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EMEA Morning Briefing : Shares to Fall as Fed -2-

06/21/2021 | 12:11am EDT

The 60-year-old hard-line judge, who won Friday's presidential election in Iran, was sanctioned two years ago by the Trump administration for his close ties to Iranian Supreme Leader Ali Khamenei. As Iran's president-elect, Mr. Raisi has emerged in a pivotal role that could determine the fate of the 2015 multination accord.

The Natural-Gas Glut Has Evaporated, Driving Prices Higher

Natural-gas prices are starting the summer air-conditioning season nearly twice as high as they were a year ago.

Demand for the fuel is picking up as the world's economies reopen and as Americans dial down their thermostats for what is expected to be a hot summer. Meanwhile, U.S. producers have stuck to the skimpy drilling plans they sketched out when prices were lower, eliminating the glut that was keeping them depressed.

Vivendi Agrees to Sell 10% of Universal to William Ackman

Vivendi SE on Sunday reached an agreement for a 10% investment in Universal Music Group by William Ackman's Pershing Square Tontine Holdings, valuing the world's largest music company at about $40 billion.

In an email to UMG employees, CEO Lucian Grainge called the investment a "strong validation." The deal-previously reported on by The Wall Street Journal-follows a 20% stake investment by Chinese internet giant Tencent and comes days before Vivendi shareholders will vote on the potential listing of 60% of UMG shares on the Euronext Amsterdam stock exchange.

Terrorist Attacks, Immigration Debates Push French Voters Rightward, Boosting Le Pen

L'ISLE-SUR-LA-SORGUE, France-Wedged between river tributaries in southeastern France, L'Isle-sur-la-Sorgue is known for its cobblestone streets and its sun-dappled outdoor market.

But ahead of local elections this month, the debate in this small town, and in others across France, has centered on the fallout from the beheading of a schoolteacher near Paris last fall by a Chechen refugee as well as the slaying of churchgoers in Nice weeks later by a Tunisian migrant.

U.K. Home Prices Continue to Rise But Pace Is Slowing

U.K. house prices are continuing to rise to new highs though at a slower pace than recent months, according to new data from property portal Rightmove PLC.

The average price of property coming to the market between May 9 and June 11 rose by 0.8%, or GBP2,509 ($3,494), a more modest climb than the preceding month's 1.8% but still pushing the national average to a record high of GBP336,073 for the third consecutive month. The portal measured 125,582 prices across the U.K. over the period.

European Union Lifts Bond-Sale Ban for Some Banks

The European Union lifted the ban against some banks that had been excluded from working on its bond sale earlier in the week.

JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Barclays PLC, Deutsche Bank AG, Nomura Holdings Inc., UniCredit SpA and Crédit Agricole SA are among the banks cleared to work on future bond sales, according to an EU official.

Write to paul.larkins@dowjones.com

Expected Major Events for Monday

08:00/POL: May PPI

08:00/POL: May Industrial Production Index

08:00/POL: May Agricultural prices

09:00/LUX: May Unemployment

13:00/BEL: Jun Consumer Confidence Survey

16:59/HUN: 1Q Balance of Payments

16:59/LUX: 1Q Balance of Payments

17:59/POR: Mar ICSG Copper Report

17:59/UK: May Aluminium Production report

22:00/NED: May House Price Index

All times in GMT. Powered by Kantar Media and Dow Jones.

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

06-21-21 0010ET

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