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[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 27, 2022. The United States, India, Italy, Japan and Taiwan said they would require COVID-19 tests for travellers from China. At 0951 GMT, the MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, was down 0.1% on the day. Risk appetite was subdued for much of 2022 as global central banks raised interest rates in an attempt to bring down inflation. The Fed raised interest rates by 50 bps earlier in December after delivering four consecutive 75 bps hikes in the year, but it has said it may need to keep higher interest rates for longer.

☆ European shares gain on China recovery optimism
▼ + stars: | 2022-12-27 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +2 min

The pan-European STOXX 600 index (.STOXX) gained 0.4% to start the holiday-shortened week higher. China on Monday said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing COVID. While London and Dublin markets remained closed for the Christmas holiday, most European bourses advanced in early trading. Miners (.SXPP) and energy stocks (.SXEP) added 1.0% and 1.4%, respectively, as commodity prices jumped on hopes of demand recovery in top consumer China. Industrials (.SXNP) and banks (.SX7P) gained for a second straight session, lifting the broader European index.

The region-wide STOXX 600 index (.STOXX) closed 1.7% higher, with consumer discretionary firms such as Adidas (ADSGn.DE) and Puma (PUMG.DE) leading gains after U.S. peer Nike beat quarterly revenue and profit expectations. Shares of Adidas and Puma rose 6.8% and 9.5%, respectively, while London-listed JD Sports (JD.L) jumped 6.1%, lifting the retail index (.SXRP). The euro STOXX 50 volatility index (.V2TX) hit its lowest level since January, reflecting easing anxiety among investors. British retailers also reported a surprise pick-up in demand in December, a Confederation of British Industry survey showed. Reporting by Amruta Khandekar and Bansari Mayur Kamdar; editing by Uttaresh.V, Saumyadeb Chakrabarty and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Falling stocks and bruised dollar reel from BOJ's surprise policy shift
▼ + stars: | 2022-12-20 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

LONDON, Dec 20 (Reuters) - World stocks slid on Tuesday after a policy tweak by Japan's central bank rattled investors already worried about the economic fallout of rising interest rates and untameable inflation. The policy decision caused an immediate spike in the yen, with the dollar index dropping 0.80% to 103.95, a six-month low. Japanese 10-year government bond yields surged to their highest level since 2014, with euro zone yields following suit. This knocked other currencies from recent gains, with both the euro and pound falling more than 3.5% against the yen. In the oil market, Brent crude rose 0.20% to $79.95 per barrel, while U.S. crude rose 1.3% to $76.19.

☆ Stocks, bonds fall as BOJ's surprise policy shift spooks investors
▼ + stars: | 2022-12-20 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

The Bank of Japan (BOJ) widened the allowable band for long-term yields to 50 basis points either side of its 0% target, from 25 basis points previously. European stock markets hit six-week lows, with the German (.GDAXI) and French benchmark indices (.FCHI) falling by as much as 1%, while London's FTSE 100 (.FTSE) lost as much as 0.8%. Japanese 10-year government bond yields surged to their highest since 2014, with euro zone yields following suit. The policy decision caused an immediate spike in the yen with the dollar index dropping 0.80% to 103.95, a six-month low. Credit Suisse on Monday upgraded its outlook from neutral to outperform for China's stock markets in the year ahead.

[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. An investor in Wood Group (WG.L), an oilfield services company, urged the company to buy back some of its own shares to avoid being a target. The domestically-focused FTSE 250 (.FTMC) is down by almost a fifth this year while the internationally-focused blue-chip FTSE 100 (.FTSE) is up 0.8% thanks to a drop in the pound. A currency advantage alone does not necessarily kick-start deals though, according to Owain Evans, co-head of UK M&A for Goldman Sachs. "Large corporates continue to look at 'bolt-ons', where they can draw on existing facilities to do those deals, that's why the mid-cap space is attractive to the strategics in this environment," said Celia Murray, head of UK M&A at JPMorgan.

☆ Porsche will join Germany's blue-chip index - Deutsche Boerse
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 5 (Reuters) - German sportscar maker Porsche AG (P911_p.DE) will join the blue-chip index, just over two months after its market debut, exchange operator Deutsche Boerse (DB1Gn.DE) said on Monday. Porsche AG will replace sportswear maker Puma (PUMG.DE) on the DAX stock index (.GDAXI) on Dec. 19 while Puma will move down to the MDAX index (.MDAXI), it said. Both Volkswagen and its majority owner Porsche SE are on the DAX index as well. Deutsche Boerse periodically reassesses the composition of the index using trading data to measure market value and trading volume as a basis for deciding which companies to include. Bioenergy company Verbio (VBKG.DE) will also join the mid-cap MDAX index, while real estate firm Deutsche Wohnen (DWNG.DE) and battery maker Varta (VAR1.DE) will be demoted to the small-cap SDAX (.SDAXI).

The Euro STOXX 600 (.STOXX) gained 0.4%, recovering from its worst session in almost two weeks a day earlier. Shares in London (.FTSE) were up 0.8% and markets in Paris (.FCHI) and Frankfurt (.GDAXI) gained around 0.2%-0.3%. Hopes of faster easing of China's strict restrictions rose after an official said they will continue to fine-tune policy to reduce the impact of its "Zero COVID" on society. The sudden bout of optimism on China combined with talk of possible output cuts by OPEC+ to help oil prices rally. Shares of Chinese property companies surged after the country's securities regulator lifted a ban on equity refinancing for listed property firms.

☆ Rates and recession: European shares face rocky start to 2023
▼ + stars: | 2022-11-29 | by ( Danilo Masoni | ) www.reuters.com time to read: +3 min

For the coming months, though, investors fear euro zone equities could lag other markets. "The economic outlook looks challenging as our economists forecast a recession in the euro zone," said Marc Haefliger, Head of Global Equity Strategy at Credit Suisse in Zurich. The economic slowdown will hit the cyclical euro zone market disproportionately," he added. The STOXX index of the euro zone's top 50 blue chip stocks (.STOXX50E) is seen falling another 7.9% from Friday's close to 3,650 points by mid-2023. Among country benchmarks, Germany's DAX (.GDAXI) is seen ending the first half of 2023 at 13,209, down 9.2% from Friday's close.

☆ Poland missile relief dents dollar; stocks retreat
▼ + stars: | 2022-11-16 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/IllustrationLONDON, Nov 16 (Reuters) - Global stocks eased from two-month highs on Wednesday while the safe-haven dollar fell, after Poland's president said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears that it originated from Russia. Data on Wednesday showed U.S. retail sales rose by 1.3% in October, compared with expectations for a 1.0% rise, showing consumers were undeterred by high inflation last month. This gave a bump to the dollar, which cut some of the day's losses and weighed heavily on European shares. The dollar, which acts a safe haven in times of geopolitical or market turmoil, rallied overnight, before falling throughout the European session. Gold rose 0.2% on the day to $1,776 an ounce, supported by a slightly weaker dollar, while Brent crude futures fell 0.6% to $93.33 a barrel, having retreated from an overnight high of $94.79.

☆ Stocks pare losses, dollar falls after Biden defuses tensions over Poland blast
▼ + stars: | 2022-11-16 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

LONDON, Nov 16 (Reuters) - Global stocks pared losses and the dollar fell on Wednesday after U.S. President Joe Biden told G7 and NATO partners that a missile blast in Poland was caused by a Ukrainian defence missile, dispelling fears that it originated from Russia. This is whatever it was, but it was not an attack on Poland and Biden’s comments took the tension out of it," Societe Generale strategist Kit Juckes said. When the missile struck, NATO member Poland first said a Russian-made rocket was responsible and summoned Russia's ambassador to Warsaw for an explanation after Moscow denied it was responsible. Biden said the United States and its NATO allies were investigating the blast but early information suggested it may not have been caused by a missile fired from Russia. With geopolitical tensions injecting some volatility into the broader markets, benchmark 10-year Treasury yields were almost unchanged on the day at 3.807%.

Apart from generating and selling electricity, RWE also operates a large desk that trades in electricity, gas and CO2 certificates as well as other commodities, which can lead to bumper profits in times of significant price swings. "We have a very fundamental understanding of how markets work," Chief Financial Officer Michael Mueller told reporters on Thursday. Stifel Research, keeping a "buy" rating on RWE shares, said trading results were driven by so-called contango, where the futures price of a commodity is higher than spot levels. Nine-month adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 4.1 billion euros ($4.1 billion), up from 2.4 billion a year earlier. Apart from the strong performance in trading, where profits were up 59%, results also benefited from higher electricity wholesale prices for gas and biomass, Mueller said.

Markets had started the week with a "risk-on" tone, which some analysts attributed to hopes that China could relax its strict COVID-19 lockdown measures. But the move showed signs of losing momentum on Tuesday as Asian stocks saw only small gains. The yuan weakened against the dollar and Chinese stocks slipped as COVID-19 cases rose. European stocks indexes opened in the red, then became mixed. "The market is wanting to cling to any positive news and a market positive Midterm result could mean another risk positive day," RBC said.

LONDON, Nov 1 (Reuters) - European stocks rose in early trading on Tuesday, supported by speculation among investors that central banks could come to the end of their rate-hiking cycles. Norman Villamin, chief investment officer of Wealth Management at UBP, said the rise in European stocks could be due to "effectively dovish" guidance from the European Central Bank last week. RATE HIKESThe Fed is expected to raise interest rates by 75 basis points on Wednesday, but investors will look for any signals the Fed may be considering a deceleration in interest rate hikes in the future. Villamin said that central banks are caught in a "tug of war" between the slowing economy and high inflation. China's yuan hit a near 15-year low against the dollar, after the central bank fixed the official guidance rate at its lowest level since the global financial crisis of 2008.

☆ Investors switch into Porsche AG from Volkswagen on debut day
▼ + stars: | 2022-09-29 | by ( Danilo Masoni | ) www.reuters.com time to read: +2 min

MILAN, Sept 29 (Reuters) - Porsche AG shares rallied on their Frankfurt market debut on Thursday as traders dumped holdings of its controlling companies to grab a slice in the newly listed supercar manufacturer. Register now for FREE unlimited access to Reuters.com Register"There seem to be shifts from Volkswagen into Porsche AG," said Jochen Stanzl, analyst at online broker CMC Markets. Porsche AG shares traded at a premium of as much as 5.2% to their IPO price of 82.5 euros at one point. Shares in top shareholders Volkswagen (VOWG_p.DE) and Porsche Automobil Holding SE (PSHG_p.DE) were last down 5% and 8% respectively. Porsche AG was by far the most traded stock by volume on Thursday on Lang & Schwartz's platform, indicating interest from individual investors, too.

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 20, 2022. The continent-wide STOXX 600 index (.STOXX) was 0.1% higher, bouncing back after hitting its lowest level since early July. The indexes rose about 1.5% each as oil and other commodity prices climbed following the news of mobilisation. FEDWATCH"The 75 bps hike is priced in at this stage but where it gets interesting, is what's the terminal rate going to be?," said Giles Coghlan, chief market analyst, HYCM. Fortum (FORTUM.HE) shares surged 14.6% to the top of the STOXX 600, after Germany agreed to nationalise Uniper by buying the Finnish firm's stake.

☆ Volkswagen shares dip as it values Porsche at up to $75 bln
▼ + stars: | 2022-09-19 | by ( Victoria Waldersee | ) www.reuters.com time to read: +5 min

"It is fundamentally right that Porsche AG becomes more independent - but this is not an independent set-up." Shares in Porsche SE (PSHG_p.DE), Volkswagen's largest shareholder which will take a big stake in Porsche AG, were 2.42% higher, topping Germany's DAX blue-chip index (.GDAXI). read moreVolkswagen said on Sunday it would price preferred shares in the flotation of Porsche AG at 76.50-82.50 euros per share. Analysts have compared Porsche AG stock to Ferrari (RACE.MI), which has a market capitalisation of 38 billion euros but an operating margin of 24% to Porsche's 17-18%. Total proceeds from the sale will be 18.1 billion to 19.5 billion euros.

☆ Volkswagen shares up slightly on Porsche's 70-75 billion euro valuation
▼ + stars: | 2022-09-19 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

The valuation announced on Sunday of 70 billion-75 billion euros is slightly below some investors' estimates of up to 85 billion euros, but still far outstrips the valuation of other German carmakers like BMW's (BMWG.DE) 49 billion euros or Mercedes-Benz' 61 billion. Register now for FREE unlimited access to Reuters.com RegisterIt also comes close to Volkswagen's own market capitalisation of 88 billion euros. Shares in Porsche Holding SE, Volkswagen's largest shareholder, were 3.23% higher, topping Germany's DAX blue-chip index (.GDAXI). Analysts have compared the Porsche AG stock to Ferrari (RACE.MI), which has a market capitalisation of 38 billion euros but an operating margin of 24% to Porsche's 17-18%. Total proceeds from the sale will be 18.1 billion to 19.5 billion euros.

☆ France leads European shares lower in mega week for central banks
▼ + stars: | 2022-09-19 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 index (.STOXX) traded 0.7% lower, while France's CAC 40 index (.FCHI) dropped 1.3%. Shares in TF1 (TFFP.PA) fell 3.2% and M6 (MMTP.PA) declined 4.5% after merger plans between the French TV companies collapsed, as they noted antitrust requests had made the deal irrelevant. Most market participants expect the U.S. central bank to deliver a third straight 75 basis point hike. "Investors seem to be worried about the upcoming central bank meetings," said Patrick Armstrong, chief investment officer at Plurimi Wealth. European markets closed their worst weekly performance in three months on Friday on escalating recession worries amid aggressive central bank tightening.

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