Cannes, the playground of the rich and famous on the French Riviera, is not just known for its annual film festival. Each year it also rolls out the red carpet for visitors to MIPIM [Marché International des Professionnels d'Immobilier] - the international investment and real estate fair billed as “the world’s leading property market”. Some 26,000 real estate developers and urban planners from more than 100 countries gathered there for this year’s event, which marked MIPIM’s 30th anniversary. The four-day gathering has become a place for cities and civic leaders to woo investment and partners. This year there were 108 real estate projects from 30 countries on display. MIPIM’s Director of Real Estate, Filippo Rean, told Business Line: “It’s a very good platform for France and Europe to showcase, because the European presence is actually the leading one. We cover the whole of Europe from Moscow to Portugal. They all showcase the best … [Read more...] about Why Cannes is a magnet for the world’s real estate industry
Why euro is falling
By Dhara Ranasinghe LONDON (Reuters) - For euro zone debt markets, life after the end of the European Central Bank's asset-buying buffer may not be that bad after all -- bonds from the bloc's three biggest markets have just enjoyed their best January in three years. This was the first month without the protective shield of new bond-buying by the ECB, which ended its huge stimulus programme last month after more than three years, yet euro zone governments' borrowing costs are near multi-month lows. And 10-year yields in Germany, France and Italy are set for their first January fall since 2016, confounding predictions of a bond selloff as soon as the biggest debt buyer stepped away. French yields, down 10 basis points in January, are set for their biggest monthly drop in eight months, while Spanish yields have slid 16 bps -- on track for their best month since March. (Graphic: January: A stellar month for euro zone bond markets link: https://tmsnrt.rs/2TjiV9p). In many ways, the solid … [Read more...] about No ECB? No sweat for euro zone bond markets
LONDON (Reuters) - Global stocks rose on Friday, as strong earnings helped to underpin investor sentiment in the face of growing signs that the global economy is slowing and a still unresolved trade dispute between the United States and China. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 24, 2019. REUTERS/Staff The euro rebounded against the dollar after falling to its lowest in six weeks following Thursday’s European Central Bank meeting. European markets opened firmer, with the automakers and tech sector indices rising 1.5 percent and 1 percent respectively. The pan-European STOXX index hit its highest since Dec. 4, last up 0.7 percent on the day. [.EU] The gains came as stocks rose overnight in Asia and the United States on the back of strong earnings from U.S. tech firms. MSCI’s All-Country World Index .MIWD00000PUS, which tracks shares in 47 countries, was up 0.3 percent on the day. But the … [Read more...] about Global stocks gain on earnings, euro rebounds after dovish ECB
By: John Stepek 25/01/2019 This article is taken from our FREE daily investment email Money Morning. Every day, MoneyWeek's executive editor John Stepek and guest contributors explain how current economic and political developments are affecting the markets and your wealth, and give you pointers on how you can profit.Sign up free here. Anyone who’s read Money Morning for any length of time might have guessed I’m not a fan of central bankers. But I have to give Mario Draghi, boss of the European Central Bank (ECB), my grudging respect. He has a genuinely tough job. The ongoing survival of the euro really is in no small part down to his skilful poker playing and diplomatic wrangling. Trouble is, his job is only half-done. He’s papered over the cracks, but the gaping chasms in the eurozone financial system are still there. And he’s out of time – he leaves this year. So how is he likely to handle his succession, with European growth … [Read more...] about Why investors could get a pleasant surprise this year
Who are the yellow vests who are still protesting? The Gilets Jaunes are as disparate as ever but the influence of the hard-right and hard-left becomes more visible as overall numbers shrink. The core of the original movement was rural and outer-suburban, spontaneous and non-ideological. The Gilets Jaunes included workers, pensioners and many small businesspeople, many of whom had not voted for decades. From the beginning, demonstrations in Paris and other cities attracted a violent fringe of provincial yellow jackets but also piggy-back activists from the anti-semitic ultra-Right and the anti-capitalist ultra-Left. The turn-out for the weekend protests has fallen from 280,000 on 17 November to 50,000 last Saturday. Many of the remaining Gilets Jaunes are peaceful and moderate but the “minority” of violent protesters is growing proportionately larger. (Yellow vest "Gilets Jaunes" march along Rue Quatre September in Paris on January 5, 2019. AFP) Why are they still … [Read more...] about Q&A on France’s yellow vests: Why are they still protesting and who is to blame for the violence?