Analysis-Investors already look beyond first-round French election relief
By Yoruk Bahceli and Samuel Indyk (Reuters) - Investors are sceptical that the relief rally after France's first-round parliamentary election can last, wary that the outlook for the country's creaking public finances will remain in focus with sever...
Jul 01, 2024
UBS completes merger of Swiss business with Credit Suisse
ZURICH (Reuters) - Swiss bank UBS has completed the merger of its domestic unit with Credit Suisse's operations in its home market, the bank said on Monday, adding that the head of the Credit Suisse business was leaving the bank. Andre Helfenstein,...
Jul 01, 2024
German inflation eases to 2.5% in June
By Maria Martinez BERLIN (Reuters) -German inflation fell more than expected in June, resuming its downward trend after two consecutive months of increases. Inflation eased to 2.5% in June, preliminary data from the federal statistics office showed on...
Jul 01, 2024
Bristol Myers to pay $2.7 million to settle Israel anti-competition charges
By Steven Scheer JERUSALEM (Reuters) - Bristol Myers Squibb has agreed to pay 10 million shekels ($2.7 million) in Israel to settle a potential case over its blocking of a generic version for anti-cancer drug Imnovid, Israel's Competition Authority...
Jul 01, 2024
Hedge funds miss post-French election stock jump, Goldman Sachs data shows
By Nell Mackenzie LONDON (Reuters) - Hedge funds betting on a rise in banking shares abandoned trades last week at the fastest pace since May 2021, according to a June 28 Goldman Sachs note, meaning they missed the sector's rally on Monday after th...
Jul 01, 2024
Activist investors mount record number of campaigns but win fewer board seats
By Svea Herbst-Bayliss NEW YORK (Reuters) - Activist investors mounted campaigns at a record number of companies globally during the first six months of 2024 but have been less successful in breaking into boardrooms as companies fought back effecti...
Jul 01, 2024
French debt risk premium falls from 12-year high after vote, but investors cautious
By Stefano Rebaudo (Reuters) - The premium investors demand to hold French government bonds fell from a 12-year high on Monday as analysts said a hung parliament remained the base case, raising hopes for a limited increase in fiscal spending that w...
Jul 01, 2024
Futures inch up as focus shifts to jobs data
(Reuters) - U.S. stock index futures edged higher on Monday ahead of manufacturing PMI data, with focus also on U.S. labor market numbers later in the week that will be parsed for cues on the Federal Reserve's monetary policy path. AI chip firm Nvi...
Jul 01, 2024
Amazon sidesteps carbon offset standard Bezos helped fund
By Virginia Furness (Reuters) - Amazon has become the first company to sidestep a global standard for verifying carbon offsets that was developed by a non-profit funded largely by the U.S. technology conglomerate's founder and executive chair, Jeff...
Jul 01, 2024
Stock influencer 'Roaring Kitty' discloses 6.6% stake in Chewy
(Reuters) - Keith Gill, the stock influencer known as "Roaring Kitty", on Monday disclosed a 6.6% stake in Chewy, sending shares of the pet products retailer 16% higher in premarket trading. The stake disclosure, in a filing with the U.S. Securitie...
Jul 01, 2024
South African factory activity contracts again in June - Absa PMI
JOHANNESBURG (Reuters) - South African manufacturing activity contracted again in June, a Purchasing Managers' Index (PMI) survey showed on Monday, reflecting weak demand. The seasonally-adjusted PMI for the factory sector was at 45.7 points in Jun...
Jul 01, 2024
UK manufacturing growth slows as shipping delays hit exports, PMI shows
LONDON (Reuters) - British manufacturing activity growth slowed last month from May's 22-month high as ongoing disruption to shipping in the Red Sea contributed to lower demand from overseas customers, a survey showed on Monday. S&P Global's UK Man...
Jul 01, 2024
Downturn in German manufacturing suffers fresh setback, PMI shows
By Maria Martinez BERLIN (Reuters) - The downturn in Germany's manufacturing sector, which accounts for about a fifth of Europe's biggest economy, experienced a fresh setback in June as output and new orders declined at a faster pace, a survey sho...
Jul 01, 2024
Euro zone factory activity decline deepens in June, PMI shows
LONDON (Reuters) - Manufacturing activity across the euro zone took a turn for the worse last month as demand fell at a much faster pace despite factories cutting their prices, a survey showed. HCOB's final euro zone manufacturing Purchasing Manage...
Jul 01, 2024
Anglo American shares fall after Australian mine suspension
(Reuters) - Shares in Anglo American slid 3% on Monday after the miner suspended production at its Grosvenor steelmaking coal mine in Australia following an underground fire that broke out over the weekend. Anglo American said on Sunday it was batt...
Jul 01, 2024
South African rand gains after Ramaphosa announces new cabinet
JOHANNESBURG (Reuters) - South Africa's rand strengthened in early trade on Monday after President Cyril Ramaphosa announced his new coalition cabinet, appointing the leader of the former opposition Democratic Alliance (DA) as agriculture minister....
Jul 01, 2024
Inflation down in five German states, pointing to national decline
By Maria Martinez BERLIN (Reuters) - Inflation fell in five important German states in June, preliminary data showed on Monday, suggesting that national inflation could decline this month. In Saxony, the inflation rate fell in June to 2.8% from 3....
Jul 01, 2024
London stocks climb on real estate support; election in focus
By Purvi Agarwal (Reuters) - London stocks kicked off the week on an upbeat note, supported by real estate shares and tracking gains from the European market amid a revival in hopes of rate cuts globally. The blue-chip FTSE 100 was up 0.4%, on trac...
Jul 01, 2024
Trans Mountain oil pipeline just shy of target for first-month loadings
By Arathy Somasekhar HOUSTON (Reuters) - About 20 ships loaded crude oil on Canada's West Coast in the first full month of operation on the newly expanded Trans Mountain pipeline, according to vessel-tracking data on Sunday, slightly below the oper...
Jul 01, 2024
European stocks rally after first round of French vote
(Reuters) - European stocks rallied on Monday, with French shares leading the way after the far-right National Rally (RN) party scored historic gains in the first round of parliamentary election, but by a smaller margin than what some polls had sug...
Jul 01, 2024
Analysis-French vote, China trade row cast cloud over European earnings
By Louis van Boxel-Woolf and Samuel Indyk LONDON (Reuters) - French political uncertainty and an EU trade spat with China are casting a shadow over European corporate earnings, investors say, despite forecasts that companies are set to deliver bett...
Jul 01, 2024
WestJet's union ends strike after reaching deal with carrier
(Reuters) -The union representing Canada's WestJet Airlines' striking mechanics said on Monday that it has negotiated a contract with the carrier, ending their strike immediately. Westjet said members would return to work to restore the network after t...
Jul 01, 2024
UK house prices edge up in June, lender Nationwide says
LONDON (Reuters) - British house prices rose by 0.2% in June from May, figures from mortgage lender Nationwide showed on Monday. Prices were 1.5% higher than in June last year, the data showed. (Reporting by William Schomberg; Editing by Kate Holton)
Jul 01, 2024
Jefferies says Anglo American coal fire likely to affect met coal sale
MELBOURNE (Reuters) - A fire at Anglo American's Grosvenor metallurgical coal mine in Australia is likely to negatively affect its Australian met coal business, broker Jefferies said in a note on Monday. Anglo American said on Sunday it was battlin...
Jul 01, 2024
Robust demand boosts India factory growth in June, PMI shows
By Shaloo Shrivastava BENGALURU (Reuters) - Activity in India's manufacturing sector rebounded last month as output increased on robust demand, leading to the fastest rate of hiring in over 19 years, despite inflationary pressures remaining elevate...
Jul 01, 2024