Despite bitcoin has plunged below $10,000, almost halving in value from its peak price near $20,000 in late December, it is undeniable that alternative currencies are gaining attention against fiat currencies. However, as reported by Flossbach von Storch they all lack one characteristic absolutely necessary for money to have value over the long term: its existence as a commodity that has intrinsic value or can be changed into one that does.
Ryanair’s share price rose 85% in the period between the Brexit vote and August 2017. But over the last few months, it has seen falls which have brought it close to the minimum levels reached immediately after Brexit.
Yesterday, the European Parliament asked for the EU’s renewable target for 2030 to be increased to 35% compared with the current 27%. The move is part of the community bloc’s efforts to meet the commitments included in the Paris Agreement.
Spanish households reduced their savings efforts marginally in the third quarter of 2017. Despite the Spanish banks’ attempts to offer positive returns on deposits against a backdrop of negative interest rates from the ECB, families are looking for greater returns from other kinds of financial assets like investment funds.
Nick Ottens via Atlantic Sentinel | The liberal Citizens party has risen to the top of the polls in Spain, receiving 26-27 percent support in two recent surveys against 23-25 percent for Prime Minister Mariano Rajoy’s conservative People’s Party.
An average user’s electricity bill rose 10.8% in 2017 from a year earlier, according to Facua-Consumidores en Acción (Consumers in Action). Whatsmore, Facua denounces the “brutal” 16% increase in tariffs for energy consumed.
Basque wind turbine manufacturer Siemens Gamesa will supply the turbines for Cepsa’s first wind farm in Jerez de la Frontera (Cádiz), the company said on Tuesday.
Today we will have Eurozone CPI data, without any surprises on the horizon. The average EMU CPI rate will come in at 1.5% in 2017 compared with 0.2% in 2016. This is after a year when the annual inflation rate actually reached 2% in February when the increasing effect of energy prices was at its most aggressive.
“Very few people really know what REE does, expect that, erroneously, it “belongs to the State”(…) Our foreign investors now account for 75% of the total (…) The system works very well. The price of our electricity may be a little higher than in Europe but we have some determining factors such as very complicated physical conditions.” Who speaks is Socorro Fernández Larrea, Red Eléctrica de España Board member.
All it took was for sovereign bond yields to recover +20 bp to dampen enthusiam in the European property sector during 2017. With the current level of European 10-year sovereign bonds, property firms can obtain all the financing they want.