16 June

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Financials, energy stocks boost FTSE 100 as economy runs hot By Reuters

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(Reuters) - London's FTSE 100 index edged higher on Wednesday, lifted by gains in heavyweight financials and energy stocks, while data showed inflation jumped past the Bank of England's target as Britain emerges from a third national lockdown. The blue-chip index rose 0.4% to its highest since February 2020. Life insurers and banks provided the biggest boost to the index. Oil majors BP (LON:BP) and Royal Dutch Shell (LON:RDSa) gained 0.9% and 0.4% respectively, tracking crude prices. The domestically focused mid-cap FTSE 250 index advanced 0.5%. British inflation unexpectedly jumped above...

16 June

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Oil gains lift European shares, STOXX index holds just off record high By Reuters

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(Reuters) - European shares rose on Wednesday, as energy stocks tracked a jump in oil prices, while investors turned to a Federal Reserve meeting for cues on whether the central bank was beginning to debate tapering its ultra easy monetary policy. The pan-European STOXX 600 was up 0.3% by 0704 GMT. If gains hold until the end of the day, the index will mark its longest gaining streak in three-and-a-half years. The benchmark index has scaled record highs this year as investors bet a steady vaccination programme would jumpstart economic growth, but a recent jump in...

16 June

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Made.com shares fall 7% after completing London IPO By Reuters

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By Abhinav Ramnarayan LONDON (Reuters) - Shares in online furniture retailer Made.com opened 7% lower on its stock market debut on Wednesday, the latest company to suffer losses on its first day of trading in what has been a relentlessly busy year for stock market listings. Made.com company priced its London initial public offering (IPO) at 200 pence per share, the bottom of a previously announced price range, valuing it at up to 826 million pounds ($1.17 billion). But shares opened 7% lower at the open and were down 5% at 0720 GMT. Some...

16 June

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Japan shares lower at close of trade; Nikkei 225 down 0.51% By Investing.com

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Investing.com – Japan equities were lower at the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors propelled shares lower. At the close in Tokyo, the Nikkei 225 declined 0.51%. The biggest gainers of the session on the Nikkei 225 were Kawasaki Kisen Kaisha, Ltd. (T:9107), which rose 4.94% or 175.0 points to trade at 3715.0 at the close. CyberAgent Inc (T:4751) added 3.99% or 89.0 points to end at 2322.0 and Inpex Corp. (T:1605) was up 3.70% or 30.0 points to...

16 June

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Fed expected to signal start of monetary policy shift debate By Reuters

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By Howard Schneider WASHINGTON (Reuters) - Federal Reserve officials on Wednesday are expected to at least flag the pending start of talks about when and how to exit from the crisis-era policies the U.S. central bank put in place at the onset of the coronavirus pandemic last year. With U.S. inflation rising faster than expected and the economy forecast to grow at its quickest pace in decades this year, some policymakers have begun questioning whether the Fed should continue to keep its benchmark short-term interest rate near zero and leave unchanged a massive bond-buying...

16 June

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Credit Suisse prepares insurance claims on Greensill Capital losses – FT By Reuters

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(Reuters) - Swiss bank Credit Suisse (SIX:CSGN) has prepared its first insurance claims on losses stemming from its $10 billion of funds tied to collapsed finance group Greensill Capital, the Financial Times reported on Wednesday. Credit Suisse is attempting to recoup billions of dollars owed to the group of supply-chain finance funds, which it was forced to close in March, the report added https://on.ft.com/3gv5dOZ. The bank has started the process of claiming on the related insurance, primarily from Japanese group Tokio Marine, the newspaper said, citing people with knowledge of the process. ...

16 June

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Hyundai Motor Group chases local chipmakers to cut exposure to shortage By Reuters

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By Heekyong Yang SEOUL (Reuters) - Hyundai Motor Group is in talks with South Korean chip companies to help it reduce reliance on foreign supplies amid a global shortage that has halted assembly lines at automakers around the world, four people familiar with the matter told Reuters. Hyundai officials have met with local "fabless" firms - which design chips but outsource manufacturing to the likes of TSMC and Samsung Electronics (LON:0593xq) Co Ltd - as it explores long-term strategies to better diversify its supply chain, according to two people at local fabless firms who met...

16 June

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UK in talks with 6 firms about building gigafactories for EV batteries – FT By Reuters

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(Reuters) - Britain is in talks with six companies for building gigafactories to produce electric vehicle batteries, the Financial Times reported on Wednesday, citing people briefed on the discussions. Ford Motor (NYSE:F) Co, Nissan Motor Co Ltd, LG Corp, Samsung (LON:0593xq) and start-ups Britishvolt and InoBat Auto are in talks with the British government or local authorities about locations for potential factories and financial support, according to the report. (https://on.ft.com/3wu1eYz) The British government's plan to prohibit the sale of new petrol and diesel cars by 2030 and hybrids by 2035 will require the country's vehicle plants...

16 June

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Dollar holds near one-month high; focus on Fed’s inflation take By Reuters

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By Hideyuki Sano and Kevin Buckland TOKYO (Reuters) - The dollar held near a one-month high against a basket of currencies on Wednesday as investors tried to ascertain if the Federal Reserve might alter the language on its stimulus following a recent jump in U.S. inflation. The dollar index stood at 90.528, having hit a one-month high of 90.677 on Tuesday despite mixed U.S. economic data. U.S. retail sales dropped more than expected in May but sales in April were revised sharply up and are way above their pre-pandemic level. With spending rotating back to services...

16 June

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Asia on tenterhooks for Fed, oil keeps climbing By Reuters

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By Wayne Cole SYDNEY (Reuters) - Asian shares were subdued on Wednesday with investors wary of any hint of hawkishness from the U.S. Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money. A looming data dump on Chinese retail sales and industrial production offered another reason for caution, with some modest slowdown in annual growth expected. Moves were modest, except in the oil market where prices hit the highest since April 2019 on a potent mix of post-pandemic demand and restricted production. MSCI's broadest index of Asia-Pacific shares outside...

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News

Financials, energy stocks boost FTSE 100 as economy runs hot By Reuters

Oil gains lift European shares, STOXX index holds just off record high By Reuters

Made.com shares fall 7% after completing London IPO By Reuters

Japan shares lower at close of trade; Nikkei 225 down 0.51% By Investing.com

Fed expected to signal start of monetary policy shift debate By Reuters

Credit Suisse prepares insurance claims on Greensill Capital losses – FT By Reuters

Hyundai Motor Group chases local chipmakers to cut exposure to shortage By Reuters

UK in talks with 6 firms about building gigafactories for EV batteries – FT By Reuters

Dollar holds near one-month high; focus on Fed’s inflation take By Reuters

Asia on tenterhooks for Fed, oil keeps climbing By Reuters

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