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London shares gained 0.7%, helped by a 2.3% jump for the mining sector, while Paris climbed 0.8%. The MSCI world equity index, which tracks shares in almost 50 countries, gained 0.1%. “Markets seem to be taking the Fed at its word but when we talk to clients there is concern about long-term inflation.”Euro area bond yields followed suit. “We still think consumers are going to help prices higher, when these economies reopen properly, that people can start travelling again, spending again,” said Jeremy Gatto, investment manager at Unigestion. “We are going to get a further boost from the consumption side, and we therefore expect bond yields to move higher.”The U.S. dollar slipped as yields dipped before edging back up.
Persons: Toby Melville, , Kiran Ganesh, , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, London, European Central Bank, Wall, Federal, . Labor Department, Treasury, UBS Global Wealth Management, , Japan, Investors, U.S, Brent Locations: United States, City, City of London, Britain, Paris, Europe, U.S, London, Asia, Pacific, coronavirus, Unigestion, China
Stocks hover near record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +3 min
The ECB’s projections pushed the pan-regional STOXX Europe 600 index up 0.68% to an intraday high and record close at 457.64. Investors are leaning into tech stocks because they don’t use raw materials and productivity rate is higher than other sectors, he said. “There is a concern that eventually you could get some migration out of stocks into bonds. But right now we seem to be at that pre-tipping point where bonds don’t yield enough to scare people out of stocks,” Meckler said. The dollar index rose 0.57%, with the euro down 0.61% to $1.2095.
Persons: Toby Melville, Rick Meckler, ” Meckler, , , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, European Central Bank, Cherry Lane Investments, Investors, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: City, City of London, Britain, Europe, breakeven, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
Stocks rally, dollar stable after jump in U.S. CPI data
  + stars: | 2021-06-10 | by ( Herbert Lash | Simon Jessop | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo/File PhotoMSCI’s all-country world index surged to a record intra-day high after the U.S. Labor Department earlier said the consumer price index in the 12 months through May accelerated 5.0%, the biggest year-on-year increase since August 2008. The benchmark 10-year U.S. Treasury yield rose 3.0 basis points to 1.5194% after the data’s release, while the dollar index was essentially flat, down 0.08%. A surprisingly strong U.S. inflation print in April spooked some investors, leading to a cautious run into the release on Thursday of the May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , Organizations: London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, Atlantic, European Central Bank, Morgan Locations: City, City of London, Britain, New York, Natixis, COVID, U.S, Treasuries
Stocks rally, yields drop as U.S. CPI data calms investors
  + stars: | 2021-06-10 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The report was largely in line with expectations, said Subadra Rajappa, head Of U.S. rates strategy at Societe Generale in New York. “The (equity) market is going to ignore the data. MSCI’s all-country world index rose 0.45% to 718.81, nudging past its previous record set Tuesday. In the United States, data showed people filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months. The dollar index fell 0.071%, with the euro down 0.07% to $1.217.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , MSCI’s, Thomas Hayes, ” Hayes, , Brent Organizations: YORK, Global, London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Societe Generale, Treasury, Americas, European Central Bank, Dow Jones, Nasdaq, Great, Great Hill Capital, ECB, U.S, West Texas Locations: City, City of London, Britain, New York, Natixis, Great Hill, United States
Stocks touch new highs as volatility eases
  + stars: | 2021-06-08 | by ( Herbert Lash | Marc Jones | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. MSCI’s benchmark for global equity markets fell 0.07% to 716.48 after earlier scaling a fresh intraday high. In Europe, the pan FTSEurofirst 300 index added 0.08% to close at a new record high, while the STOXX 600 index rose 0.15% to also set a new closing high. The equity market’s so-called “fear gauge,” the VIX, fell to as low as 15.15, a level not seen since February 2018. The dollar index rose 0.109%, with the euro down 0.08% to $1.2179.
Persons: Toby Melville, don’t, Sterling, We’ve, , Simon Maughan, Lombard Organizations: Equity, London Stock Exchange Group, City of, REUTERS, Treasury, European Central Bank, Dow Jones, Nasdaq, ECB, Nikkei, drugmakers, Brent Locations: City, City of London, Britain, Europe, Beijing, Asia
Forced relocation of swaps clearing to EU would harm bloc, says LSE
  + stars: | 2021-06-07 | by ( Huw Jones | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Britain’s access to the EU financial market was largely severed after Brexit fully took effect on Dec. 31, 2020 and LCH has permission to serve EU customers only until June 2022. Some industry officials fear mandatory relocation could push euro clearing to New York in the same way as EU curbs has done to trading in euro derivatives. EU companies accounted for only 27.1% of euro-denominated interest rate derivatives clearing volumes at LCH in London in 2020, with 72.9% coming from non-EU firms, LSEG said. This illustrated the international use of the euro and the need for EU firms to access international clearers to hedge their risks in euros as well as in other non-euro currencies, it added.
Persons: Toby Melville, Brexit, LCH, ” LSEG, LSEG, “ LCH Organizations: European Union, London Stock Exchange Group, City of, REUTERS, Deutsche Boerse’s Eurex, EU, European Central Bank Locations: London, City, City of London, Britain, Frankfurt, New York, LCH
UPDATE 1-Forced relocation of swaps clearing to EU would harm bloc, says LSE
  + stars: | 2021-06-07 | by ( Huw Jones | ) www.reuters.com sentiment -0.99   time to read: +2 min
The EU is studying how trillions of euros in interest rate swaps positions could be shifted from LSEG’s LCH clearing arm in London, where the bulk of the global market is cleared, to rival Deutsche Boerse’s Eurex in Frankfurt. Britain’s access to the EU financial market was largely severed after Brexit fully took effect on Dec. 31, 2020 and LCH has permission to serve EU customers only until June 2022. LCH is already directly supervised by the EU securities watchdog ESMA, LSEG added. Some industry officials fear mandatory relocation could push euro clearing to New York in the same way as EU curbs has done to trading in euro derivatives. EU companies accounted for only 27.1% of euro-denominated interest rate derivatives clearing volumes at LCH in London in 2020, with 72.9% coming from non-EU firms, LSEG said.
Persons: Brexit, LCH, ” LSEG, LSEG, “ LCH, Huw Jones, Toby Chopra, Pravin Char Organizations: European Union, London Stock Exchange Group, Deutsche Boerse’s Eurex, EU, European Central Bank Locations: London, Frankfurt, New York, LCH
The $15 billion fintech is beefing up its security team as threat sophistication increases. Payment company Checkout.com is beefing up its C-suite with a former Skype and JPMorgan security lead, as the $15 billion company looks to US expansion and an eventual listing. The startup is one of Europe's most valuable private companies, having raised $450 million at a $15 billion valuation in January, and draws comparisons to Stripe, currently the most highly valued US startup. Earlier this year, Checkout.com made two other big hires in the form of Ott Kaukver as chief technology officer and Nick Worswick as chief revenue officer. Information security spending and cloud security spending are both set to significantly increase in the coming years, according to Gartner.
Persons: Adrian Asher, Guillaume Pousaz, Checkout.com, Ott Kaukver, Nick Worswick, Kaukver, Asher, Pousaz Organizations: Skype, JPMorgan, London Stock Exchange Group, HSBC, Barclays Capital, Accel Partners, Adidas, Twilio, Gartner
British shares muted ahead of economic data; airlines skid
  + stars: | 2021-06-04 | by ( Devik Jain | ) www.reuters.com sentiment -1.00   time to read: +2 min
The blue-chip FTSE 100 index (.FTSE) edged 0.1% lower, with British airways owner IAG (ICAG.L) shedding 1.2% after Britain removed Portugal from its quarantine-free travel list and added seven more countries to its red list. read moreOther airlines including Ryanair Holdings , Wizz Air (WIZZ.L) and EasyJet fell between 1% and 2.6%. Asian shares tracked Wall Street lower as signs of a firming U.S. economy stoked worries about higher inflation and an earlier withdrawal of Federal Reserve stimulus. "I don't think tapering of asset prices is anything to be worried about, it's a natural consequence of an economic rebound. Software company Sage Group (SGE.L) fell 1.5% after Goldman Sachs offered to sell about 16 million shares at a discounted price.
Persons: Toby Melville, EasyJet, Michael Hewson, Hewson, brokerages, Goldman Sachs Organizations: London Stock Exchange Group, City of, REUTERS, Ryanair Holdings, Wizz, CMC Markets, U.S ., Software, Sage Group, Thomson Locations: City, City of London, Britain, Portugal, London, U.S
REUTERS/Toby Melville/File PhotoBanks and industrial stocks weighed on London's FTSE 100 on Friday, while airline stocks came under pressure as Britain tightened travel restrictions again. The blue-chip FTSE 100 index (.FTSE) edged 0.1% lower, with HSBC (HSBA.L), Prudential (PRU.L), Barclays (BARC.L) and Lloyds banking group (LLOY.L) down between 0.7% and 1.2% after weaker than expected U.S. jobs data pushed bond yields lower. British airways owner IAG (ICAG.L) lost 0.9% after Britain removed Portugal from its quarantine-free travel list and added seven more countries to its red list. The domestically focused mid-cap FTSE 250 index (.FTMC) was also little changed, nudging up 0.1%. After breaking above the 7,000 mark in mid-April, the FTSE 100 index has oscillated in a narrow range on worries that rapid economic growth could lead to higher inflation and faster tightening of ultra-loose monetary policies.
Persons: Toby Melville, EasyJet, Danni Hewson, AJ Bell, brokerages Organizations: London Stock Exchange Group, City of, REUTERS, HSBC, Prudential, Barclays, Lloyds, BHP Group, Rio Tinto, Ryanair Holdings, Wizz, Federal Reserve, Thomson Locations: City, City of London, Britain, Rio, Portugal, England
Stocks up, dollar down as U.S. jobs data soothe rate hike fears
  + stars: | 2021-06-04 | by ( Lawrence White | ) www.reuters.com + 0.00   time to read: +4 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Market whispers had been for a higher number, he added, that would somewhat counterintuitively have driven stocks down on fears the Fed would tighten policy earlier than expected. The dollar index fell 0.47% after the data release, down from a multi-week high hit earlier on Friday. Last month, much-lower-than-expected non-farm payrolls numbers knocked back those expectations, weakening Treasury yields and the dollar, and the pattern repeated on Friday. Brent futures rose 71 cents to $72.00 a barrel, after reaching the highest since May 2019 in Thursday’s session.
Persons: Toby Melville, “ It’s, , Gennadiy Goldberg, Joe Biden, IAG, WTI Organizations: Federal Reserve, London Stock Exchange Group, City of, REUTERS, Securities, greenback, Treasury, U.S, British Airways, Wizz, Britain, Stock Locations: City, City of London, Britain, U.S, New York, U.S . Federal, Egypt, Sri Lanka, England, Brent, Thursday’s
REUTERS/Toby Melville/File PhotoLondon's FTSE 100 index climbed on Wednesday, helped by gains in heavyweight energy and banking stocks, while Bloomsbury Publishing jumped on a robust earnings report. The blue-chip index (.FTSE) rose 0.4%, with oil majors BP (BP.L) and Royal Dutch Shell climbing 1.9% and 2.2% respectively, as crude prices extended gains. The FTSE 100 index has traded in a tight range since April as concerns grew that central banks might pare support early as economies reopen and inflation climbs. read moreGlobal stock markets hovered near record highs despite wary investors remaining unconvinced by central bank assurances that the current inflation upsurge is transient. [nL3N2NK1ZB]Burberry Group (BRBY.L) jumped 3.5% to the top of the FTSE 100 index after Exane BNP Paribas upgraded the stock to "outperform" from "neutral".
Persons: Toby Melville, Banks, Harry Potter, lockdowns, Danni Hewson, AJ Bell, pare, TATE.L, Berenberg Organizations: London Stock Exchange Group, REUTERS, Bloomsbury Publishing, BP, Royal, Shell, HSBC, Prudential Plc, Lloyds Banking Group, Barclays, OPEC, Bank of, Tate, Burberry, BNP, Thomson Locations: City, London, Britain
The former Skype and JPMorgan employee is the payment startup's third key executive hire this year. The $15 billion fintech is beefing up its security team as threat sophistication increases. Payment company Checkout.com is beefing up its C-suite with a former Skype and JPMorgan security lead, as the $15 billion company looks to US expansion and an eventual listing. The startup is one of Europe's most valuable private companies, having raised $450 million at a $15 billion valuation in January, and draws comparisons to Stripe, currently the most highly valued US startup. Information security spending and cloud security spending are both set to significantly increase in the coming years, according to Gartner.
Persons: Adrian Asher, Guillaume Pousaz, Checkout.com, Ott Kaukver, Nick Worswick, Kaukver, Asher, Pousaz Organizations: Skype, JPMorgan, London Stock Exchange Group, HSBC, Barclays Capital, Accel Partners, Adidas, Twilio, Gartner
Energy, consumer staples stocks boost FTSE 100; Bloomsbury jumps
  + stars: | 2021-06-02 | by ( Devik Jain | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Toby Melville/File PhotoLondon's FTSE 100 index climbed on Wednesday, helped by gains in heavyweight energy and consumer staples stocks, while Bloomsbury Publishing jumped following a strong earnings update. The blue-chip index (.FTSE) rose 0.4%, with oil majors BP (BP.L) and Royal Dutch Shell climbing 1.8% and 1.9% respectively, as crude prices extended gains. Large dollar-earning consumer staples companies including Reckitt Benckiser Group (RKT.L), Diageo (DGE.L) and Unilever (ULVR.L) provided the biggest boost to the index. The FTSE 100 index has traded in a tight range since April as concerns grew that central banks might pare support early as economies reopen and inflation climbs. Burberry Group (BRBY.L) jumped 2.6% to the top of the FTSE 100 index after Exane BNP Paribas upgraded the stock to "outperform" from "neutral".
Persons: Toby Melville, Harry Potter, lockdowns, Sebastien Galy, pare, TATE.L, Berenberg Organizations: London Stock Exchange Group, REUTERS, Bloomsbury Publishing, BP, Royal, Shell, Reckitt Benckiser, Diageo, Unilever, ECB, Nordea Asset Management, Tate, Burberry, BNP, Thomson Locations: City, London, Britain
Reuters postpones website paywall amid Refinitiv dispute
  + stars: | 2021-05-27 | by ( Kenneth Li | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Andrew KellyReuters News postponed the launch of its website paywall following a dispute with financial data provider Refinitiv over whether the move would breach a news supply agreement between the two companies. In a staff meeting on Thursday, Reuters Editor-in-Chief Alessandra Galloni confirmed that the news agency had paused the launch of the website paywall as well as the introduction of a new legal news section on the website, while discussions with Refinitiv to resolve the dispute were ongoing. Discussions with Refinitiv were "about our business approach and products, and how we can enhance our offer to all customers," the spokesman said. London Stock Exchange Group Plc (LSEG.L), the parent of Refinitiv, said discussions were ongoing. Refinitiv was part of Thomson Reuters until private equity firm Blackstone Group Inc (BX.N) acquired a majority stake in it in 2018.
Persons: Andrew Kelly, Alessandra Galloni, Refinitiv, Reuters ’, Blackstone, Josh London Organizations: Thomson Reuters, REUTERS, Andrew Kelly Reuters News, Reuters, Thomson Reuters Corp, London Stock Exchange Group, Blackstone Group Inc, LSE, Refinitiv, Bloomberg, Reuters News, Thomson Locations: Square , New York, U.S
Refinitiv boss Craig to leave parent LSEG at end of year
  + stars: | 2021-05-26 | by ( Huw Jones | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Toby Melville/File Photo/File PhotoCraig would serve in an advisory capacity from July and leave the company at the end of the year, the LSEG said in a statement. The takeover came into sharp focus on March 5 when LSEG shares tumbled more than 12% on higher-than-expected costs for improving the resilience of Refinitiv’s legacy platform. Craig became CEO of Refinitiv in 2018, having led the team that founded the company out of the financial and risk division of Thomson Reuters. “With credit to David, he took a long-term view when he first recruited Andrea,” LSEG CEO David Schwimmer said in the statement. (Graphic: LSEG shares - )
Persons: David Craig, Andrea Remyn Stone, Toby Melville, Craig, Blackstone, LSEG, Stone, , ” Stone, David, Andrea, , David Schwimmer, Schwimmer, Refinitiv Organizations: London Stock Exchange, Bloomberg, London Stock Exchange Group, City of, REUTERS, London bourse, Refinitiv, Thomson Reuters, Reuters News, Reuters Locations: City, City of London, Britain, London, Dealogic, Refinitiv, LSEG
Refinitiv boss David Craig to leave parent LSEG end of year
  + stars: | 2021-05-26 | by ( Reuters Staff | ) www.reuters.com + 0.84   time to read: 1 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo/File Photo(Reuters) - London Stock Exchange Group said on Wednesday David Craig, chief executive officer of its Refinitiv data and analytics business, would be leaving the group at the end of 2021 and has promoted Andrea Remyn Stone to succeed him. The London bourse operator had completed its $27 billion purchase of Refinitiv earlier this year. Thomson Reuters, the parent company of Reuters News, holds a 15% stake in LSEG following the Refinitiv deal.
Persons: Toby Melville, David Craig, Andrea Remyn Stone, Thomson Organizations: London Stock Exchange Group, City of, REUTERS, London Stock Exchange, London bourse, Thomson Reuters, Reuters Locations: City, City of London, Britain, London, LSEG
Banks, miners drag FTSE 100 lower; retail sales surge
  + stars: | 2021-05-21 | by ( Shivani Kumaresan | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) -London’s FTSE 100 fell on Friday and was set to post a weekly loss, as banks and mining stocks declined, while retail sales jumped as the country reopened after months of severe business restrictions. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby MelvilleThe blue-chip index slid 0.6%, with banks, including HSBC Holdings, Prudential Plc, and Standard Chartered, being the biggest drag. Miners Anglo American Plc, Glencore Plc, and Rio Tinto fell between 0.4% and 0.8%. Card Factory slid 13.7% after reporting a marginal drop in like-for-like store sales, compared with 2019, after the UK began reopening stores and eased restrictions in April.
Persons: Toby Melville, , , James Smith, pare Organizations: Reuters, London Stock Exchange Group, City of, REUTERS, HSBC Holdings, Prudential Plc, Standard Chartered, Miners, American Plc, Glencore Plc, Rio Tinto, ING, , Viridor Waste Management, Card Factory Locations: City, City of London, Britain, Rio
The Philadelphia Federal Reserve Bank said its business activity index fell to 31.5 from 50.2 in April, its highest pace in nearly half a century. read moreThe S&P 500 technology index (.SPLRCT) was up 1.6%. The pan-European STOXX 600 index (.STOXX) rose 1.23% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.87%. The yield on benchmark 10-year Treasury notes fell 4.3 basis points to 1.640% and the breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) US5YTIP=RR slid to 2.608%. The dollar index fell 0.36%, with the euro up 0.3% to $1.2208.
Persons: Toby Melville, Cryptocurrencies, Steven Ricchiuto, We've, Ricchiuto, cryptocurrencies, Cathie Wood, Tesla's Elon Musk, Brent Organizations: London Stock Exchange Group, City of, REUTERS, Wall, U.S, Treasury, Philadelphia Federal Reserve Bank, Dow Jones, Nasdaq, Securities, Mizuho Securities USA, West Texas Intermediate, Thomson Locations: City, City of London, Britain, China, West Texas Intermediate U.S
Industrials push FTSE 100 higher; Trainline slumps
  + stars: | 2021-05-20 | by ( Shivani Kumaresan | Devik Jain | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: People walk past the London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. Banks and healthcare stocks, including HSBC Holdings, Prudential Plc, AstraZeneca Plc and Smith & Nephew, were also among the biggest boosts on the index. Publisher Future surged 9.6% to the top of index after Deutsche Bank raised its price target on the stock. Globally, stock markets saw a tentative rebound and bitcoin bounced more than 12% after one of its spectacular smashes, though tapering talk from the U.S. Federal Reserve kept bond markets under pressure. Among other stocks, Trainline tumbled 23.2% to eye its worst day on record.
Persons: Trainline, Toby Melville, bitcoin, they’re, , Russ Mould, AJ Bell, pare Organizations: Reuters, London Stock Exchange Group, City of, REUTERS, HSBC Holdings, Prudential Plc, AstraZeneca Plc, Smith, Nephew, Deutsche Bank, U.S . Federal Reserve, FTSE, British Locations: City, City of London, Britain, British Railways
Stocks digest taper talk; cryptos bounce after beating
  + stars: | 2021-05-20 | by ( Marc Jones | ) www.reuters.com + 0.00   time to read: +5 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. [.EU]Bitcoin was up 12.5% at over $41,000 having nearly slid though $30,000 on Wednesday and been almost at $65,000 just over a month ago. Wall Street was expected to open subdued again [.N] but Europe’s stocks clawed back 0.6% helped by telecoms earnings and talk that Italian microchip heavyweight STMicroelectronics was eyeing up a Norwegian rival. Musk had tweeted the ‘diamond hands’ emojis on Wednesday that traders on social media use as a sign they won’t sell. Outages at several major trading platforms during the maelstrom, which also set ether tumbling nearly 50%, also did little to inspire confidence.
Persons: bitcoin, Toby Melville, Bitcoin, China’s, Ben, Rob Carnell, Treasuries, Elon, Musk, emojis, “ It’s, , Chris Weston, QE, Fitch, Katherine Marney Organizations: U.S . Federal Reserve, London Stock Exchange Group, City of, REUTERS, Commodities, Federal, ING, Bund, Nasdaq, CRYPTO, Traders, P Global Locations: City, City of London, Britain, EU, Norwegian, U.S, Singapore, Zealand, bitcoin, Melbourne, Colombia
London Stock Exchange Group Plc (LSEG.L) said on Thursday it was in talks with Thomson Reuters Corp (TRI.TO) over their agreement to distribute news content, following a dispute over whether Reuters News could put up a paywall on its website. Reuters News, a unit of Thomson Reuters, recently announced plans to start charging customers $34.99 per month for news on its website, Reuters.com. The LSE bought financial news and information business Refinitiv, formerly a division of Thomson Reuters. In a joint statement, the LSE and Thomson Reuters said "there are ongoing and private discussions about our business approach and products." "The foundation of our partnership is strong and we will continue to work together to deliver for all of our customers," the joint statement said.
Organizations: London Stock Exchange Group, Thomson Reuters Corp, Reuters, Thomson Reuters, LSE, Thomson
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby MelvilleThe blue-chip index rose 0.02%, with banks, mainly HSBC Holdings, Lloyds Banking Group and Standard Chartered gaining between 0.8% and 1.5%. Consumer discretionary stocks, including Compass Group, Kingfisher and Just Eat Takeaway.com also provided the biggest boost to the index. Mobile operator Vodafone Group fell 8.9% on reporting a 1.2% drop in annual adjusted earnings, as COVID-19 hit roaming revenue and handset sales. Fund managers loaded up on UK stocks and cut exposure to technology stocks as rising inflation and “taper tantrum” fears leave growth stocks vulnerable to pull-backs, Bank of America’s May fund manager survey released on Tuesday found.
Persons: Toby Melville, Sophie Griffiths, Oxford Biomedica Organizations: Reuters, Vodafone, London Stock Exchange Group, City of, REUTERS, HSBC Holdings, Lloyds Banking Group, Standard, Compass Group, Kingfisher, Mobile, Vodafone Group, EMEA, Bank of America’s, Oxford, drugmaker AstraZeneca, Imperial Brands Locations: City, City of London, Britain, OANDA,
REUTERS/Toby MelvilleThe bounce, extending a late recovery in the prior session, interrupted a three-day rout for stocks globally, amid market jitters over accelerating U.S. inflation. “From 2004 to 2008 the Fed raised rates from 1 to 5.25 percent. “Stocks with more attractive valuations and slower growth will do well in a higher interest rate environment. “Either the US inflation uptick is temporary, or the Fed is dangerously complacent. Either way, we’re going to see tolerance of higher inflation tested further in the months ahead.”BITCOIN BOUNCEGold extended gains to trade up 0.5% at $1,834 an ounce, helped by the pullback in the dollar.
Persons: Toby Melville, Christopher Waller, , Louise Dudley, Dudley, Kit Juckes, Brent, bitcoin, Elon Musk Organizations: Federal, London Stock Exchange Group, City of, REUTERS, Tokyo’s Nikkei, Japan, Nasdaq, Fed, Global, Dallas Federal Reserve, European Central Bank, Treasury, Generale, U.S, West Texas, Tesla Inc Locations: TOKYO, City, City of London, Britain, Europe, Asia, Pacific, Federated, U.S, India
(Reuters) -London’s FTSE 100 fell on Thursday, dragged down by heavyweight commodity stocks and Burberry Group after an underwhelming earnings update, while fears of a spike in inflation as the economy recovers hurt demand for equities. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby MelvilleThe blue-chip index slipped 2.3% to its lowest level since April 7. Globally, stocks slipped after a shocking rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening. Canadian computer chip designer Alphawave IP Group’s shares tumbled 15% in their London market debut.
Persons: Toby Melville, , Connor Campbell, choppiness Organizations: Reuters, Burberry Group, London Stock Exchange Group, City of, REUTERS, Burberry, BP, Royal, Shell, Reserve, Spreadex, BT Group, Iron Mountain Inc Locations: City, City of London, Britain, Canadian, London
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