Reuters – World stocks steadied on Friday but were still on track for a sixth consecutive week of gains, while the euro fell on worries about the region’s prospects.

MSCI‘s main world stock index was flat despite modest gains in Europe and a rebound in Japan. But the index was up 1.6 percent on the week, gaining around 28 percent since a March 9 low.

U.S. financial services firm State Street said evidence was building that big investors were buying into the rally, particularly in U.S. and emerging market stocks.

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Globe and Mail – Hedge fund manager Ravi Sood is having a rough time navigating through the tsunami that has hit stock markets around the world.

The stellar record of his Lawrence Partners Fund suffered a 48-per-cent hair cut in September, sending its year-to-date loss to 53 per cent for the first nine months of 2008.

Mr. Sood would not comment about his fund, but told investors in a letter that he was forced to "reduce the size of core positions at inopportune levels in midmonth. …

"We cannot restore all of this year’s loss to date in the next few months or quarters, but we are confident we will get there," said the president of Toronto’s Lawrence Asset Management Inc.

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