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The Consumer Price Index (CPI) for July, due on Thursday, is expected to show a slight year-over-year acceleration. On a month-to-month basis, consumer prices are seen increasing 0.2%, the same rate as in June. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. ET, Dow e-minis were up 44 points, or 0.12%, S&P 500 e-minis were up 9 points, or 0.20%, and Nasdaq 100 e-minis were up 31.5 points, or 0.21%. Of the 443 S&P 500 companies that have reported earnings as of Tuesday, 78.6% beat analyst expectations, according to Refinitiv data.

Persons: Patrick Harker, Michelle Bowman, FEDWATCH, Brendan McDermid, Michael Hewson, Penn Entertainment's, Walt Disney's, Uber, Bansari Mayur, Shounak Dasgupta Organizations: Penn, Dow, Nasdaq, Federal Reserve, Index, Philadelphia Fed, Traders, Bank of America, Citigroup, New York Stock Exchange, REUTERS, ECB, Bank of England, CMC Markets, Dow e, Casino, Walt, Walt Disney's ESPN, Rivian, Thomson Locations: U.S, New York City, Asia, Bengaluru

☆ Champagne sales are booming. But its taste could soon change forever — thanks to climate change
▼ + stars: | 2023-08-08 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

More than 325 million bottles of champagne were shipped from Champagne in 2022, according to Comité Champagne. More than 325 million bottles of champagne were shipped from Champagne in 2022, surpassing 6 billion euros ($6.6 billion) in sales for the first time, according to champagne trade association Comité Champagne. International brands are aware of the huge impact climate change can have on their businesses. A bar tender pours a bottle of Taittinger Champagne. Matt Hodson Founder of English wine retailer Grape Britannia

Persons: Comité Champagne, Dave Kotinsky, Sandrine Sommer, Moët Hennessy, Matt Hodgson, Francois Nascimbeni, Hodgson, Sommer, Champagne, Claire Sarazin, Tom Hewson Champagne, Sarazin, Tom Hewson, Susy Atkins, who've, Atkins, Taittinger, Pommery, Carlo Paloni, Matt Hodson Organizations: Getty, CNBC, Afp, Bafta Locations: Champagne, United States, Britain, Japan, Ville, Reims, France, Montgueux

[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Investor attention will be squarely on the July U.S. non-farm payrolls report, with a Reuters survey of 80 economists expecting payrolls to have increased by 200,000 last month, after rising 209,000 in June. "Today’s U.S. payrolls data is likely to continue to showcase the resilience of the U.S. economy," Michael Hewson, chief market analyst at CMC Markets, said in a note. The dollar meanwhile rose 0.1% against a basket of major currencies , heading for its third weekly gain in a row. Oil prices headed for a sixth straight weekly gain, driven up by the prospect of reduced supply from Saudi Arabia and Russia.

Persons: Toby Melville, payrolls, Michael Hewson, Germany's DAX, Francesco Sandrini, Fitch, Brent, Ankur Banerjee, Muralikumar Anantharaman, Kirsten Donovan, Alexander Smith Organizations: London Stock Exchange Group, City of, REUTERS, Treasury, U.S . Federal, CMC Markets, FTSE, Nasdaq, Apple, Bank of England, U.S ., U.S . Treasury, Thomson Locations: City, City of London, Britain, U.S, United States, Saudi Arabia, Russia, Singapore

☆ Gloomy data makes investors more cautious on world economy
▼ + stars: | 2023-08-01 | by ( Lawrence Delevingne | Thomson Reuters | Delevingne Works Primarily On Enterprise Stories Related To Finance. He Joined Reuters In | ) www.reuters.com time to read: +4 min

[1/3] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. European stocks (.STOXX) fell 0.9%, stepping back from a 2% increase in July, the index's second month of gains. UK stocks (.FTSE) also fell 0.4%, though HSBC (HSBA.L) climbed 1.3% after announcing a $2 billion share buyback and raising its key profitability target. U.S. Treasury yields rose on Tuesday with 30-year paper touching a new year-high as investors expected an increase in government debt issuance and anticipated more signs of economic resilience, despite data showing a slowdown in activity. China's stumbling post-pandemic recovery remained in focus, for instance, after a surprise contraction in manufacturing in a private-sector survey released Tuesday.

Persons: Brendan McDermid, Michael Hewson, Ronald Temple, Brent, Lawrence Delevingne, Tom Wilson, Kevin Buckland, Angus MacSwan, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Dow Jones, Nasdaq, Merck & Co, Pfizer, Caterpillar Inc, HSBC, . Federal, CMC Markets, U.S, Lazard, Fed, Energy, BP, Bank of, Thomson Locations: New York City, U.S, China, Asia, Boston, London, Tokyo

☆ A CEO quits and the BBC apologizes to Trump ally Nigel Farage. A banking scandal erupts in Britain
▼ + stars: | 2023-07-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +9 min

Alison Rose, NatWest chief executive, (right) departs 10 Downing Street in London, after meeting with Chancellor Jeremy Hunt. Prime Minister Rishi Sunak and several members of his Conservative government issued statements condemning the bank and characterizing the termination of Farage's account as an affront to free speech. Farage was offered an alternative account at regular main street bank NatWest, but declined. His critics maintain that although frequent references are made to Farage's political profile and controversial views, the reasons outlined for allowing the banking relationship to lapse were primarily commercial, and he was not "de-banked" as he claims. Without the mortgage, the bank indicated that Farage's account value would fall below its commercial criteria.

Persons: Jonathan Bachman, Alison Rose, Nigel, Coutts, Rose, Danni Hewson, AJ Bell, Farage, Coutts —, Chancellor Jeremy Hunt, James Manning, Rishi Sunak, Nigel Farage, —, DANIEL LEAL, Donald Trump, Vladimir Putin, Frances Coppola, Coppola, Dave Rushen Organizations: Getty, LONDON, NatWest, BBC, UBS, Conservative, Brexit Party, Independence Party Leader, U.K, Independence Party, UKIP, Sky News, NatWest Group, Company Locations: London, U.K, inclusivity, Leicester, British

Second-quarter earnings are gathering momentum, with Tesla (TSLA.O) due to report on Wednesday, while Bank of America (BAC.N), Morgan Stanley (MS.N), Goldman Sachs (GS.N) and Netflix (NFLX.O) are also lined up through the rest of the week. Of the 30 companies in the S&P 500 that have reported earnings as of Friday, 80% beat analyst expectations, according to Refinitiv data. In trading before the bell, Tesla <TSLA.O> gained 1.6% after the company said on Sunday it had built its first Cybertruck, after two years of delays. Lackluster Chinese economic data weighed on investors' minds on Monday as the world's second largest economy grew at a frail pace in the second quarter. During the week, investors also await retail sales and new homes figures for June.

Persons: Morgan Stanley, Goldman Sachs, JPMorgan Chase, Danni Hewson, AJ Bell, Bansari Mayur, Nivedita Bhattacharjee, Maju Samuel Organizations: Dow, Nasdaq, Bank of America, Netflix, Dow e, Federal Reserve, JPMorgan, Citigroup, Activision, Microsoft, PlayStation, Federal Trade, Meta, Thomson Locations: Norway, Wells Fargo, U.S, Bengaluru

Alphabet shares were outperforming the broader market, with the S&P 500 (.SPX) up 0.6%, boosted by data showing signs of cooling inflation. Clearly they've been able to reassure European regulators about those issues, which just paves the way for further advantage really," said Hewson. Alphabet shares, which have seen a huge boost from investor excitement around generative artificial intelligence since February, are up around 41% so far this year. Microsoft shares are up 42% so far in 2023. Also on Thursday, TD Cowen raised its price target for Alphabet shares to $140 from $130 citing expectations of better growth in its search business.

Persons: Bard, watchdogs, Danni Hewson, AJ Bell, they've, Hewson, Art Hogan, Riley, TD Cowen, Bansari Mayur, Sinéad Carew, Conor Humphries Organizations: Inc, European Union, Google, Microsoft Corp, Microsoft, Thomson Locations: Europe, Brazil, Bengaluru, New York

SummaryCompanies Delta rises on FY profit forecast raisePepsiCo gains on lifting FY revenue, profit outlookJune PPI data due at 8:30 a.m. A slower rise in prices has boosted hopes that the Federal Reserve could soon end its monetary tightening campaign. Economists polled by Reuters expect producer inflation to have eased to 0.4% over the 12 months through June from 1.1% in the previous month. ET, Dow e-minis were up 54 points, or 0.16%, S&P 500 e-minis were up 15 points, or 0.33%, and Nasdaq 100 e-minis were up 107.25 points, or 0.69%. Overall, earnings for the S&P 500 constituents are expected to have dropped 6.4% in the second quarter, Refinitiv data showed.

Persons: Michael Hewson, Walt Disney, Robert Iger's, Christopher Waller, Johann M Cherian, Saumyadeb Chakrabarty, Maju Samuel Organizations: PepsiCo, Dow, Nasdaq, Federal Reserve, Reuters, Traders, CMC Markets, Dow e, Delta Air Lines, Meta, Fed, Thomson Locations: Bengaluru

☆ British workers keep getting pay raises — despite the Bank of England urging them not to ask for more money
▼ + stars: | 2023-07-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Both Bank of England Governor Andrew Bailey and U.K. Finance Minister Jeremy Hunt on Monday told an audience in the City of London that high wage settlements were harming their efforts to contain inflation. Much of the increase in pay has been driven by the private sector, with annual wage growth increasing to 7.6% in the three months to April. However, Bank of England Governor Bailey noted in his Mansion House speech on Monday that the British economy has proven unexpectedly resilient. Last summer saw a slew of strikes and protests as real wages, which reflect the power of a worker's pay after accounting for inflation, declined at a record rate. "No question about it, current nominal wage growth remains far too high relative to the sustainable rate of probably around 3.5-4.0% yoy.

Persons: Mark Kerrison, Andrew Bailey, Jeremy Hunt, Stuart Cole, BoE, Rishi Sunak, Danni Hewson, AJ Bell, Bank of England Governor Bailey, Sanjay Raja, Raja, Equiti's Cole, Bailey, Kallum Pickering, Pickering Organizations: National Education Union, Department for Education, Getty, LONDON, Bank of England, National Statistics, . Finance, City of, Equiti, Monetary, Deutsche Bank, MPC, Treasury, Bank, The, England's Locations: London, United Kingdom, City, City of London, Ukraine

The pan-European STOXX 600 (.STOXX) ended 0.7% higher, rising for the third straight session. Irish stocks (.ISEQ) jumped 2.1%, leading the advance among its continental peers. Irish stocks were boosted by gains in Kingspan (KSP.I) which jumped 15.7% after forecasting record profit for the first half of the year. Shares of China-exposed luxury firms including LVMH (LVMH.PA), Hermes (HRMS.PA) and Richemont (CFR.S) rose between 2% and 2.3% while industrial stocks (.SXNP) also sensitive to China advanced 1.0%. Mercedes-Benz Group (MBGn.DE) shares rose 0.7% after sales in the second quarter rose 6% year-on-year on the back of demand for all-electric and top-end vehicles.

Persons: Michael Hewson, Richard Flax, Matteo Allievi, Shreyashi Sanyal, Rashmi Aich, Nivedita, Emelia Organizations: Miners, U.S . Federal Reserve, LVMH, CMC Markets, tomorrow's U.S, Nordic Semiconductor, Daimler, Benz Group, Thomson Locations: China, Kingspan, Europe, U.S, tomorrow's, Britain, Gdansk, Amruta, Bangalore

☆ Meta takes aim at Twitter with Threads app, millions join
▼ + stars: | 2023-07-06 | by ( Katie Paul | ) www.reuters.com time to read: +5 min

Welcome to Threads," Meta CEO Mark Zuckerberg wrote in his first post on the app, along with a fire emoji. Others saw the launch of Threads as an opportunity to create a less toxic version of Twitter. Much like Twitter, the app features short text posts that users can like, re-post and reply to, although it does not include any direct message capabilities. Instagram users who sign up for Threads automatically have a badge affixed to their Instagram profile, but can opt to hide it. Zuckerberg, responding to a user who predicted Twitter's demise about an hour after the Threads launch, cautioned patience.

Persons: Elon Musk, Kim Kardashian, Jennifer Lopez, Representative Alexandria Ocasio, Mark Zuckerberg, Meta, Danni Hewson, AJ Bell, Cortez, Zuckerberg, Musk, hasn't, Instagram, Ryan Detert, Jack Dorsey, Dorsey, Katie Paul, Sheila Dang, Jamie Freed, Josh Ye, Brenda Goh, Chavi Mehta, Bansari, David Gregorio, Christopher Cushing, Edwina Gibbs Organizations: YORK, Wednesday, Democratic U.S, Representative, Twitter, Spiderman, Meta, TWITTER, Brands, Billboard, HBO, NPR, Netflix, Thomson Locations: Cortez, Las Vegas, Instagram

☆ Zuckerberg-Musk fight's first round: Meta launches 'Twitter Killer' Threads app
▼ + stars: | 2023-07-06 | by ( Katie Paul | ) www.reuters.com time to read: +6 min

[1/2] Meta's Threads app and Twitter logos are seen in this illustration taken July 4, 2023. Welcome to Threads," Zuckerberg wrote in his first post on the app, along with a fire emoji. Instagram users who sign up for Threads automatically have a badge affixed to their Instagram profile, but can opt to hide it. "The reality is that Meta doesn't need to convert Twitter power users into Threads users" to succeed, she said. Zuckerberg, responding to a user who predicted Twitter's demise about an hour after the Threads launch, cautioned patience.

Persons: Dado Ruvic, Mark Zuckerberg, Elon Musk, ramping, Zuckerberg, Meta, Danni Hewson, AJ Bell, Musk, hasn't, Instagram, Shakira, Sheryl Sandberg, Ryan Detert, Jack Dorsey, Dorsey, Jasmine Enberg, Katie Paul, Sheila Dang, Chavi Mehta, Bansari, David Gregorio, Christopher Cushing Organizations: REUTERS, Twitter, Brands, Billboard, HBO, NPR, Netflix, Meta, Insider Intelligence, Thomson Locations: Las Vegas, Instagram

☆ Zuckerberg-Musk fight is on: Meta launches 'Twitter Killer' Threads app
▼ + stars: | 2023-07-06 | by ( Katie Paul | ) www.reuters.com time to read: +5 min

[1/2] Meta's Threads app and Twitter logos are seen in this illustration taken July 4, 2023. Welcome to Threads," Zuckerberg posted on the app, along with a fire emoji. "I find it hard to imagine that the most avid loyal Twitter users who go to Twitter for that type of culture will defect and go immediately to Threads." Still, she said, Meta only needs to convince a quarter of Instagram's users to join Threads in order to rival Twitter's size. "The reality is that Meta doesn't need to convert Twitter power users into Threads users."

Persons: Dado Ruvic, Mark Zuckerberg, Elon Musk, Zuckerberg, Meta, Danni Hewson, AJ Bell, Musk, Matt Navarra, Shakira, Sheryl Sandberg, Ryan Detert, Jack Dorsey, Dorsey, Jasmine Enberg, Katie Paul, Sheila Dang, Chavi Mehta, Bansari, David Gregorio, Christopher Cushing Organizations: REUTERS, Twitter, Meta, Google, Brands, Billboard, HBO, Variety, Insider Intelligence, Thomson Locations: Las Vegas, Instagram

European stocks (.STOXX) slipped 0.6%, heading for their first daily loss in eight sessions, with German shares (.GDAXI) down the same amount. The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, fell 0.2%. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.8% after the China data. Japan's Nikkei (.N225) also fell 0.3% on profit-taking after climbing to three-decade highs. Brent crude futures fell 0.3% to $75.97 a barrel after climbing 2.1% overnight.

Persons: Michael Hewson, Guy Miller, Brent, Tom Wilson, Stella Qiu, Dhara, Sam Holmes, Helen Popper, Christina Fincher Organizations: Global, Federal, Independence, CMC Markets, Reuters, Zurich Insurance Group, U.S, Japan's Nikkei, Thomson Locations: SYDNEY, China, U.S, Europe, United States, Asia, Pacific, Japan, Tokyo, Saudi Arabia, Russia, London, Sydney

Wall Street was set for losses, too, with S&P 500 futures and Nasdaq futures down 0.2%-0.4%. The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, fell 0.2%. The U.S. dollar drifted near the middle of its range of the past three weeks against major peers, with the dollar index down 0.1% to 102.99, after tracking between 103.75 and 102.75 since early June. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.7% after the China data. Brent crude futures fell 0.2% to $76.05 a barrel after climbing 2.1% overnight.

Persons: Michael Hewson, Guy Miller, Brent, Tom Wilson, Stella Qiu, Dhara, Sam Holmes, Helen Popper Our Organizations: Nikkei, Global, Federal, Nasdaq, CMC Markets, Reuters, Zurich Insurance Group, U.S, Japan's Nikkei, Thomson Locations: SYDNEY, U.S, United States, Asia, Pacific, Japan, China, Saudi Arabia, Russia, London, Sydney

Earlier in the day, Australia's central bank held interest rates steady, but reiterated its warning that further tightening might be needed to cool prices. However, a 2.7% increase in real estate stocks (.SX86P) helped keep the STOXX 600 steady, while healthcare stocks (.SXDP) rebounded from the previous day's sharp declines. Travel and leisure (.SXTP) stocks edged higher as Irish airline Ryanair's(RYA.I) upbeat monthly traffic numbers helped sentiment for the sector. Britain's second-largest supermarket group Sainsubury (SBRY.L) fell 1.8% as fierce competition in the sector took shine off its robust quarterly sales. German chip firm Aixtron (AIXGn.DE) dropped 0.5% after China said it will control exports of some metals widely used in the semiconductor industry.

Persons: Michael Hewson, Stuart Cole, Amruta Khandekar, Shreyashi Sanyal, Dhanya Ann Thoppil, David Gregorio Our Organizations: U.S, Independence, CMC Markets, EU, Fed, ECB, European Central Bank, Equiti, Wall, Thomson Locations: China, U.S, Bengaluru

July 3 (Reuters) - Rivian Automotive (RIVN.O) beat market estimates for second-quarter deliveries on higher production and stable demand for its electric vehicles, sending the company's shares up more than 14% on Monday. Rivian, which makes R1T pickup trucks and R1S SUVs, delivered 12,640 vehicles in the second quarter, compared with Visible Alpha estimates of 11,000 vehicles. The company made 13,992 vehicles at its facility in Normal, Illinois, which was 4,597 more than in the first quarter. Rivian's production and delivery numbers come just a day after Tesla beat estimates with record deliveries in the second quarter. Rivian posted a smaller loss in the first quarter in May and its finance chief said last month the company expects demand to remain stable through 2023.

Persons: Tesla, Rivian, Needham, Chris Pierce, Danni Hewson, AJ Bell, Chavi Mehta, Vinay Dwivedi, Shounak Organizations: Rivian, EV, Thomson Locations: Normal , Illinois, Bengaluru

☆ Italy may have dodged a ‘pasta strike’ but food inflation is still high. Here’s why
▼ + stars: | 2023-06-29 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

But it shelved the plan, citing “noticeable” falls in pasta prices. Pasta prices dipped in May compared with April, though provisional official data released Wednesday showed that they ticked up again this month. Broader food price inflation, albeit slowing, is still high in Italy and elsewhere. Concerns have grown that retailers and food producers are deliberately keeping prices high to boost profit margins — claims they strenuously deny. That meant they had “locked in higher prices” for longer, he told a gathering of central bankers in Portugal.

Persons: Danni Hewson, AJ Bell, Pasta, Remo Casilli, Andrew Bailey, “, Mintec, Andrew Woods, ”, Jack Allen, Reynolds, That’s, Christine Lagarde, ” Nestlé, ” Lagarde, Jeremy Hunt, —, Cristiano Laurenza, ” — Valentina Di Donato, Hanna Ziady Organizations: London CNN, CNN, ”, Bank of England, Labor, European Union, Capital Economics, European Central Bank, Wednesday, Competition, Markets Authority, Unione Italiana Food Locations: Italian, Italy, United Kingdom, United States, France, Germany, Russia, Ukraine, Cecco's, Fara San Martino, Portugal, Europe, European, “, Sweden

The pan-European STOXX 600 index (.STOXX) closed 0.7% higher, tracking overnight gains in Wall Street. Shares of Sage Group Plc (SGE.L) gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral". Shares of chip equipment maker ASML Holding (ASML.AS) rose 2.3% while Nordic Semiconductor (NOD.OL) jumped 6.4%, making technology (.SX8P) among the top European sectoral gainers. Semiconductor shares were in focus after a report stated the U.S. was considering new restrictions on exports of artificial intelligence chips to China. Also boosting the STOXX 600, Roche Holding (ROG.S) gained 1.5% after the U.S. health regulator declined to approve Regeneron's (REGN.O) Eylea drug.

Persons: Christine Lagarde, Jerome Powell, what's, Danni Hewson, AJ Bell, Morgan, Hewson, Roche, Morgan Stanley, Christian Klein, Matteo Allievi, Subhranshu Sahu, Sherry Jacob, Phillips, Alex Richardson Organizations: Sage Group, UBS, CS, . Federal, ASML, Nordic Semiconductor, Semiconductor, Carrefour, Credit Suisse, SAP, Thomson Locations: Wall, U.S, China, Swiss, Gdansk, Amruta, Bangalore

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 26, 2023. Asian shares received a boost from Chinese Premier Li Qiang saying Beijing will roll out policies to boost China's economy. But the positive market sentiment faded in early European trading, with the pan-European STOXX 600 down 0.4% by 1149 GMT (.STOXX). MSCI's Europe index (.MSER) was down 0.1%, London's FTSE 100 lost 0.3% and Germany's DAX declined 0.1% (.GDAXI). It hit a seven-month high against China's yuan as investors braced for the possibility of China doing more to support the currency.

Persons: Li Qiang, Germany's DAX, Hani Redha, Christine Lagarde, Analysts, Wagner, Vladimir Putin's, Michael Hewson, Shunichi Suzuki, Elizabeth Howcroft, Ed Osmond, Mark Heinrich Our Organizations: REUTERS, Staff LONDON, PineBridge Investments, U.S . Federal Reserve, Nasdaq, Monetary, European Central Bank, Wagner Group, CMC Markets, U.S, ECB, U.S ., Finance, Thomson Locations: Frankfurt, Germany, Europe, United States, Beijing, Russia, U.S, China

☆ Shares of UK online supermarket Ocado soar on talk of Amazon bid interest
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 22 (Reuters) - Ocado Group (OCDO.L) shares surged by over 40% on Thursday after The Times newspaper reported speculation of possible bid interest in the online supermarket and technology group recently squeezed by a cost of living crisis in the UK. The Times noted there was talk of bid interest from more than one U.S. suitor including tech heavyweight Amazon (AMZN.O), pondering the merits of an offer worth 800 pence per share. Ocado declined to comment on either the stock's rise or the Times report. An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. Shares in Ocado rose as much as 46.7% and were briefly on track for their biggest one-day jump on record.

Persons: AJ Bell, Danni Hewson, Toby Melville, Ocado's, Ocado, Spencer, Danilo Masoni, James Davey, Muvija, Mike Holden, Susan Fenton Organizations: Ocado, The Times, Times, Amazon, REUTERS, Jefferies, Marks, Thomson Locations: U.S, London, Britain

The continent-wide European STOXX 600 (.STOXX) index rose 0.5%. The index gained 1.5% in the policy-packed week, its best performance in over two months. China-focused luxury stocks such as LVMH (LVMH.PA) and Richemont (CFR.S) gained nearly 3% each, boosting the broader STOXX 600. Defensive shares such as healthcare (.SXDP) gained 0.9%, and utilities (.SX6P) climbed 1.3% to a four-week peak. The STOXX 600 broke away from a restrictive 1% trading range that was seen for much of the past two weeks, as investors gradually start putting behind major central bank events.

Persons: Travis Perkins, DAX, Germany's DAX, Danni Hewson, AJ Bell, Hewson, Shreyashi Sanyal, Siddarth, Sohini Goswami, Sherry Jacob, Phillips Organizations: European Central Bank, U.S, U.S . Federal, Bank of Japan, Bank of, Britain's, Rheinmetall, Apollo Global Management, Claure Group, Thomson Locations: China, U.S ., Stockholm, Millicom, Bengaluru

☆ Shares get a tech boost; dollar dithers ahead of inflation data
▼ + stars: | 2023-06-13 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 9, 2023. REUTERS/StaffLONDON, June 13 (Reuters) - Global shares rose on Tuesday, taking their lead from an upbeat session on Wall Street ahead of key U.S. inflation data that could shape the outlook for Federal Reserve monetary policy. Money markets show traders now anticipate a peak in UK rates at around 5.6% by February, up from a terminal rate of 4.85% by November a month ago. In currencies, the dollar index , which measures the performance of the U.S. currency against six others, fell 0.2% to 103.32. Sterling rose 0.4% against the dollar to $1.2567 after the UK wage data , while the euro rose 0.4% to $1.0796.

Persons: Michael Hewson, it’s, BoE, we've, Fiona Cincotta, Farouq Suleiman, Julie Zhu, Christopher Cushing, Jamie Freed, Simon Cameron, Moore, Conor Humphries Organizations: REUTERS, Staff LONDON, Federal Reserve, Nvidia, Nikkei, Nasdaq, Amazon, Apple, Reserve Bank of Australia, Bank of Canada, Fed, ECB, Bank of England, European Central Bank, Bank of, Sterling, Thomson Locations: Frankfurt, Germany, Europe, Swedish, Bank of Japan, London, Hong Kong

The pan-European STOXX 600 index (.STOXX) closed 0.2% higher, with the DAX (.GDAXI) up 0.9%. Luxury majors LVMH (LVMH.PA) and Hermes (HRMS.PA) climbed 1.8% and 3%, respectively, further supporting the STOXX 600. Meetings of the U.S. Federal Reserve, the European Central Bank and the Bank of Japan are lined up for the week. The STOXX 600 started the year on a stronger footing compared to the S&P 500 index (.SPX) but lost steam during the second quarter due to a rise in preference for growth-oriented stocks as opposed to value stocks. Shares in SES tumbled 14.6% to the bottom of the STOXX 600 after the satellite company announced its chief executive Steve Collar would step down.

Persons: BOJ, Bernstein, DAX, Lionel Messi's, Hermes, Daniela Hathorn, Sergio Ermotti, he’s, Michael Hewson, Silvio Berlusconi, Steve Collar, Shreyashi Sanyal, Bansari, Eileen Soreng Organizations: Fed, ECB, Adidas, UBS, CS, Inter Miami, U.S . Federal Reserve, European Central Bank, Bank of Japan, Credit Suisse, CMC Markets, MEDIAFOREUROPE, Italian, Novartis, Seattle, Chinook Therapeutics, SES, BNP, Exane, Thomson Locations: Europe, Bengaluru

June 9 (Reuters) - The White House on Friday said electric-vehicle charging stations using Tesla (TSLA.O) standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well. The statement follows separate announcements by U.S. automakers Ford Motor (F.N) and General Motors (GM.N) that they were adopting the Tesla model of charging, known as the North American Charging Standard (NACS). Tesla shares rose 4.1%. Some of them said on Friday that they would work to adapt to the Tesla standard. [1/2] Tesla charging stations are pictured in a parking lot in Shanghai, China March 13, 2021.

Persons: Biden, Tesla, Robyn Patterson, Patterson, Tesla's, Oleg Logvinov, Aly, Logvinov, Sam Houston, Danni Hewson, AJ Bell, Blink, Jonathan Levy, We've, They've, Asaf Nagler, ChargePoint, Jarrett Renshaw, Abhirup Roy, Hyunjoo Jin, Chavi Mehta, Bhanvi, Sayantani Ghosh, David Gaffen, Peter Henderson, Matthew Lewis Organizations: U.S, Ford Motor, General Motors, American, CCS, Analysts, Ford, GM, EV, Reuters, Volkswagen, Hyundai Motor, Kia, IoTecha, REUTERS, CharIN, Union of Concerned, Tesla, ABB, America, Thomson Locations: United States, Shanghai, China, CharIN North America, Swiss, Philadelphia, San Francisco, Bengaluru

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