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Technology leads European shares lower, rate cut doubts loom

Technology leads European shares lower, rate cut doubts loom For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window May 17 (Reuters) - European shares kicked off Friday's trade on a weaker note, led by declines in technology and real-estate companies, as investors looked forward to euro zone inflation data for some clarity on the path for interest rate cuts beyond June.
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Iron ore jumps to over one-week high on China's property stimulus efforts

UPDATE 1-Iron ore jumps to over one-week high on China's property stimulus efforts Dalian and Singapore iron ore at more than one-week high Coking coal and coke both up more than 2% Steel benchmarks higher Jan-Apr crude steel output down 3% y/y Updates closing prices BEIJING, May 17 (Reuters) - Iron ore futures extended gains on Friday to their highest in more than one week and were on track for a weekly gain, supported by resilient c onsumption and a brighter demand outlook in top consumer Chin

Technology leads European shares lower, rate cut doubts loom

Technology leads European shares lower, rate cut doubts loom For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window May 17 (Reuters) - European shares kicked off Friday's trade on a weaker note, led by declines in technology and real-estate companies, as investors looked forward to euro zone inflation data for some clarity on the path for interest rate cuts beyond June.
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FCC rises after plan to spin off cement and real estate unit

BUZZ-FCC rises after plan to spin off cement and real estate unit ** Shares in Spain's FCC FCC.MC rise 3.2% after the building and infrastructure group said it plans to spin off its cement and real estate assets into a separate business ** The new entity, to be called Inmocemento, would be listed on the Madrid stock market ** FCC also said on Thurs

London stocks lacklustre but set for weekly gains

London stocks lacklustre but set for weekly gains For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100, FTSE 250 down 0.1% May 17 (Reuters) - The UK's benchmark index FTSE 100 was flat on Friday as gains in the personal goods sector were offset by losses in travel shares, while investors awaited comments from Bank of England's monetary policy panel member Catherine Mann later in the day.
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Russian rouble mostly unchanged against dollar

Russian rouble mostly unchanged against dollar MOSCOW, May 17 (Reuters) - The Russian rouble was mostly unchanged against the U.S. dollar on Friday. By 0715 GMT, the rouble RUBUTSTN=MCX was 0.07% lower at 91.03 to the dollar. Against the euro, the rouble EURRUBTN=MCX fell 0.09% to 98.95 and was unchanged at 12.59 against the yuan CNYRUBTOM=MCX . Brent crude oil LCOc1 , a global benchmark for Russia's main export, rose 0.6% to $83.78 a barrel.
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Musk pushes plan for China data to power Tesla's AI ambitions

EXCLUSIVE-Musk pushes plan for China data to power Tesla's AI ambitions Tesla develops plan for data center in China But also seeks to transfer EV driving data to US Tesla would need local partner for China data center China data key to Tesla's pivot to AI By Fanny Potkin SHANGHAI/SINGAPORE, May 17 (Reuters) - Tesla TSLA.O is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shi
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India's JSW Steel hits record high ahead of Q4 results

BUZZ-PREVIEW- India's JSW Steel hits record high ahead of Q4 results ** Shares of JSW Steel JSTL.NS up 2.7% to a record high of 910 rupees ** However, analysts expect the country's top steelmaker by capacity to post an over 64% fall in Q4 consol profit to 13.15 bln rupees ($157.5 mln), rev from ops to fall ~7% to 437.55 bln rupees ** Flat steel dom

Japan futures log largest weekly gain in nearly two months

RUBBER-Japan futures log largest weekly gain in nearly two months Updates closing prices, adds analyst comment and details SINGAPORE, May 17 (Reuters) - Japanese rubber futures snapped a four-day rally on Friday but still logged a second consecutive weekly rise, helped by higher physical prices in top producer Thailand and stronger oil prices. The Osaka Exchange (OSE) rubber contract for October delivery JRUc6 , 0#2JRU: closed down 0.5 yen or 0 .16 % at 322 yen ($2.07) per kg.

Berenberg downgrades OMV on valuation grounds after good Q1

BUZZ-Berenberg downgrades OMV on valuation grounds after good Q1 ** Berenberg cuts Austrian oil and gas group OMV OMVV.VI to "hold" from "buy" after a rise in the stock price following good Q1 results ** Chemical margins are still weak and OMV's underlying FCF is lower than for some peers, the broker says ** Talks to form a chemicals JV with ADNOC
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Israeli cabinet rifts over Gaza break out into the open

UPDATE 1-Israeli cabinet rifts over Gaza break out into the open Defence Minister highlights split over "day after" scenario Netanyahu sticks to aim of total victory over Hamas Costs of military government seen at $5 billion a year, newspaper reports Adds estimate of cost of operation reported by Israeli newspaper in paragraph 11 By James Mackenzie JERUSALEM, May 17 (Reuters) - Israeli government splits over the war in Gaza broke open this week, after the d efence m inister publicly demanded a c

Swedish c.bank's Thedeen says prospects for continued low inflation are favourable

UPDATE 1-Swedish c.bank's Thedeen says prospects for continued low inflation are favourable Adds quote in paragraph 3 STOCKHOLM, May 17 (Reuters) - Prospects in Sweden for continued low inflation are favourable and monetary policy is being adjusted with caution, Riksbank Governor Erik Thedeen said on Friday. "If the outlook for inflation holds, the rate could be cut two more times during the second half of the year," Thedeen said in the summary of a speech published on the central bank's website

Russia and Malaysia sign an agreement to avoid double taxation

Russia and Malaysia sign an agreement to avoid double taxation MOSCOW, May 17 (Reuters) - Russia and Malaysia have signed an agreement to avoid double taxation, the Russian finance ministry said on Friday, describing the move as a significant step towards redirecting Russian business to Asia and the Middle East. The ratification of the agreement is expected to take place before the end of this year and it to enter into force on Jan.1 1, 2025. Russia last year suspended double taxation agreements

Hedge funds play a weak Japanese yen

GRAPHIC-Hedge funds play a weak Japanese yen By Nell Mackenzie LONDON, May 17 (Reuters) - Pressure on Japan to prop up a weak yen may have ebbed, but currency weakness remains a headache for Tokyo. The yen is down 9.4% against the dollar so far this year, and looks set for a fourth year of declines. That's created a two-speed economy , with exports and tourism benefiting from a more competitive exchange rate while households and small businesses are squeezed by rising import prices.
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Hugs but not the full socialist-era kiss for Putin, Xi in Beijing

Hugs but not the full socialist-era kiss for Putin, Xi in Beijing BEIJING, May 17 (Reuters) - A vaunted 'new era' of strategic partnership between Russian President Vladimir Putin and his counterpart Xi Jinping begun in Beijing on Thursday may not exactly have been sealed with a kiss, but it did lead to rare hugs between them. Russia, grappling with Western sanctions after its invasion of Ukraine, is increasingly reliant on its booming trade with China, which is challenging U.S.

Rheinmetall Acquires Subsidies For Eur 7.7 Mln

BRIEF-Rheinmetall Acquires Subsidies For Eur 7.7 Mln May 17 (Reuters) - RHEINMETALL AG RHMG.DE : ACQUIRES SUBSIDIES TOTALING AROUND €7.7 MILLION FOR HYDROGEN AND ELECTRIFICATION PROJECTS HAS ACQUIRED SUBSIDIES FROM THE GERMAN FEDERAL GOVERNMENT AND THE STATE OF NORTH RHINE-WESTPHALIA (NRW) Further company coverage: RHMG.DE (Gdansk Newsroom)
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Taiwan lawmakers exchange blows in bitter dispute over parliament reforms

Taiwan lawmakers exchange blows in bitter dispute over parliament reforms By Ben Blanchard and Fabian Hamacher TAIPEI, May 17 (Reuters) - Taiwanese lawmakers shoved, tackled and hit each other in parliament on Friday in a bitter dispute about reforms to the chamber, just days before President-elect Lai Ching-te takes office without a legislative majority.

German farmers plant less winter wheat and rapeseed for 2024 crop

UPDATE 1-German farmers plant less winter wheat and rapeseed for 2024 crop Adds detail, other crops and quote HAMBURG, May 17 (Reuters) - Germany's winter wheat area for the 2024 harvest has been reduced by 8.3% year on year to about 2.6 million hectares, Germany’s national statistics agency estimated on Friday. Winter rapeseed sowing for the 2024 crop was also reduced, dropping by 5.8% to 1.1 million hectares, the agency said.

Swedish c.bank's Thedeen says prospects for continued low inflation are favourable

Swedish c.bank's Thedeen says prospects for continued low inflation are favourable STOCKHOLM, May 17 (Reuters) - Prospects in Sweden for continued low inflation are favourable and monetary policy is being adjusted with caution, Riksbank Governor Erik Thedeen said on Friday. "If the outlook for inflation holds, the rate could be cut two more times during the second half of the year," Thedeen said in the summary of a speech published on the central bank's website.

Reuters Daily Commodities Brief - May 17

Reuters Daily Commodities Brief - May 17 To access a PDF version of this newsletter, please click on the link below. https://share.refinitiv.com/assets/newsletters/Inside_Commodities/IC_05172024.pdf You can also read Reuters Daily Commodities Brief via TOPNEWS Commodities & Energy page or if you would like to receive this newsletter through your em

HSBC's biggest shareholder Ping An to hold investment in bank, source says

HSBC's biggest shareholder Ping An to hold investment in bank, source says HONG KONG, May 17 (Reuters) - Ping An Asset Management, HSBC Holdings PLC's largest shareholder, will continue to hold its investment in the Asia-focussed lender, a source close to the Chinese firm said on Friday. "We continue to be positive about HSBC and will continue to hold the investment," said the source, who declined to be named because of the matter's sensitivity.
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