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The pan-European STOXX 600 (.STOXX) climbed 0.3% at 0936 GMT, boosted by gains in banks (.SX7P) and industrials (.SXNP). European shares were on track to snap a two-week winning streak, thanks to the worst single-day selloff so far this month on Thursday following disappointing earnings reports, weak U.S. economic data and hawkish comments from central bankers. Energy stocks (.SXEP) gained 0.8%, tracking firm crude prices on hopes of demand recovery in the world's second-biggest economy. "Europe has more exposure to China reopening and luxury is a big part of the European market," said Jamie Mills O'Brien, investment manager at Abrdn. "Some of the big players are pure China reopening bets."

The pan-European STOXX 600 (.STOXX) was down 0.8% at 0929 GMT, and on track to snap a six-day winning streak. Energy stocks (.SXEP) fell 1.9%, tracking weakness in crude prices, after U.S. economic data stoked fears of recession in the world's largest economy. "Economic data remains noisy, making it hard to say for certain that the recent encouraging economic trends will continue," said Mark Haefele, chief investment officer at UBS Global Wealth Management. Dutch central bank chief Klaas Knot added to the chorus, saying markets may be underestimating planned rate hikes by the European Central Bank and investors should take more seriously its forecast to raise rates in multiples of 50 basis points. Investors are focussed on minutes from last month's European Central Bank meeting due later in the day, as well as an appearance from ECB President Christine Lagarde at the World Economic Forum in Davos.

The pan-European STOXX 600 (.STOXX) was up 0.1% by 0910 GMT, extending gains for a sixth straight day on boost from rate-sensitive technology stocks (.SX8P) and industrials (.SXNP). Richemont (CFR.S) rose 2% on reporting higher quarterly sales as tourists returned to Europe and Japan. Still, the luxury group missed market estimates after sales in China plunged by almost a quarter. "For luxury, China is quite important with more hopes of rebounding activity in the first half of this year," said Emmanuel Cau, head of European equity strategy at Barclays Investment Bank. Reporting by Bansari Mayur Kamdar and Ankika Biswas in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Goldman Sachs Group Inc (GS.N) fell 3.5% after the bank reported a bigger-than-expected drop in quarterly profit, weighing the most on the Dow Jones Industrial Average (.DJI). "Widely expected to be awful, Goldman Sachs' quarterly results were even more miserable than anticipated," said Octavio Marenzi, chief executive at consultancy Opimas. The S&P 500 energy (.SPNY) and consumer staples (.SPLRCS) sectors were up about 0.6% each, while financial stocks (.SPSY) fell 0.6%. Earnings from Goldman Sachs and Morgan Stanley wrap up a mixed reporting season for big banks, most of which have put aside rainy-day funds to prepare for a looming recession. Analysts expect year-over-year earnings from S&P 500 companies to decline 2.4% for the quarter, according to Refinitiv data.

Jan 17 (Reuters) - Goldman Sachs Group Inc (GS.N) on Tuesday reported a bigger-than-expected 69% drop in fourth-quarter profit as it struggled with a slump in dealmaking and weakness in its wealth management business. Goldman is also curbing its consumer banking ambitions as Chief Executive Officer David Solomon refocuses the bank's resources to strengthen its core businesses such as investment banking and trading. Goldman's investment banking fees fell 48% in the latest quarter, while revenue from its asset and wealth management unit dropped 27% due to lower revenue from equity and debt investments. The bank reported a profit of $1.19 billion, or $3.32 per share, for the three months ended Dec. 31, missing the Street estimate of $5.48, according to Refinitiv IBES data. Fixed income, currency and commodities trading revenue was up 44%, while revenue from equities trading fell 5%.

☆ European shares edge up on pharma boost, UK's FTSE 100 nears record-high
▼ + stars: | 2023-01-16 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) gained 0.1% in early trading, boosted by a 0.8% rise in healthcare stocks (.SXDP). UK's FTSE 100 (.FTSE) rose 0.1% to 7,852.84, inching closer to a record 7,903.50. "Investors appear to have fallen back in love with UK assets, after a difficult period when FTSE 100 was the wallflower among global indices," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Weakness in luxury heavyweights such as LVMH (LVMH.PA) and Hermes International (HRMS.PA) weighed on Europe's STOXX 600 on Monday. German arms maker Rheinmetall (RHMG.DE) gained 2.9% on acquiring a stake in Dutch IT hardware specialist Incooling B.V.

The Labor Department's report showed U.S. consumer prices grew 6.5% on an annual basis in December, in line with expectations, from a 7.1% rise last month. Markets initially spiked lower after the data, but quickly reversed to edge higher as investors assessed the numbers. Consumer prices unexpectedly fell for the first time in more than 2-1/2 years in December, suggesting that inflation was now on a sustained downward trend. Some Fed policymakers earlier this week signaled the possibility of a 25-basis point hike during the February meeting, if the much-awaited consumer prices data further adds to evidence of a cooling economy. ET, Dow e-minis were up 138 points, or 0.4%, S&P 500 e-minis were up 17.25 points, or 0.43%, and Nasdaq 100 e-minis were up 45 points, or 0.39%.

☆ Futures muted ahead of key inflation data
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures muted: Dow, S&P flat; Nasdaq down 0.1%Jan 12 (Reuters) - U.S. stock index futures were subdued on Thursday ahead of the keenly awaited December inflation data that would offer more clues on the Federal Reserve's path of monetary tightening. ET (1330 GMT), is expected to show U.S. consumer prices grew 6.5% year-on-year in December, moderating from a 7.1% rise in November. Wall Street's main indexes ended sharply higher on Wednesday, led by major technology stocks, with the S&P 500 (.SPX) and Nasdaq (.IXIC) gaining more than 1% each. This week marks the start of the quarterly earnings season, with big banks expected to report lower profits, while overall S&P 500 earnings are expected to decline year-over-year, according to Refinitiv. ET, Dow e-minis were up 1 point, S&P 500 e-minis were down 0.5 point, or 0.01%, and Nasdaq 100 e-minis were down 11 points, or 0.1%.

☆ European shares rise on China reopening cheer, slow pace of rate hikes
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies STOXX 600 up 0.1%Jan 11 (Reuters) - European shares edged up on Wednesday, lifted by Bayer and LVMH, while optimism over reopening in China and hopes of less aggressive U.S. interest rate hikes aided the sentiment. The pan-regional STOXX 600 (.STOXX) gained 0.1% by 0818 GMT. Signs of slowing wage inflation last week had boosted bets of a less aggressive tightening by the Fed and the European Central Bank. Energy stocks (.SXEP) advanced 1.0%, while miners (.SXPP) gained 1.7%, as commodity prices rose on optimism over top consumer China's reopening. Bayer (BAYGn.DE) rose 2.1% after Bloomberg reported that activist investor Bluebell is pushing for a breakup of the German pharmaceutical company.

☆ Bed Bath & Beyond surges for third day in meme-stock rally
▼ + stars: | 2023-01-11 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

[1/2] A person exits a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. Among the top three companies traded on Fidelity's retail platform, Bed Bath & Beyond jumped 69% during the session and then another 20% after the bell. On Tuesday, Bed Bath & Beyond said it would lay off more employees to cut costs after reporting a bigger-than-expected quarterly loss. The rise and fall of Bed Bath & BeyondShort interest in Bed Bath & Beyond is $82.7 million, or 52.07% of its free float, analytics firm S3 Partners said in a research note. Bed Bath & Beyond's options volume was running nine times what is typical, based on recent trading, according to Trade Alert data.

☆ European shares head for best week since November, inflation data in focus
▼ + stars: | 2023-01-06 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) was flat by 0915 GMT. For the week so far, it was up 3.4% following a drop in natural gas prices and upbeat economic data. All eyes are on the December euro zone inflation data due at 1000 GMT, with economists expecting prices to have declined year-on-year for a second consecutive month. "Inflation readings in the euro zone were not all good news, and core inflation remains high," analysts at UBS Global Wealth Management said in a note. "Despite the encouraging data (this week), we expect central banks to stick with a hawkish stance at this time."

☆ Big Pharma drags European shares down; inflation data in focus
▼ + stars: | 2023-01-05 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The market was hoping the minutes could be a "blueprint to a pivot," said Danni Hewson, an analyst at AJ Bell. Healthcare stocks (.SXDP) dragged, with pharma giants like Novartis AG (NOVN.S) and Sanofi (SASY.PA) shedding more than 1% each. Investors await producer price data, due at 1000 GMT, for clues on the impact of the European Central Bank's aggressive tightening to tamp down inflation. Retail stocks were battered last year, posting their worst annual performance since 2008, as rising interest rates and high inflation put pressure on household budgets. Reporting by Bansari Mayur Kamdar in Bengaluru Editing by Vinay Dwivedi and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Futures muted as Fed minutes confirm more tightening ahead
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

Wall Street's main indexes erased some of their gains on Wednesday after meeting minutes showed the Fed was laser-focused on fighting inflation even as officials agreed to slow the interest rate hiking pace to limit risks to economic growth. "The meeting minutes suggested 'more evidence' is needed to confirm inflation is under control," said Victoria Scholar, head of investment at Interactive Investor. "Consequently, the Fed is expected to continue raising interest rates, with hawkish policy a continued headwind for equities into 2023." This comes a day after data showed a moderate fall in U.S. job openings, indicating a still tight market. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis were up 3.25 points, or 0.08%, and Nasdaq 100 e-minis were up 13.5 points, or 0.12%.

☆ Amazon layoff signals more pain for tech sector as recession fears mount
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

Jan 5 (Reuters) - The massive job cuts by Amazon.com Inc (AMZN.O), one of the biggest private employers in the United States, show the wave of layoff sweeping through the tech sector could stretch into 2023 as companies rush to cut costs, analysts said on Thursday. The drop in demand amid a steep rise in borrowing costs has led several executives from the sector to admit they hired in excess during the COVID-19 crisis. "Some of us will remember 2000 to 2003 after a massive bubble fed by cheap money, high investor expectations and plentiful cash," said Mould. "Whether we see a repetition or not will be very interesting as there is a danger of that." Reporting by Nivedita Balu, Yuvraj Malik and Bansari Mayur Kamdar in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

On the benchmark S&P 500 index, rate-sensitive real estate stocks (.SPLRCR) led the losses with a 2.2% drop, while financials (.SPSY) slipped 1%. The ADP National Employment report showed a much greater-than-expected rise in private employment in December, while another report showed weekly jobless claims fell last week. The reports came a day after data showed a moderate fall in U.S. job openings, in growing evidence that the labor market remains tight. A strong labor market has been a concern for markets pummeled by rising borrowing costs as it gives the Federal Reserve a reason to raise rates for longer than expected this year. The more comprehensive nonfarm payrolls report is due on Friday, which would provide further clues on labor demand and the rate hike trajectory.

☆ Upbeat economic data powers European shares to third day of gains
▼ + stars: | 2023-01-04 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) rose 0.8%, while France's CAC 40 (.FCHI) added 1.3%. Data on Wednesday showed euro zone business activity contracted less than initially thought, suggesting the bloc's recession may not be as deep as feared. Further, preliminary data showed inflation in France slipped in December from a record high in the previous month, tracking a slew of encouraging data from improving euro zone manufacturing numbers to a slowdown in Germany's inflation. The STOXX 600 index has risen 3% in the first three trading days of the new year, helped by strong economic data, easing of natural gas futures and hopes of a post-COVID recovery in China despite surging cases. Meanwhile, data showed fresh food prices at British supermarkets in early December were 15.0% higher than a year earlier, weighing on UK sentiment.

☆ European shares rise with focus on German inflation data
▼ + stars: | 2023-01-03 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-regional STOXX 600 (.STOXX) rose 1.6% in early trading, to its highest level in more than two weeks. Germany's CPI data, due at 1300 GMT, could provide a preview for inflation in the euro zone, with investors waiting to see if cost pressures in the region have weakened after the European Central Bank's aggressive monetary policy tightening. French Prime Minister Elisabeth Borne said inflation was expected to peak at the start of 2023 before then retreating. European stocks ended their first session of the year higher on Monday after euro zone manufacturing data suggested the worst had passed as supply chains begin to recover and inflationary pressures ease. Data on Tuesday also showed material shortages eased further in Germany's manufacturing sector towards the end of the year.

☆ European shares start 2023 on upbeat note on encouraging factory data
▼ + stars: | 2023-01-02 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-regional STOXX 600 (.STOXX) rose 0.8%, supported by consumer discretionary stocks. "With 10-year bund yields above 2.50%, relaxed year-end trading and the probable drop in HICP inflation are raising hopes for an upbeat start into the year," Commerzbank Research analysts said in a note, referring to the euro zone consumer prices inflation data due later this week. Rate-sensitive technology stocks (.SX8P), among the worst-performing shares last year, rose 1.5% on the day, despite more hawkish signals from the European Central Bank. Bond yields of Europe's largest economy, Germany, dropped from their highest levels in more than a decade as investors braced for inflation data this week. The German DAX (.GDAXI) gained 1.0%, while other European exchanges also started the year on a positive note.

☆ European shares slip as COVID surge in China weighs
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

The region-wide STOXX 600 (.STOXX) fell 0.4%. China-exposed luxury firms such as LVMH (LVMH.PA) and Richemont (CFR.S) weighed on the European index in early trading. Energy stocks (.SXEP) fell 0.6%, while miners (.SXPP) dipped 0.3%, tracking weakness in commodity prices. Consumer staples such as Nestle (NESN.S) and L'Oreal SA (OREP.PA) fell 1.2% and 0.5%, respectively. Reporting by Bansari Mayur Kamdar in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ European shares muted, UK outperforms as China-exposed stocks jump
▼ + stars: | 2022-12-28 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT, while the FTSE 100 <.FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up, analysts said. The FTSE 100 index has benefited this year from its exposure to commodities as prices of oil and base metals have rallied amid the Russia-Ukraine war. Meanwhile, STOXX 600 was headed for an annual loss of 12.2% as concerns about an economic recession due to aggressive monetary policy tightening by central banks globally weighed on the European index. The technology sector (.SX8P) weighed on STOXX 600 on Wednesday, tracking the overnight fall in U.S. peers as rising yields pressured the interest rate sensitive shares, a recurring theme this year.

☆ Russian rouble slips again as volatile year-end trade continues
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

The rouble lost about 8% against the dollar last week and is on course for a hefty monthly decline after an oil embargo and price cap came into force. At 0705 GMT, the rouble was 1.1% weaker against the dollar at 71.19 , moving in the direction of the almost eight-month low of 72.6325 struck last week. It lost 0.5% to trade at 75.37 versus the euro and shed 1.4% against the yuan to 10.12 . Brent crude oil , a global benchmark for Russia's main export, was down 0.7% at $83.7 a barrel. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow; Additional reporting by Bansari Mayur Kamdar; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Futures edge higher as investors assess China reopening
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.25%, S&P 0.19%, Nasdaq 0.14%Dec 28 (Reuters) - U.S. stock index futures edged higher on Wednesday as investors weighed the unwinding of pandemic restrictions by China against surging COVID cases in the world's second largest economy. "If the Chinese reopening story is positive for oil and commodity prices, it's bad news for global inflation," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. "The surge in Chinese demand will certainly boost inflation through higher energy and commodity prices and in response to higher inflation, the central banks will continue hiking rates." ET, Dow e-minis were up 84 points, or 0.25%, S&P 500 e-minis were up 7.25 points, or 0.19%, and Nasdaq 100 e-minis were up 15.75 points, or 0.14%. They hit their lowest level in more than two years in the previous session over demand worries in China.

☆ 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 personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, rose 0.1% last month after climbing 0.4% in October. On U.S. exchanges 7.75 billion shares changed hands on Friday compared with the 11.41 billion average for the last 20 sessions. Energy shares (.SPNY) stood out as the biggest advancers throughout the session as oil prices gained following news of Moscow's plans to cut crude output. Advancing issues outnumbered declining ones on the NYSE by a 2.06-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers. The S&P 500 posted 2 new 52-week highs and 1 new low; the Nasdaq Composite recorded 49 new highs and 228 new lows.

☆ Rouble slumps to weakest vs dollar since May
▼ + stars: | 2022-12-21 | by ( Alexander Marrow | ) www.reuters.com time to read: +3 min

By 0939 GMT, the rouble was down 2.5% against the dollar at 70.60 , after hitting 70.7550 earlier. The rouble has already lost more than 8% this week against the dollar and around 12% since a cap on Russian oil prices came into force. FALLING REVENUESThe rouble has been catching up with the weakening of Russia's balance of payments, said Rachel Ziemba, founder of Ziemba Insights. "In recent months, Russian export revenues have fallen as it sharply reduced gas exports and the EU oil embargo is limiting oil revenues." The rouble-based MOEX Russian index (.IMOEX) was 0.6% higher at 2,131.8 points, rebounding from a near eight-week low hit in the previous session.

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