Shares of banks and other financial institutions ticked up as private-credit fears subsided.
Blue Owl shares surged after the troubled private-credit fund manager posted surprisingly strong distributable earnings. Blue Owl and other firms have diversified activities in order to cushion the impact of a slump in the category, which involves direct lending to corporations. The firm said Thursday that its overall fundraising rose to $9 billion in the period, up from $6.7 billion a year ago, fueled by real estate, infrastructure and other areas. Rivals such as Blackstone, Apollo Global and Ares Management, due to report earnings after the bell, rose in sympathy.
Credit-card processor Mastercard recorded higher profit and sales in the first quarter, driven by growth in its payment network business.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-30-26 1744ET