Stocks

Bloomberg European stocks and US equity futures started the week on the front foot amid hopes a partial trade deal between America and China eases a key risk for investors heading into year-end. Treasuries edged lower. The Stoxx Europe 600 became the latest major equity gauge to hit a new all-time high as it jumped for a fourth day, led …

Bloomberg For the owners of red-hot luxury brands such as LVMH’s Louis Vuitton and Kering SA’s Gucci, 2019 turned out to be a spectacular year in the stock market, confounding the dire predictions from some analysts. It may be hard to replicate that feat in 2020. Kering and Hermes International have each surged 37% this year, while juggernaut LVMH has …

Bloomberg PG&E Corp shares plummeted after California Governor Gavin Newsom rejected its bankruptcy restructuring plan, forcing the company to make sweeping changes to meet his demands. The state’s largest power company has until Tuesday to address conditions that Newsom laid out in a letter late last week rejecting its reorganisation proposal. The governor said the current plan falls “woefully short” …

Bloomberg Boris Johnson’s decisive victory may prove to be a turning point not just for the UK but for the entire scorned European stock market. The Conservative Party’s win filled investors with optimism that a major political risk related to Brexit will soon be removed, sending the European equity benchmark near a record high. Goldman Sachs Group Inc lifted its …

Bloomberg Even though it wasn’t the trade deal some analysts hoped for, China dodged more tariffs, and that may be enough to spur a market rally. The onshore yuan may rise and the Australian dollar will be boosted by a potential advance in crude oil and industrial metals, according to Vijay Valecha, chief investment officer at Century Financial Consultancy in …

Bloomberg Renault SA offered Luca de Meo, who heads Volkswagen AG’s Spanish brand, the role of chief executive officer of the French carmaker, La Vanguardia reported, citing unnamed officials at the company. Renault has also told De Meo, who runs SEAT, that within two years he could take the helm of the group’s alliance with Nissan and Mitsubishi. Bloomberg previously …

Bloomberg Stocks slipped with US equity futures before the Federal Reserve’s final policy decision of the year and amid lingering uncertainty over the progress of trade negotiations between America and China. Treasuries advanced. The Stoxx Europe 600 Index declined, led lower by media and real estate shares. Contracts on the main US equity gauges also drifted lower as traders awaited …

Bloomberg UTI Asset Management Co, India’s oldest mutual fund, is set to go public next year after some of its shareholders came under regulatory pressure to cut stakes. Life Insurance Corp (LIC), State Bank of India (SBI) and Bank of Baroda must reduce their stakes in UTI Asset by the end of 2020, the country’s market regulator said in a …

Bloomberg Home Depot Inc shares fell as much as 2.5% Wednesday as the retailer’s sales and operating margin guidance for next year disappointed Wall Street. The forecasts were provided ahead of the its 2019 Investor and Analyst Conference. Analysts weren’t completely surprised by the guide down, following Home Depot’s weaker-than-expected third-quarter report November19, which included cuts to its current year …

Bloomberg US equity-index futures retreated alongside stocks in Europe as investors turned cautious in the countdown to major central bank meetings and a deadline for fresh American tariffs on Chinese goods. Treasuries gained with gold. Contracts for the three main US gauges all dropped as traders await news on whether Washington will go ahead with a planned December 15 tariff …