Why Europe’s PIIGS are flying
The singles went down to the final match, and as he did at the Ryder Cup in Medinah, Francesco Molinari anchored the winning side, securing a long-awaited Continental Europe victory with a 3 & 2 defeat of Chris Wood at Saint-Nom-La- Breteche. “Very emotional — it’s been a tough day,” said winning captain Jose Maria Olazabal. “Everything went to the last match. The boys really played well today and I’m very, very happy to have won the Seve Trophy this time.” GB&I struck first on Sunday when Tommy Fleetwood claimed his first point of the week with a 3 & 2 win over Joost Luiten, who was unbeaten entering the match. After Jamie Donaldson and Gonzalo Fernandez-Castano halved their match, Ryder Cup standout Nicolas Colsaerts drew Continental Europe even, draining a 5- footer for par at the last to secure a 1-up win over Paul Casey. Frenchman Gregory Bourdy then continued his stellar play and pushed Continental Europe in front with a 4 & 3 triumph over Scott Jamieson. Bourdy, who never trailed in the match, became the first player in the event’s history to win five points out of five. “I’m so happy to achieve that, and it was an amazing week for me,” said Bourdy. The jostling continued, however, as Marc Warren wrapped up a 4 & 3 ousting of Thorbjorn Olesen to again square the tournament, 12 – 12, with four matches left on the course. From there, Continental Europe took control. Jimenez put the finishing touches on his convincing win, which was aided in part by the ailing Lynn, who twice dropped his ball into the water. Matteo Manassero then increased Continental Europe’s advantage to a pair with a 3 & 2 defeat of Stephen Gallacher.
Vardy, CFA Europe is the continent U.S investors love to hate. After all, the “Old Continent” is synonymous with financial crises, stagnating economies, and the unintended consequences of dysfunctional economic integration. Yet, with Europe officially out of recession, the “Old Continent” is showing a spring in its step. Investor sentiment toward Europe is the best it’s been in two years. The economic headlines in the United Kingdom though not in the euro zone are positively chipper. “Animal spirits” are improving. And seasoned investors know that catching turning points is the key to eye-popping returns, in other words, when things start going from “bad” to “less bad.” Still, you may be surprised to learn that it’s Europe’s much-maligned PIIGS (Portugal, Ireland, Italy, Spain and Greece) economies that have been among the world’s best-performing stock markets since you returned to work after Labor Day. Here are a few investment thoughts about potentially taking advantage of the situation. Global X FTSE Greece 20 ETF /quotes/zigman/7628632/quotes/nls/grek GREK +5.06% :up 30.5% since Sept. 1. If you ever want to empty a room at an investment conference, tell your audience that you recommend investing in Greece.
UPDATE 4-Codelco hikes some Europe copper premiums to $112 -sources
As the world’s top copper producer, Codelco carries significant weight on the global metals market and its premiums are seen as an industry benchmark. The company declined to comment on premiums on Monday. The figure floated by sources close to the Chilean state company is above the $105 per tonne put forth by Aurubis AG , Europe’s biggest copper smelter. This year spot premiums are well above 2013’s, giving producers more leverage to seek higher prices again next year. Still, some industry experts warn the world economy remains fragile, and that big premium increases might be too ambitious. “I don’t see any fundamental reason for the premium to be higher,” said Anton Berlin, head of strategic marketing at Norilsk Nickel, the world’s No. 1 nickel producer and 12th largest copper producer. “Looking at the market fundamentals, I see no change next year from this year,” he said in an interview with Reuters. London copper stagnated on Monday on low volumes as investors paused to monitor LME Week, while China was absent from the market for the last day of a week-long break. Benchmark copper edged down 0.2 percent on the London Metal Exchange (LME) to $7,245 a tonne at the close of ring trading, after gains of 1 percent in the previous session. STEEPER CHINA PREMIUM HIKE EYED The $112 figure suggests Codelco will clinch an even higher increase with its Chinese clients, one Chile-based trader said. The trader estimated that premiums for the Asian giant – a stronger market than crisis-hit Europe – will reach over $130 and probably up to $140. This year’s premiums stood at $98. Japanese smelters shocked the market with a proposed 45 percent increase in charges to Chinese end users, Reuters reported in September.
Europe stocks fall; luxury-goods firms hit
EDT Europe stocks fall; luxury-goods firms hit Want to see how this story relates to your watchlist? Just add items to create a watchlist now: LVMH Moet Hennessy Louis Vuitton (MC) Add By Barbara Kollmeyer , MarketWatch MADRID (MarketWatch) European stock markets pared the worst of their losses on Monday, but still ended lower as the U.S. government shutdown entered a second week with little hope for a near-term resolution. The Stoxx Europe 600 index /quotes/zigman/2380150 XX:SXXP -0.23% fell 0.2% to close at 309.18, after earlier dropping nearly 1% and touching levels last seen in early September. The index closed out last week with an 0.7% loss. Click to Play Watch Alcoa, Boeing and BlackBerry Tomi Kilgore takes a look at which stocks traders will be watching during market action, including Alcoa, Boeing, and BlackBerry. Photo: Getty Images. Among decliners, LVMH Moet Hennessy Louis Vuitton SA /quotes/zigman/165816 FR:MC -1.06% /quotes/zigman/165816 FR:MC -1.06% fell 1.1%. In a report published Sunday , Reuters said analysts are growing increasingly concerned about the luxury groups brands and are worried these wont be able to provide alternative growth now that cash cow Louis Vuitton has fallen on tough times. A warning from Treasury Secretary Jacob Lew that Congress is playing with fire if it doesnt increase the debt ceiling in time increased investors anxiety about the U.S. budget stalemate and looming deadline to raise the countrys debt ceiling. Government shutdown: Track the latest news out of Washington /conga/story/2013/10/governmentshutdownstream.html 282136 The news that U.S. politicians have again put self-interest ahead of the greater good of the country by failing to make any progress in sorting out the budget or tackling the debt ceiling will have surprised few, said Alastair McCaig, market analyst at IG. The U.S.