inc. valued their stakes in Uber Technologies Inc. somewhere between $33 and $40 a share. The ride-hailing company is now trading at the ...

Bloomberg Stocks in Europe struggled for traction alongside US index futures as a raft of corporate earnings and economic data presented a somewhat muddy outlook for global growth. Treasuries rose after dropping for three days. The Stoxx Europe 600 Index erased a modest gain after data showed the euro-area economy remained close to stagnation last month amid a broad downturn ...