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The pan-European STOXX 600 index (.STOXX) ended 0.4% lower after a survey showed the U.S. services sector barely grew in May, while factory orders rose less than expected. "There's a bit of profit taking after some of the moves we've had recently," said Steve Sosnick, chief strategist at Interactive Brokers. "The economic reports that we've gotten around the world (signal) a somewhat slowing economy." Shares of Indivior Plc (INDV.L) jumped 7.8% to top the STOXX 600 index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-Phillips, Dhanya Ann Thoppil and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: we've, Steve Sosnick, Christine Lagarde, Joachim Nagel, Shreyashi Sanyal, Sherry Jacob, Phillips, Dhanya Ann Thoppil, Richard Chang Organizations: PMI, Interactive, U.S . Federal, European Central Bank, Amazon.com Inc, Indivior Plc, Trendyol, Viaplay, Volvo, Copenhagen Stock Exchange, Thomson Locations: U.S, Alibaba, Swedish, Sweden, Bengaluru

☆ European shares open flat; London leads on oil boost
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - European shares opened flat on Monday as markets failed to catch the tailwind from a bounce seen last week, while London stocks led regional gains following upbeat performances by energy firms on the back of higher oil prices. The pan-European STOXX 600 index (.STOXX) held its ground at 462.46 points, while London's FTSE 100 (.FTSE) index led gains with a 0.5% climb. The European oil & gas sector index (.SXEP) rose 1%, buttressed by stronger oil prices after top global exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July. Shares of Indivior Plc (INDV.L) surged 11% to top the STOXX 600 Index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Shreyashi Sanyal, Sherry Jacob, Phillips Organizations: FTSE, Saudi, Markets, U.S . Federal, Indivior Plc, Thomson Locations: London, Saudi Arabia, U.S, Bengaluru

☆ FedEx reaches tentative deal with pilot union
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

May 30 (Reuters) - FedEx Corp (FDX.N) has reached a tentative agreement with pilots of its air delivery unit who had voted in favor of a strike earlier this month seeking higher pay, the package delivery company said in a statement on Tuesday. The Air Line Pilots Association (ALPA) had voted "overwhelmingly" in favor of a strike if needed, when it had entered the final stages of a contract negotiation with the company. FedEx did not provide any further details on the agreement. The agreement prevents a possible strike after 99% of about 6,000 FedEx Express pilots that ALPA represents voted in favor of one, as they asked the company to meet recently improved industry standards for pilot pay. Reporting by Bharat Govind Gautam and Priyamvada C in Bengaluru; Editing by Shailesh Kuber and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: ALPA, Bharat Govind Gautam, Priyamvada, Shailesh Kuber, Sherry Jacob, Phillips Organizations: FedEx Corp, Air Line Pilots Association, FedEx, FedEx Express, Thomson Locations: Bengaluru

☆ European shares touch two-month low on dismal China data
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

May 31 (Reuters) - European shares hit an over two-month low on Wednesday as weak economic data from China fuelled concerns about a global slowdown and countered optimism from signs of easing inflation in some of the major euro zone economies. The pan-European STOXX 600 index (.STOXX) fell 0.7% to hit its lowest level since March 31. Both the indexes were also trading at a two-month low on Wednesday. China is Germany's main trading partner. Shares of troubled Swedish real estate firm SBB (SBBb.ST) sank 7.6% to a near seven-year low.

Persons: Sruthi Shankar, Sherry Jacob, Phillips Organizations: FTSE, CAC, SBB, Thomson Locations: China, Paris, Europe, Westphalia, Swedish, Bengaluru

☆ Gold set for monthly drop as US debt agreement saps appeal
▼ + stars: | 2023-05-31 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold set for first monthly fall in threeSilver, platinum, palladium face monthly lossGold defended support confluence zone at $1,940 level - analystMay 31 (Reuters) - Gold prices eased on Wednesday, set for a monthly drop, as progress in the U.S. debt ceiling deal and expectations that the Federal Reserve will likely raise interest rates further eroded bullion's safe-haven status. Spot gold fell 0.2% to $1,955.28 per ounce by 0243 GMT, and lost 1.7% so far this month. Gold prices have come off their recent near-record highs reached early in May. Higher interest rates dull the appeal for zero-yield bullion. A hawkish build in rate expectations has translated to some resilience in place, and until that reverses, upside for gold prices may continue to remain capped, Jun Rong added.

Persons: Gold, Joe Biden, Kevin McCarthy, Yeap Jun Rong, Jun Rong, Arundhati Sarkar, Shailesh Kuber, Sherry Jacob, Phillips Organizations: Federal Reserve, U.S, IG, Thomson Locations: U.S, Bengaluru

☆ Japan's Nikkei hits 1990 high on weak yen, US optimism; SoftBank surges
▼ + stars: | 2023-05-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

TOKYO, May 29 (Reuters) - Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen. SoftBank Group jumped more than 8% as shares of Japanese chip-related companies continued to outperform amid the AI euphoria that also propelled Wall Street peers. "The trigger for everything was Nvidia," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management. The broader Topix (.TOPX) rose as much as 1.36% to 2,175.13 in early trading but failed to get close to last week's 33-year high at 2,188.66. Reporting by Kevin Buckland; Editing by Himani Sarkar, Muralikumar Anantharaman, Sherry Jacob-Phillips and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

☆ AMP names Blair Vernon as CFO, dissolves Australian wealth management structure
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

May 29 (Reuters) - Australia's AMP (AMP.AX) said on Monday Blair Vernon will take over from Peter Fredricson as its chief financial officer and will dissolve the structure of its local wealth management arm in a bid to simplify its operational model. Shares of the 174-year-old wealth manager traded 1.4% higher as at 0224 GMT, marking their second straight session of gains. The move comes as assets under management at AMP's flagship Australian wealth management (AWM) unit fell about 13% to A$124.2 billion ($84.24 billion) for the year ended Dec. 31, affected by the decline in investment markets, and net cash outflows of A$5.3 billion. The company will also dissolve the AWM CEO role as part of its simplified structure, resulting in the current chief Scott Hartley leaving the Australian wealth manager in six months. ($1 = 1.4743 Australian dollars)Reporting by Navya Mittal and Sameer Manekar in Bengaluru; Editing by Muralikumar Anantharaman, Sherry Jacob-Phillips & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's Nikkei hits highest since July 1990 on weak yen, US optimism
▼ + stars: | 2023-05-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

TOKYO, May 29 (Reuters) - Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen. "The Nikkei crossed the psychological 31,500 mark on Monday, but in the end that level proved a bit too heavy," she said. "This week, I expect the Nikkei to steadily advance, but with short-term retracements to check its speed." The broader Topix (.TOPX) rose as high as 2,175.13, but failed to get close to last week's 33-year high at 2,188.66. Reporting by Kevin Buckland; Editing by Himani Sarkar, Muralikumar Anantharaman, Sherry Jacob-Phillips and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's Nikkei share average rises to highest since July 1990
▼ + stars: | 2023-05-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

TOKYO, May 29 (Reuters) - Japan's Nikkei share average rose on Monday to its highest level since July 1990, buoyed by optimism over a U.S. debt ceiling deal and a weaker yen. "The Nikkei crossed the psychological 31,500 mark today, but in the end that level proved a bit too heavy," she said. "This week, I expect the Nikkei to steadily advance, but with short-term retracements to check its speed." The broader Topix (.TOPX) rose as high as 2,175.13, but failed to get close to last week's 33-year high at 2,188.66. Reporting by Kevin Buckland; Editing by Himani Sarkar, Muralikumar Anantharaman and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's AMP names Blair Vernon as CFO, dissolves local wealth management arm
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

May 29 (Reuters) - Australia's AMP (AMP.AX) said on Monday Blair Vernon will take over from Peter Fredricson as its chief financial officer and the wealth manager will dissolve its local wealth management arm in an attempt to simplify the organizational structure. The move comes as assets under management at AMP's flagship Australian wealth management unit fell about 13% to A$124.2 billion ($84.24 billion) for the year ended Dec. 31, affected by the decline in investment markets, and net cash outflows of A$5.3 billion. Fredricson, who joined AMP last year, will be retiring and handing over the ropes to Vernon, who has been with the company for more than a decade. The company will also dissolve the CEO's role in its local wealth management arm, and as a result, the current chief Scott Hartley will be leaving the Australian wealth manager after six months. ($1 = 1.4743 Australian dollars)Reporting by Navya Mittal in Bengaluru; Editing by Muralikumar Anantharaman and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ European shares rise on US debt deal optimism
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

May 29 (Reuters) - European shares rose on Monday as investors drew comfort from a tentative deal reached by U.S. lawmakers to raise the debt ceiling and avert a default. The euro zone stocks index (.STOXXE) climbed 0.4% by 0715 GMT, with the bloc's banks (.SX7E) among the top gainers. Trading volumes were light, with markets in the United States, the UK and several European countries closed. U.S. President Joe Biden on Sunday finalised a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4 trillion debt ceiling until Jan. 1, 2025, and said the deal was ready to move to Congress for a vote. Reporting by Sruthi Shankar in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 edges higher as NatWest, StanChart shares rise
▼ + stars: | 2023-05-22 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies Domestic house prices rise in MayUK lowers stake in NatWest, shares climbDechra Pharma down after profit warningUS debt ceiling talks to resume after impasseFTSE 100 0.3%, FTSE 250 flatMay 22 (Reuters) - UK's blue-chip index edged higher on Monday, with NatWest shares rising after it agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, although lingering uncertainty over the U.S. debt ceiling impasse weighed on overall mood. The FTSE 100 (.FTSE) rose 0.3%, with bank stocks in the lead. Standard Chartered (STAN.L) rose 2.4% after Bank of America upgraded the stock to "buy" from "neutral". UK-listed stocks have traded in tight bands since late April as investors digested mixed corporate earnings, weakening outlook for commodity-linked stocks and standoff over the U.S. debt ceiling deal. ($1 = 0.7923 pounds)Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ LSEG, Experian shares weigh on UK's FTSE 100
▼ + stars: | 2023-05-17 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

The financial services sector (.FTUB3020) slid 1.1% while the broader FTSE 100 (.FTSE) shed 0.1%. Shares of Experian Plc (EXPN.L) slipped after the credit data firm forecast annual organic revenue to grow between 4% and 6%, while analysts were expecting a 5.8% growth. "In early trade, the market looks to be taking a cautious approach (with Experian's shares)," said Steve Clayton, head of equity funds, Hargreaves Lansdown. Among other movers, Watches of Switzerland Group Plc (WOSG.L) slumped 7.4% on a marginal sales decline in the first quarter. Bucking the sombre mood, Sage Group Plc (SGE.L) rose 3.6% after upgrading its annual organic recurring revenue growth forecast.

☆ FTC to block Amgen's $27.8 billion deal for Horizon Therapeutics - source
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

May 15 (Reuters) - The U.S. Federal Trade Commission is expected to file a lawsuit as early as Tuesday to block Amgen Inc's (AMGN.O) $27.8 billion deal to buy Horizon Therapeutics PLC (HZNP.O), a person familiar with the matter told Reuters. Amgen struck a deal last year to buy Horizon to strengthen its rare diseases drugs portfolio. Senator Elizabeth Warren, an outspoken critic of corporate consolidation, wrote to the FTC earlier this year expressing her concerns about pharmaceutical deals including the Amgen purchase of Horizon. The Democratic Senator said both Amgen and Horizon Therapeutics "have engaged in brazen price increases," including on Amgen's Enbrel for arthritis and Horizon’s Krystexxa, a gout medication. The deal would give Amgen two fast-growing drugs, the thyroid eye disease treatment Tepezza and Krystexxa.

☆ UAE's ADNOC to offer 15% stake in logistics unit IPO
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

DUBAI, May 10 (Reuters) - Abu Dhabi oil giant ADNOC intends to offer 15% of its shares in unit ADNOC Logistics & Services (ADNOC L&S) through an initial public offering (IPO) on the Abu Dhabi stock exchange, the company said on Wednesday. ADNOC will offer about 1.1 million shares in its maritime logistics services unit, which is expected to list on June 1, subject to market conditions, the statement said. Reuters had reported in March that ADNOC was gearing up to list ADNOC L&S in June. This will be the Abu Dhabi oil giant's second IPO this year after it raised $2.5 billion from its gas business in March. It was created in 2016 following a merger between Abu Dhabi National Tanker Co, Petroleum Services Co and Abu Dhabi Petroleum Ports Operating Co.

☆ European shares edge higher as energy, bank stocks gain; US inflation data eyed
▼ + stars: | 2023-05-08 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) rose 0.2% to 466.29 points by 0805 am GMT. The index was pressured last week when, unlike the Fed, the European Central Bank signalled more rate hikes were on the table. A slump in energy shares on weakness in crude prices also added to the declines. Energy (.SXEP) was the top sectoral gainer on Monday, up 0.8% as crude prices strengthened. Dutch Central Bank President Klaas Knot on Sunday said the ECB's rate hikes are starting to have an effect, but more will be needed to contain inflation.

SummarySummary Companies U.S. CPI due on WednesdayPlatinum regaining investors' attention - ANZMay 8 (Reuters) - Gold prices were listless on Monday, as cautious investors awaited a key U.S. inflation data due this week that could influence the Federal Reserve's monetary policy stance. Bullion prices fell more than 2% on Friday after stronger-than-expected U.S. payrolls data tempered expectations of interest rate cuts from the Fed. Gold would be among the "prime beneficiaries" if there are further signs of weakness in the U.S. economy, if the stars align for gold, prices could move to $2,100 sooner rather than later, Waterer said. On the physical front, China held 66.76 million fine troy ounces of gold at the end of April, up from 66.50 million ounces at end-March. "Platinum is regaining investors' attention as fundamentals improve," ANZ wrote in a note.

It was the first earnings the Washington, D.C.-based firm reported after former Goldman Sachs Inc (GS.N) executive Harvey Schwartz was named CEO in February. That resulted in after tax distributable earnings per share of 63 cents, which underperformed the average analyst forecast of 69 cents, according to Refinitiv data. Last month, Blackstone Inc (BX.N), the world's largest private-equity firm, reported a 36% drop in first-quarter distributable earnings due to slower asset disposals, primarily in its real estate portfolio. Carlyle said its credit funds appreciated by 3%, while secondaries funds rose 5% and corporate private-equity funds gained 1%. Blackstone had said its corporate private-equity funds had appreciated by 2.8% while liquid credit funds gained 3%.

SummarySummary Companies US dollar down 0.2%Powell: Won't rule out mild recessionPlatinum, palladium up 1%May 4 (Reuters) - Gold prices traded near record-high levels on Thursday, as U.S. yields and the dollar dipped after the U.S. Federal Reserve hinted it may pause its rate-hike cycle. Spot gold was up 0.1% at $2,040.46 per ounce by 0249 GMT. Earlier in the session, prices rose to $2,072.19 per ounce and hovered close to an all-time high of $2,072.49 scaled in 2020. U.S. gold futures rose 0.6% at $2,050.10. Spot silver rose 0.9% at $25.82 per ounce, platinum gained 1% to $1,060.16 while palladium edged 1.4% higher to $1,443.11.

SummarySummary Companies Fed rate decision due at 1800 GMTU.S. job openings drop in MarchMay 3 (Reuters) - Gold prices held steady above the key $2,000 level on Wednesday, while investors turned their attention to the U.S. Federal Reserve's interest rate-hike verdict due later in the day. The market mostly expects the U.S. central bank to raise interest rates by 25 basis points. "If the Fed were to surprise with a pause, this would suggest a deepening banking crisis and would likely send gold higher," said Clifford Bennett, chief economist at ACY Securities. Bullion is known as a hedge against inflation and economic turbulence, but higher rates tend to dent zero-yielding asset's appeal. Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ European shares edge lower as banking jitters resurface
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - European shares edged lower on Thursday, despite a raft of positive corporate earnings, as troubles at U.S. lender First Republic Bank continued to rattle investors over the global banking sector. The pan-European STOXX 600 index (.STOXX) was down 0.1% by 0720 GMT. The index was dragged lower by media shares (.SXMP), which dropped 1.6%, while Universal Music Group (UMG.AS) fell 4% after it posted a slump in its first-quarter core profit. Worries over the banking sector unnerved investors as shares of First Republic Bank (FRC.N) sank almost 30% on Wednesday, hitting a record low for the second consecutive day. Still, banking shares (.SX7P) rose 0.4%, led by Barclays Plc (BARC.L) that climbed 2.4% on an estimate-beating quarterly profit, as a resilient performance from its consumer bank offset pressure on key other business lines.

☆ European shares fall as banking sector jitters eclipse upbeat earnings
▼ + stars: | 2023-04-26 | by ( Shubham Batra | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 index (.STOXX) fell 0.7%, as regional banking stocks (.SX7E) dropped 1.2%. Earnings from Microsoft Corp (MSFT.O) and Google's parent Alphabet Inc (GOOGL.O) beat expectations, but recessionary worries in the world's largest economy kept investor sentiment fragile. Shares of Swiss banking software company Temenos AG (TEMN.S) jumped 10.2% after it reported first-quarter earnings above consensus. Meanwhile, ASM International NV (ASMI.AS) fell 10.0% after the Dutch semiconductor equipment maker reported a drop in first-quarter orders, citing softening market conditions, despite an estimate-beating revenue. Dassault Systemes SE (DAST.PA) slid 7.4% after the French software maker reported first-quarter numbers broadly in line with estimates but with a miss on software licenses.

☆ Gold holds tight range as traders seek direction from US data
▼ + stars: | 2023-04-26 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold held its ground at $1,997.40 per ounce by 0307 GMT. Investors seemed reluctant to offload their gold holdings amid weak U.S. economic data, and "trading conditions will remain choppy, and any dips towards $1,950 could be snapped up," said Matt Simpson, a senior market analyst at City Index. Recessionary fears already seem to be providing a floor for gold prices, and "Friday's personal consumption expenditures report will likely pack the biggest punch for gold," Simpson added. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal. Palladium gained 1.1% to $1,499.47, on track to snap two session of losses, if gains hold.

☆ India's Adani Ports starts $130 mln buyback of debt securities
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

April 24 (Reuters) - India's Adani Ports and Special Economic Zone (APSE.NS), a group company of the beleaguered Adani Group, said on Monday it has started a buyback programme of certain debt securities to partly prepay near-term loans due in 2024. Adani Ports said in an exchange filing that it has floated a tender of up to $130 million in outstanding debt, as it tries to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's report. The Economic Times first reported on Monday, citing sources, that the Adani Group plans to buy back foreign currency bonds of various group companies, starting with a $650-million tranche at its ports unit. Adani Group did not immediately respond to a Reuters' request for comment on its buyback plans. Shares and bonds of Adani Group have regained some lost ground over the past month or so after it repaid some debt and attracted a $1.9 billion investment from boutique investment firm GQG Partners.

☆ Google Bard can now help write software code
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Alphabet Inc's (GOOGL.O) Google said on Friday it will update Bard, its generative artificial intelligence (AI) chatbot, to help people write code to develop software, as the tech giant plays catch-up in a fast-moving race on AI technology. Last month, the company started the public release of Bard to gain ground on Microsoft Corp (MSFT.O). Google describes Bard as an experiment allowing collaboration with generative AI, technology that relies on past data to create rather than identify content. Bard will be able to code in 20 programming languages including Java, C++ and Python, and can also help debug and explain code to users, Google said on Friday. The company said Bard can also optimize code to make it faster or more efficient with simple prompts such as "Could you make that code faster?".

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