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STOXX 600 down 0.6% in soft start to the weekRichemont slumps after organic sales growth disappointsWeak China data drags other luxury firmsArgenx jumps, helps Brussels stocks outshine EuropeJuly 17 (Reuters) - European shares fell on Monday as Richemont led a slide among luxury firms on weaker-than-expected organic sales growth and as lacklustre economic growth in China raised concerns about demand from the world's second-biggest economy.The pan-European STOXX 600 index (.STOXX) closed 0.6% lower, with luxury giants at the forefront of the selling pressure.Shares of the world's second-biggest luxury firm, Richemont...

LONDON, July 17 (Reuters) - Portfolio investors surged back into petroleum as Saudi Arabia’s unilateral production cut removed much of the previous downside risk to oil prices from slowing economies in China and Europe.Hedge funds and other money managers purchased the equivalent of 115 million barrels in the six most important petroleum futures and options contracts over the seven days ending on July 11.The increase was among the largest recorded over the last ten years (the 14th largest out of 539 weeks since 2013) and points to a significant adjustment...

ORLANDO, Florida, July 16 (Reuters) - Hedge funds have been positioned for a weaker dollar all year and those bets are paying off handsomely, especially against the Mexican peso, Brazilian real and sterling.The latest Commodity Futures Trading Commission data for the week to July 11 show speculators' held their largest net long sterling position since 2007, and their biggest bullish bet on the Mexican peso and Brazilian real in three years.Overall, funds' net short dollar position against a range of currencies was worth some $13.17 billion, down slightly from $13.58...