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India's Reliance launches e-commerce platform; Greek retail sales up 6.6% YOY


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India's Reliance launches e-commerce platform; Greek retail sales up 6.6% YOY


* India's Reliance Industries Ltd. rolled out an early version of its e-commerce platform called JioMart and has begun inviting customers in Mumbai to sign up for its home grocery delivery service, the Financial Times reported. JioMart, which aims to connect local shops to customers, will charge new registrants up to 3,000 Indian rupees, the report said. A source close to the matter reportedly told the newspaper that Reliance plans to expand JioMart to include its existing retail operations through loyalty programs and other incentives.

* Retail turnover in Greece rose 6.6% year over year in October 2019, but declined 4.3% from September, according to the Hellenic Statistical Authority. The growth was mainly driven by increased sales in pharmaceutical products and cosmetics. At constant prices, retail turnover grew 7.1% from October 2018 but fell 4.8% month over month. In seasonally adjusted terms, overall turnover decreased by 0.7% during the month.


* H & M Hennes & Mauritz AB launched a collection for American singer Billie Eilish in stores and online Jan. 2. The fashion line features Eilish's oversized style of shirts, hoodies and sweatshirt dresses.


* Energizer Holdings Inc. closed the sale of its European consumer battery business to Varta AG. As part of the agreement, Energizer will receive net proceeds of about $300 million, which it will use to pay down term loan debt, in addition to the €180 million purchase price. The deal is part of the European Commission's clearance conditions for Energizer's $2 billion purchase of Spectrum Brands Holdings Inc.'s battery and lighting unit.


* The Co-operative Group will launch a plant-based brand called Gro at 2,000 of its stores and in up to 4,000 independent retailers starting Jan. 8. In addition to the vegan range, which features 35 meatless products, the group will also offer an online same-day city center delivery service at 650 of its stores in 2020. The Co-op also plans to sell vegan beers and ciders during the year.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng gained 1.25% to 28,543.52.

In Europe, around midday, the FTSE 100 was up 0.84%% to 7,606.17, and the Euronext 100 increased 1.17% to 1,157.83.

On the macro front

The jobless claims report, PMI manufacturing index, the Fed balance sheet and the money supply report are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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