07 July

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Energy, mining stocks push FTSE 100 higher; Royal Dutch Shell top gainer By Reuters

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(Reuters) - London's FTSE 100 rose on Wednesday as heavyweight mining and energy stocks tracked commodity prices higher, while Royal Dutch Shell (LON:RDSa) jumped on plans to boost shareholder returns. Royal Dutch Shell jumped 2.7% to the top of the FTSE 100 as it said it would boost its planned shareholder returns beginning in the second quarter after a sharp rise in oil and gas prices helped it reduce debt. The blue-chip FTSE 100 rose 0.5%, led by gains in energy stocks and base metal miners, up 2.2% and 1.9% respectively. The domestically focussed mid-cap...

07 July

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Chinese EV Maker XPeng Rises in Hong Kong Dual Listing Debut By Bloomberg

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(Bloomberg) -- XPeng Inc. edged higher in its Hong Kong trading debut after becoming the first Chinese electric-vehicle maker to finish a so-called homecoming share sale that raised $1.8 billion. The shares opened at HK$168 on Wednesday, 1.8% above their offer price of HK$165 each. The company went public in the U.S. last August, and its New York-listed shares have almost tripled from their IPO price. XPeng’s Hong Kong debut comes as China’s expanded crackdown on the technology industry has dealt a blow to global investors. The nation’s cyberspace regulator is investigating Didi Global Inc. --...

07 July

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Unveiling its last petrol car, Lotus sets off in pursuit of Porsche By Reuters

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By Nick Carey HETHEL, England (Reuters) - Lotus unveiled its last ever petrol car on Tuesday, a milestone in the British sportscar brand's journey towards becoming an all-electric and far bigger automaker by the end of the decade. Lotus and its Chinese owner Geely want to transform what is now a tiny company making some 1,500 sports cars a year into an electric powerhouse churning out tens of thousands of high-end saloons and sports-utility vehicles (SUVs) as well. "We recognise we need to increase our revenues and the sports car segment is limited," Lotus Managing...

07 July

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Asia shares stumble, bonds and dollar find safe-haven demand By Reuters

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By Wayne Cole SYDNEY (Reuters) - Asian share markets stumbled on Wednesday as a bout of risk aversion boosted bonds and the dollar, while investors braced for minutes from the Federal Reserve's last meeting which should underline a hawkish turn in U.S. monetary policy. Dealers were hard pressed to find a single catalyst for the sudden change of mood, but a Chinese crackdown on tech companies had clearly had an impact. Hong Kong stocks shed another 1% to near six-month lows, while U.S.-listed ride-hailing company Didi Global Inc shed more than 20% in New York. ...

07 July

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Chinese EV maker Xpeng shares fall in HK as it eyes global rollout By Reuters

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By Yilei Sun and Tony Munroe BEIJING (Reuters) -Chinese electric vehicle maker Xpeng Inc shares fell by up to 3.5% in its $1.8 billion Hong Kong dual primary listing on Wednesday as the company said it would develop future models based on product platforms designed for international markets. Xpeng shares opened 1.8% higher from the HK$165 per share issue price but the positive tone was short-lived. The stock then dropped 3.5% to HK$159.30 in early trade. Led by former Alibaba (NYSE:BABA) executive He Xiaopeng, the seven-year-old automaker is developing smart-car technologies including a smart...

07 July

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Euro near 3-month low after soft data, dollar looks to Fed’s minutes By Reuters

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By Hideyuki Sano TOKYO (Reuters) - The euro staggered near a three-month low against the dollar on Wednesday after disappointing German data raised doubts about the strength of the economic recovery, while the dollar awaited the Federal Reserve's minutes from its last policy meeting. The single currency changed hands at $1.1820, having touched a three-month low of $1.1806 on Tuesday. Against the yen, it fell to 130.81 yen, edging near its two-month low of 130.05 set on June 21. Investor sentiment in Germany, the euro zone's biggest economy, fell sharply in July, though it remained at...

07 July

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Fed Minutes, Job Openings, Crude Inventory: 3 Things to Watch By Investing.com

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By Dhirendra Tripathi Investing.com -- Stocks fell weighed by energy and financials as the 10-year Treasury yield dropped to its lowest level since February. Investors appear to be waiting for clues on the direction of the economy and interest rates from the Federal Reserve, which will release the minutes of its last policy meeting on Wednesday. Stocks have hit successive record highs in recent days, driven by strong economic data. But fears about possible economic effects of a fast-spreading variant of Covid could disrupt the optimism. Oil prices were also volatile on Tuesday after the Organization...

07 July

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Virgin Galactic’s Branson calls his upcoming spaceflight a ‘pinch-me moment’ By Reuters

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By Arlene Eiras and Steve Gorman (Reuters) - As Virgin Galactic finalizes plans for founder Richard Branson to join five others on a test flight to the edge of space on July 11, the British billionaire said his wife may be nervous about the launch but he himself wasn't the least bit afraid. "I've been looking forward to this for 17 years," Branson said in an interview on Tuesday from Spaceport America near the remote town of Truth or Consequences, New Mexico. He said pre-flight preparations only add to the excitement ahead of Sunday's scheduled launch, which will...

07 July

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Britain’s Lloyds enters private rental market By Reuters

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(Reuters) - British lender Lloyds Banking Group (LON:LLOY) said on Wednesday it has launched its private rental business and aims to buy more than 1,000 residential properties by the end of next year. Under the brand "Citra Living", Lloyds expects to have its first tenants within the next few weeks in Fletton Quays in Peterborough, the company said in a statement, adding that it plans to acquire around 400 properties by the year-end and double the target next year. Andy Hutchinson, Citra managing director, told the Financial Times earlier in the day that Lloyds...

07 July

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UK COVID measures stop income hit for most, but some miss out -IFS By Reuters

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By William Schomberg LONDON (Reuters) - Most Britons have seen "astonishing" stability in jobs and earnings during the pandemic, due to emergency state support, but some self-employed people, low-income families and people from ethnic minorities have suffered, a think-tank said. The Institute for Fiscal Studies said joblessness, earnings growth, arrears on household bill and food bank use in early 2021 were similar to pre-coronavirus levels. "Given that the pandemic has seen the biggest ever recorded drop in national income, the overall picture on deprivation and the labour market at the start of this year looks surprisingly...

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News

Energy, mining stocks push FTSE 100 higher; Royal Dutch Shell top gainer By Reuters

Chinese EV Maker XPeng Rises in Hong Kong Dual Listing Debut By Bloomberg

Unveiling its last petrol car, Lotus sets off in pursuit of Porsche By Reuters

Asia shares stumble, bonds and dollar find safe-haven demand By Reuters

Chinese EV maker Xpeng shares fall in HK as it eyes global rollout By Reuters

Euro near 3-month low after soft data, dollar looks to Fed’s minutes By Reuters

Fed Minutes, Job Openings, Crude Inventory: 3 Things to Watch By Investing.com

Virgin Galactic’s Branson calls his upcoming spaceflight a ‘pinch-me moment’ By Reuters

Britain’s Lloyds enters private rental market By Reuters

UK COVID measures stop income hit for most, but some miss out -IFS By Reuters

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