Stocks in the consumer sector rose as cooling inflation undermined projections of higher borrowing costs in the U.S.
Conagra Brands cut its rich quarterly dividend in half, as the food maker works to rebalance its capital-allocation program. Conagra said the reduced dividend will also help accelerate progress toward the company's leverage target while bolstering its financial flexibility.
Shares in Richemont jumped after the Switzerland-based luxury company reported sales for its fiscal first quarter that came ahead of expectations.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
