LONDON (Reuters) -Shell reported on Thursday a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.

PARIS (Reuters) -French lender Societe Generale beat first-quarter earnings expectations on Thursday but booked higher provisions for bad loans as its customers feel the economic impact resulting from the war in Ukraine .

The European Central Bank should not raise interest rates in July, even though the inflation outlook suggests it can gradually reduce support for the economy, ECB board member Fabio Panetta told Italian newspaper La Stampa.

LONDON (Reuters) -BMW posted a rise in first-quarter profit on Thursday, boosted by a reevaluation of the German car maker's stake in its Chinese joint venture and strong pricing, and maintained its 2022 outlook despite volatile prices for commodities and energy.

Oil prices extended gains on Thursday on supply concerns as the European Union proposal laid out plans for new sanctions against Russia, including an embargo on crude in six months, offsetting concerns over weaker Chinese demand.

Carmaker Stellantis said on Thursday its sales rose 12% in the first quarter, supported by strong pricing and vehicle mix and also by exchange rate tailwinds, but it sees only a partial recovery in microchip supply issues this year.