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[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

☆ Amazon Frankfurt-listed shares surge, Apple slides after results
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-The logo of Amazon is seen at the company's logistics center in Bretigny-sur-Orge, near Paris, France, November 25, 2022. REUTERS/Benoit Tessier/File PhotoLONDON, Aug 4 (Reuters) - Amazon (AMZN.O) shares surged on Friday in Frankfurt trading after the company issued an upbeat outlook for the third quarter, while Apple's German-listed shares (AAPL.O) fell after the company forecast a continued slide in sales. Amazon jumped 8.5% on the German market, echoing the steep rise in extended U.S. trading on Thursday after the company reported sales growth and profit that beat Wall Street's expectations, thanks to faster, cheaper deliveries to customers and to the recent headwinds in cloud-computing beginning to subside. Apple shares fell 2.3% in Frankfurt after the iPhone maker on Thursday forecast that a sales slump would continue into the current quarter, which sent shares down in after-hours trading despite beating Wall Street sales and profit targets in the fiscal third quarter. (This story has been refiled to remove extraneous words in paragraph 3)Reporting by Joice Alves; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Joice Alves, Amanda Cooper Organizations: REUTERS, Amazon, Apple, Wall, Thomson Locations: Bretigny, Paris, France, Frankfurt

Sterling initially dropped, reflecting disappointment after traders had priced in a 30% chance of another 50 bp hike. Longer-term gilt yields, more responsive to investors' perceptions about the economic growth trajectory, rose by the most in a month. Governor of the Bank of England Andrew Bailey attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Two-year gilt yields have risen by more than 120 basis points this year, more than double the increase of their U.S. equivalent. On Thursday, two-year gilt yields were down 5 bps in late trade, while those on 30-year debt rose 10 bps, the most in a month, to 4.66%.

Persons: BoE, Andy Burgess, Andrew Bailey, Sterling, we've, Bank of England Andrew Bailey, Alastair Grant, Jeremy Hunt, Carl Shepherd, they'll, juicier, Peter Goves, Kirsten Donovan Organizations: Bank, Bank of England, Monetary, REUTERS, Conservative, Newton Investment Management, Swiss, MFS Investment Management, Reuters Graphics, Thomson Locations: AMSTERDAM, LGIM, London, Britain, U.S

☆ VIEW Bank of England raises rates for a 14th time
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +7 min

The BoE raised interest rates by 25 basis points to 5.25% and said high inflation meant it was unlikely to stop raising rates any time soon. However, with Thursday's decision, traders began to price in a lower peak in UK rates. MONEY MARKETS: Interest-rate derivatives showed traders believe UK rates will peak around 5.67% by March, compared with an expected peak of 5.73% in the run-up to the decision. Rising interest rates means higher borrowing costs, which will lead to larger monthly mortgage payments for many homeowners." The Bank of England remains committed to bringing inflation down, unfortunately raising interest rates is one of the only tools the Bank can use to sap demand out of the economy."

Persons: BoE, Sterling, VIVEK PAUL, we’ll, STUART COLE, JEREMY BATSTONE, CARR, RAYMOND JAMES, MARCUS BROOKES, ” SEEMA SHAH, Rishi Sunak, GILES COGHLAN, THOMAS PUGH, JOHN LEIPER, Amanda Cooper, Samuel Indyk Organizations: Bank of England, FTSE, BLACKROCK, LONDON, TOM HOPKINS, Bank of, RSM, Bank, EMEA, Thomson Locations: LONDON, EUROPEAN, U.S

☆ Flagship Odey fund slimmed down by manager Neave, exits commodity futures
▼ + stars: | 2023-08-02 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

OAM, which declined to comment, will send out further correspondence about how the Odey European Inc fund will be restructured, the letter said. OAM reorganised many of its funds in June and Neave took over the flagship Odey European Inc fund, amid fears of an investor exodus following the allegations. Since then, Neave has reduced the size of the hedge fund's investments in stocks, bonds and, in June, sold out of its gold futures. The fund closed out its direct exposure to gold futures, the letter said. Odey European Inc has kept some exposure to commodities through long positions related to the crude and palm oil company stocks, the letter said.

Persons: Freddie Neave, Crispin Odey's, Crispin Odey, Odey, Neave, Leopalace, Nell Mackenzie, Amanda Cooper, Alexander Smith Organizations: Reuters, Odey Asset Management, Financial Times, Tortoise Media, Inc, United Rentals, Learning Technologies, Jadestone Energy, Thomson

☆ Morning Bid: Triple-A headache
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. On Tuesday, Fitch became the second major agency, after Standard & Poor's in 2011, to strip the United States of its prized triple-A credit rating. Jefferies notes that, with two of the three major agencies listing U.S. debt at AA, U.S. bonds no longer count as AAA in some key indices. However, according to Jefferies, most investors have moved away from some of the stricter criteria around holding triple-A rated debt, given Germany is the only large issuer left with that rating. Chart shows that the U.S.'s long-term foreign currency rating was downgraded by Fitch to AA+ in 2023, following a similar move from S&P in 2011.

Persons: Rick Wilking, Amanda Cooper, Fitch, Jefferies, it's, Dupont Nemours, Kraft, Phillips, Ingersoll Rand, John Stonestreet Organizations: REUTERS, Standard, Capitol, Investors, Treasury, Moody's, Moody's Investors Service, U.S ., U.S, AA, AAA, CVS Health, Entergy, Kraft Heinz, Garmin, Brands, Bunge Ltd, Lincoln National, Occidental Petroleum, ETSY, Cognizant Technology Solutions, Atmos Energy, Equinix, Qualcomm, MGM Resorts, MetLife, Fitch, Reuters Graphics U.S, Thomson, Reuters Locations: Westminster , Colorado, U.S, United States, Aaa, Germany, Exelon, Albemarle, Occidental, Clorox

☆ Billionaire investor Loeb cuts bearish bets to avoid short squeezes
▼ + stars: | 2023-08-01 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

SALT brings together public policy officials, capital allocators, and hedge fund managers to discuss financial markets. REUTERS/Steve MarcusLONDON, Aug 1 (Reuters) - Billionaire investor Daniel Loeb has reduced the size of short bets on single named companies to limit the vulnerability of his hedge fund, Third Point, to short squeezes, he said in a letter on Tuesday. "The short-selling environment is much more challenging than it has been historically," said Loeb in the letter. Almost half of Loeb's net long exposure includes companies that will benefit from developments in artificial intelligence, the letter said. Elsewhere at Third Point, Loeb's corporate credit team returned a net 8.7% for the quarter after market instability in the March banking crisis created opportunities for the fund, Loeb said.

Persons: Daniel S, Loeb, Steve Marcus LONDON, Daniel Loeb, Ferguson, Nell Mackenzie, Amanda Cooper Organizations: Third, REUTERS, Pacific Gas and, Microsoft, HK, Offshore Fund, Web Services, Google, Thomson Locations: Las Vegas , Nevada, allocators

☆ Silver Lake raises 1 bln euros in loans for Software AG takeover
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

LONDON, Aug 1 (Reuters) - Silver Lake (SILAK.UL) on Tuesday raised a 1 billion euro ($1.10 billion) seven-year loan to fund its takeover of Germany's Software AG (SOWGn.DE), breathing new life into the sluggish syndicated leveraged loan market. The loan is split between 640 million euros and $405 million, paying a margin of 475 basis points (bps) over the benchmark rate, according to a term sheet seen by Reuters. On July 20, the U.S. private equity firm announced it had secured a 84.29% stake in Software AG, subject to closing of the tender offer, adding that the transaction was expected to close in the fourth quarter pending regulatory approvals. Software AG shares were last up 0.3% on the day in Frankfurt. They have fallen by 13% since hitting a multi-month high after Silver Lake's offer in April this year.

Persons: Silver, Chiara Elisei, Amanda Cooper Organizations: Germany's Software AG, Reuters, Banks, JPMorgan, Citigroup, Banco Santander, Software AG, Thomson Locations: U.S, Frankfurt

☆ BOJ tweak stirs yen volatility; dollar stays down after US data
▼ + stars: | 2023-07-28 | by ( Laura Matthews | ) www.reuters.com time to read: +4 min

[1/3] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Whipsawing as traders digested the decision, the Japanese yen weakened 1.13% versus the greenback and was last at 141.05 per dollar in the New York afternoon session. U.S. annual inflation in June increased by the smallest amount in more than two years, with underlying price pressures moderating. CENTRAL BANK WEEKEarlier this week, the Fed and the European Central Bank announced interest-rate hikes, as expected. The ECB raised the possibility of a pause in September as inflation pressures show tentative signs of easing with recession worries mounting.

Persons: Florence Lo, Karl Schamotta, Adam Button, Jerome Powell, Sterling, bitcoin, Laura Matthews, Amanda Cooper, Alun John, Ankur Banerjee, Jonathan Oatis, Matthew Lewis Organizations: U.S, REUTERS, Bank of Japan, New York, Bank of, Federal Reserve, Commerce Department, ForexLive, Federal, CENTRAL, Fed, European Central Bank, ECB, Thomson Locations: Whipsawing, New, Corpay, Toronto, Japan, Bank of Japan, New York, London, Singapore

LONDON, July 28 (Reuters) - France's privacy watchdog CNIL said on Friday it is aware of ChatGPT-founder Sam Altman's Worldcoin project and that the legality of its biometric data collection "seems questionable". CNIL, the French watchdog, said in response to a Reuters question on Worldcoin "The legality of this collection seems questionable, as do the conditions for storing biometric data." The Worldcoin Foundation is a Cayman Islands-based entity which describes itself as a "steward of the Worldcoin protocol". "The Worldcoin Foundation complies with all laws and regulations governing the processing of personal data in the markets where Worldcoin is available," it said. The project is supervised in the European Union by the Bavarian State Office for Data Protection Supervision, the Worldcoin Foundation said.

Persons: CNIL, Sam Altman's, Worldcoin, Elizabeth Howcroft, Amanda Cooper, Jane Merriman, Louise Heavens Organizations: Reuters, Bavarian, Worldcoin, European Union, Office, Data Protection, Thomson Locations: Bavarian, Germany, Cayman Islands, European

☆ Banks to fuel boom in UK Plc regular dividend payouts
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

The estimate from financial services company Computershare is 2.7 billion pounds higher than its April forecast and reflects improved profit prospects across the rate-sensitive industry. Computershare's latest quarterly Dividend Monitor showed bank payouts rose 61% on an underlying basis to around 7.8 billion pounds in the second quarter. The sector is set to raise headline payouts by over 3 billion pounds this year. That estimate is 1 billion pounds more than what it forecast three months ago. In the second quarter, UK dividends rose 3.5% on an underlying basis, but fell 9% to 32.8 billion pounds on a headline basis, it said.

Persons: Computershare, Rio, Danilo Masoni, Amanda Cooper, David Evans Organizations: MILAN, HSBC, Bank of England, Rio Tinto, Tobacco, Thomson

Microsoft is set to shed about $100 billion from its market capitalization if the loses hold until close of trading. "The tech earnings season has started on a mixed note," said Mark Haefele, global wealth management chief investment officer at UBS in a client note. "The tone set by quarterly results over the next week will be crucial to the performance of tech stocks through the rest of the third quarter." Large tech companies, which rely heavily on borrowed money, have been pressured since the Fed started its tightening cycle to tame inflation. However, optimism over AI and hopes that the Fed is nearing the end of its rate hiking cycle have supported tech stocks in recent months.

Persons: Lucy Nicholson, Paul Nolte, Murphy, Sylvest, Mark Haefele, Wall, Stuart Cole, Bernstein, Mark Shmulik, Meta, enviously, Shmulik, Shreyashi Sanyal, Amruta, Lucy Raitano, Johann M Cherian, Amanda Cooper, Saumyadeb Organizations: Los Angeles , California U.S, REUTERS, Microsoft, Google, UBS, Apple Inc, Amazon.com Inc, Fed, Equiti, Federal Trade Commission, Amazon, Inc, Facebook, Thomson Locations: Los Angeles , California, U.S, HK, Bengaluru, London

☆ Morgan Stanley cuts Israel sovereign credit to "dislike stance" after judiciary changes
▼ + stars: | 2023-07-25 | by ( Marc Jones | ) www.reuters.com time to read: +1 min

"Markets are now likely to extrapolate the future policy path and we move Israel sovereign credit to a 'dislike stance'." They added that recent developments pointed to "continued uncertainty" in Israel and for the shekel currency to weaken and borrowing costs to rise as investors attach a higher risk premium. "In our adverse scenario we think that growth could weaken significantly to 1.6% (year-on-year) in 2024 with inflation remaining significantly above the Bank of Israel's tolerance band." "For now, we keep our call for one more 25 basis point hike to 5% at the BoI's September meeting, but risks to the rates outlook are now shifting to the upside again." Reporting by Marc Jones and Steve Sheer in Jerusalem, additional reporting by Ari Rabinovitch; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, Benjamin Netanyahu, Morgan, Marc Jones, Steve Sheer, Ari Rabinovitch, Amanda Cooper Organizations: Bank of, Thomson Locations: Israel, Jerusalem

The euro slipped 0.25% against the dollar, government bond yields across the bloc edged lower while European stock markets dipped, with Spain's benchmark index down 0.65% in a clear underperformance. Meanwhile, U.S. stock futures , rose 0.2% and 0.3%, respectively, pointing to a positive open for Wall Street. With the Federal Reserve, European Central Bank and Bank of Japan meeting this week, a note of caution underpinned the mood across global markets. The benchmarks continued their fourth straight of week of gains last week, as supply is expected to tighten following OPEC+ cuts. HOST OF EARNINGSOn top of central bank meetings and economic data, investors also braced for a slew of earnings from both sides of the Atlantic.

Persons: Kai Pfaffenbach, Bruno Schneller, Schneller, Eddie Cheng, Allspring's Cheng, SPAIN UNDERPERFORMS, Fiona Cincotta, Nell Mackenzie, Dhara, Wayne Cole, Amanda Cooper, Peter Graff Organizations: REUTERS, Nasdaq, Fed, ECB London, Wall, Federal Reserve, European Central Bank and Bank of Japan, ECB, INVICO Asset Management, Bank of Japan, Japan's Nikkei, Allspring Global Investments, Brent, . West Texas, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, GM, U.S, Thomson Locations: Frankfurt, Germany, Spain, U.S, Spain's, Asia, Pacific, Japan, Ukraine, Russia, China, SPAIN, SPAIN UNDERPERFORMS Spain, Sunday's, Basque, Catalan, Coca, London, SYDNEY

☆ Investors' dash to cash may have peaked - BofA
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 21 (Reuters) - Investors' rush to the safety of cash, a dominant theme in capital flow data this year, may be peaking, Bank of America global research said on Friday. (.SPX)Tech stocks have seen strong inflows for the past eight weeks, BofA said, and high yield bonds saw their third weekly inflow in the week to Wednesday versus outflows from investment grade bonds. The weekly data, however, showed $7.5 billion of flows into cash, as well $1.4 billion to bonds, $600 million from gold and $2.1 billion from stocks. Bank loans saw inflows of $400 million, the most since May 2022, and Japanese equities saw their seventh week of inflows, its longest streak since January. Reporting by Alun John; Editing by Amanda Cooper and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, BofA's, Alun John, Amanda Cooper, Kim Coghill Organizations: Bank of America, Silicon Valley Bank, Tech, Bank, Thomson Locations: U.S, United States

☆ Shares in Pfizer rivals Hikma, Fresenius rally after tornado hits factory
▼ + stars: | 2023-07-20 | by ( Lucy Raitano | ) www.reuters.com time to read: +1 min

Hikma shares rose by as much as 9.4% in their largest one-day increase since last September. Pfizer is the largest supplier in the U.S. injectables market and Hikma is the second-largest, analysts said. Hikma, which has a market value of around $5.6 billion compared with Pfizer's $205.7 billion, might struggle to meet demand, Herrmann said. European healthcare stocks (.SXDP) were up around 0.7% on the day, outperforming the broader STOXX 600 (.STOXX), which rose 0.4%. Pfizer shares were up 0.16% in premarket trading.

Persons: Fresenius, Max Herrmann, Herrmann, Hikma, Amanda Cooper, Jan Harvey Organizations: Pfizer, Reuters, Thomson Locations: U.S, Rocky Mount, North Carolina, Hikma

☆ Hikma, Fresenius shares rally after tornado hits rival Pfizer's U.S. plant
▼ + stars: | 2023-07-20 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

Nearly 25 percent of all sterile injectables used in U.S. hospitals are produced at the Rocky Mount facility, according to Pfizer's website. Hikma shares rose by as much as 9.4% in their largest one-day increase since last September, hitting an 18-month high. Pfizer is the largest supplier in the U.S. injectables market and Hikma is the second-largest, analysts said. Hikma has a market value of around $5.6 billion, compared with Pfizer's $205.7 billion and Fresenius SE's $16.7 billion, according to Refinitiv data. Pfizer shares were up 0.16% in premarket trading.

Persons: Fresenius, Max Herrmann, Herrmann, Hikma, J.P.Morgan, Amanda Cooper, Jan Harvey, Mike Harrison Organizations: Pfizer, Rocky, U.S . Food, Drug Administration, Thomson Locations: U.S, Rocky Mount, North Carolina, Hikma

☆ Cooler inflation unleashes monster rally in UK markets, dents pound
▼ + stars: | 2023-07-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

British annual consumer price inflation fell to a lower than expected 7.9% in June, below a forecast for a decline to 8.2%. June's rate was a long way off last October's 41-year high of 11.1%, but far above the BoE's 2% target rate. "Some good news on UK inflation at last, coming in below expectations for June and most importantly the core inflation rate fell more than thought," Neil Birrell, who is chief investment officer at Premier Miton Investors, said. British finance minister Jeremy Hunt said there was still a long way to go to reduce inflation towards target. Meanwhile, interest-rate derivatives showed traders no longer believe UK rates will have to rise above 6% to temper inflation.

Persons: Barratt, Taylor Wimpey, Neil Birrell, Sterling, Jeremy Hunt, Hunt, Jeremy Batstone, Carr, Raymond James, Danilo Masoni, Alun John, Dhara Ranasinghe, Andrew Organizations: Reuters, Premier Miton Investors, Bank of England, Thomson Locations: United States, European, Milan

☆ Reactions: UK inflation cools in June, pound drops
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +6 min

Sterling dropped broadly, falling against the dollar, the euro and the yen, as interest-rate futures showed investors no longer expect UK rates to peak above 6%. COMMENTS:KEVIN BRIGHT, GLOBAL LEADER, CONSUMER PRICING PRACTICE, MCKINSEY & COMPANY, LONDON:"Inflation dipped more than expected; but the gulf between the UK and the Eurozone inflation levels remains. Despite most categories seeing a decline, food & non-alcoholic beverage inflation at 17.3% remains only 1.8% below its peak in March 2023. "Continued rising prices, higher interest rates and below inflation wage growth – are a triple blow to household budgets. NEIL BIRRELL, CHIEF INVESTMENT OFFICER, PREMIER MITON INVESTORS, LONDON:"Some good news on UK inflation at last, coming in below expectations for June and most importantly the core inflation rate fell more than thought.

Persons: Sterling, BoE, KEVIN, JOE TUCKEY, JORDAN, NOMURA, CHRIS BEAUCHAMP, Andrew Bailey, JEREMY BATSTONE, CARR, RAYMOND JAMES, ” KENNETH BROUX, It's, JOSEPH CALNAN, NEIL BIRRELL, Amanda Cooper, Andrew Heavens, Catherine Evans Organizations: Bank of England's, Reuters, Reuters Graphics Reuters, MCKINSEY, COMPANY, LONDON, Bank of England, JORDAN ROCHESTER, CPI, IG GROUP, Bank of, SOCIETE GENERALE, U.S, EMEA, Thomson Locations: homebuilders, Bank of England, EUROPEAN

☆ US stocks rise on earnings outlook, global shares dip on China data
▼ + stars: | 2023-07-17 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. The tech-heavy Nasdaq led U.S. stocks higher, supported by megacap growth stocks including Apple, Nvidia and Tesla, ahead of quarterly results from industry heavyweights later this week. Second-quarter earnings are expected to decline 8.1%, according to Refinitiv data, down further than the 5.7% decline expected at the start of the month. Data on U.S. retail sales are expected to show a rise of 0.3% ex-autos, continuing the slower trend but solid enough to fit into the market's soft-landing theme. Futures are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.40% in November.

Persons: Brendan McDermid, Morgan Stanley, Goldman, it's, Anthony Saglimbene, James Ragan, Brent, Herbert Lash, Karen Brettell, Amanda Cooper, Wayne Cole, Lincoln, Christina Fincher, Barbara Lewis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Wall, Nasdaq, Apple, Nvidia, Tesla, Tesla Inc, Bank of America Corp, Goldman Sachs Group Inc, Netflix Inc, Dow Jones, Fed, Treasury, Reuters Graphics Oil, Thomson Locations: New York City, U.S, China, Troy , Michigan, Davidson, Seattle, Europe, New York, London, Sydney

☆ Global shares dip after China data; US stocks gain
▼ + stars: | 2023-07-17 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. The tech-heavy Nasdaq led U.S. stocks higher, supported by megacap growth stocks including Apple and Tesla, ahead of quarterly results from industry heavyweights later this week. Stocks in Europe closed lower, with the pan-regional STOXX 600 index (.STOXX) down 0.63% while MSCI's gauge of stocks across the globe (.MIWD00000PUS), which is heavily weighted to U.S. megacap stocks, edged higher by 0.14%. Futures are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.40% in November. U.S. crude fell $1.27 to settle at $74.15 per barrel and Brent settled down $1.37 at $78.50.

Persons: Brendan McDermid, Morgan Stanley, Goldman, it's, Anthony Saglimbene, James Ragan, Brent, Herbert Lash, Karen Brettell, Amanda Cooper, Wayne Cole, Lincoln, Christina Fincher, Barbara Lewis Organizations: New York Stock Exchange, REUTERS, YORK, Nasdaq, Apple, Tesla, Tesla Inc, Bank of America Corp, Goldman Sachs Group Inc, Netflix Inc, Dow Jones, Fed, Treasury, Reuters Graphics Sterling, Bank of England, CBA, Thomson Locations: New York City, U.S, China, Troy , Michigan, Davidson, Seattle, Europe, New York, London, Sydney

☆ Global shares dip after China data; traders bet on Fed sea change
▼ + stars: | 2023-07-17 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

This week's data macro calendar is light and Fed officials are in their "blackout period" ahead of their July policy meeting, leaving investors with the big question of whether last week's market moves will continue or reverse. U.S. stock index futures , erased earlier gains and were down 0.1% ahead of a packed week of corporate earnings. "We expect Fed officials cheered the latest inflation developments, but declaring victory with sub-4% unemployment, and over 4% core inflation, would be reckless." Copper , which is also highly sensitive to Chinese data, dropped 2.5% to $8,458 a ton. Additional reporting by Wayne Cole in Sydney; Editing by Lincoln Feast and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Brown, Brown, Tesla, Morgan Stanley, Goldman Sachs, disinflation, Michael Feroli, Sterling, Wayne Cole, Lincoln, Christina Fincher Organizations: Global, Federal Reserve, Bank of America, Netflix, JPMorgan, Reuters, Treasury, Bank of England, CBA, Brent, Thomson Locations: China, Europe, Libya, Sydney

☆ Stocks rise, dollar retreats ahead of inflation data
▼ + stars: | 2023-07-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

Markets are awaiting U.S. inflation data on Wednesday to see if price pressures are continuing to moderate, which could provide clues on the interest rate outlook. The MSCI All-World index (.MIWD00000PUS) rose 0.3%, lifted by gains in European shares, as the STOXX 600 (.STOXX) rose 0.6% and U.S. stock index futures , rose 0.2-0.4%, suggesting a modest rise at the opening bell. Economists polled by Reuters expect the consumer price index to have risen by 3.1% in June, after May's 4% increase. "There is a massive eye on tomorrow's inflation data - it comes to late in the day for the July meeting. Analysts expect earnings to have shrunk 6.4% in the second quarter year-on-year, according to IBES data from Refinitiv.

Persons: Toby Melville, Craig Erlam, Jim Reid, Wells, Julie Zhu, Jamie Freed, David Evans, Chizu Organizations: London Stock Exchange Group, City of, REUTERS, Federal, Reuters, U.S ., Treasury, Deutsche Bank, London Metal Exchange, JPMorgan, Citigroup, Refinitiv, Thomson Locations: City, City of London, Britain, China, U.S, Brent, Wall, Hong Kong

☆ Standard Chartered boosts 2024 bitcoin forecast to $120,000
▼ + stars: | 2023-07-10 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, July 10 (Reuters) - The value of top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered (STAN.L) said on Monday, predicting the recent jump in its price could encourage bitcoin "miners" to hoard more of the supply. "Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," Kendrick said in a report. Bitcoin's price has leapt 80% since the start of the year but its current level of just over $30,200 is still less than half the $69,000 it peaked back in November 2021. "It is the equivalent of miners reducing the amount of bitcoins they sell per day to just 180-270 from 900 currently." "Over a year, that would reduce miner selling from 328,500 to a range of 65,700-98,550 – a reduction in net BTC supply of roughly 250,000 bitcoins a year."

Persons: Geoff Kendrick, Kendrick, Marc Jones, Amanda Cooper, Sharon Singleton Organizations: Chartered, BTC, Kendrick, Citi, Thomson

☆ Standard Chartered bumps up bitcoin forecast to $120,000
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: 1 min

LONDON, July 10 (Reuters) - Top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered (STAN.L) said on Monday, predicting the jump in its price could encourage bitcoin 'miners' to hoard more of the supply. Standard Chartered published a $100,000 end-2024 forecast for bitcoin back in April on the view the so-called "crypto winter" was over, but one the bank's top FX analysts, Geoff Kendrick, said there was now 20% "upside" to that call. "Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," Kendrick said in a report. Reporting by Marc Jones; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Geoff Kendrick, Kendrick, Marc Jones, Amanda Cooper Organizations: Chartered, BTC, Thomson

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