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Articles by Victor Jimenez

About the Author

Victor Jimenez
London contributor at thecorner.eu, reporting about the City and the Eurozone economies. He regularly writes for Spanish newspaper group Prensa Ibérica--some of his features include shared work with journalists of The Daily Telegraph and the BBC.
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In Europe 7th March 2012

Who believes ECB’s refinancing programmes are game-changers?

LONDON | The latest edition of the liquidity expansion programme developed by the European Central Bank received Wednesday a warm welcome among several investment houses in the City. From their point of view, Long-Term Refinancing Operations or LTRO would not only help keep afloat European entities, within and out the euro zone, but prop up optimistic prospects over the global economic performance. In a report Schroders released today, chief economist…

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Spanish economy 6th March 2012

What they said when president Rajoy bent the deficit target bar

LONDON | Odd. After months of mild fireworks of demonstrations against austerity throughout Spain, it seems hard to believe that Ambrose Evans-Pritchard, international economics editor at The Daily Telegraph, would be struck. Even president Mariano Rajoy acknowledged that his reform plans for the labour market would probably spark a general strike. But Evans-Pritchard was struck, nevertheless: “In the twenty years or so that I have been following EU affairs closely, I cannot remember such a…

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Spanish economy 2nd March 2012

Spanish hotels must be booming

They are thriving, actually. National statistics office INE on Friday published January’s data for the hotel sector in Spain and figures were all bright, a repeated event that has lately become a relief spot and an anchor for the economy of the country. Foreign tourist numbers were up by 4.6pc year on year to 2.78 million, average revenue per room rose by 0.1pc to €68.3 million, and occupation was 37.4pc…

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Markets 1st March 2012

European mid-caps attract some love: Royal London and Baring

LONDON | The discussion on whether to invest in European mega-caps or small-caps at this moment is alive and well. It might be a signal that the markets feel tired of the daily mess it is served by the euro group and prefer a the-show-must-go-on attitude. But funds and investment banks voice their trust in uncovering opportunities amid volatility. The euro zone’s surface seems little appealing, in principle. At Royal…

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Markets 29th February 2012

Transparency, British sustainable investment body asks on LTRO2-Day

LONDON | On the day the European Central Bank lent 800 euro zone banks €529.532 billion via its second 3-year long-term refinancing operation, hopes that credit to the private sector will increase were high. The central bank’s aim Wednesday was to restore capital flows in the region and clear the way for confidence to make a comeback to the wider economy. The UK Sustainable Investment and Finance Association UKSIF chose…

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In Europe 29th February 2012

No UK veto for a depressed European trend in house prices

LONDON | Here is something the British prime minister David Cameron cannot veto: the domino-effect in the house market. Residential property in the United Kingdom saw overall prices fall by 1pc in 2011. This relatively flat reading places the UK on a similar footing to several other European neighbours, as just core EMU Germany and France, and Switzerland and Norway posted rises of 5pc or more. The latest RICS European…

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Markets 27th February 2012

European equity markets look appetising, but crisis management must improve

LONDON | This year may prove an inflection point, with growth in equity markets in Europe and European smaller companies on attractive valuations leading the way. Fund Manager of TR European Growth Trust PLC Ollie Beckett believes expectations for positive returns from EU equity markets in 2012 have solid ground, notwithstanding the depressive tunnel the euro zone’s economy is currently passing through. But then again, Ollie Beckett is an associate director…

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World economy 27th February 2012

Billions of sterling pounds under the mattress

LONDON | The second estimate of GDP growth in the fourth quarter of 2011 confirmed the forecast of a contraction of 0.2pc, according to the latest UK Statistical Bulletin. However, the breakdown showed positive contributions from household expenditure (following four consecutive quarterly falls) and from net trade, with negative contributions from inventories and business investment. The British government said this presents a more positive picture of the expenditure side of the economy…

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In Europe 24th February 2012

Did UK banks forget how to do retail?

LONDON | The largest European retail bank, the Spanish Banco Santander, announced Friday the appointment of 18 new business managers for its UK branches. Santander UK has pledged to have 500 local business managers based in business communities across Britain by the end of next year. This might be the way to go if British high street entities are to befriend again their customers. Santander’s own research, according to the group, showed…

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Markets 23rd February 2012

LHC.Clearnet cuts down by 10pc the additional margin for Irish bonds

LONDON, MADRID | Ireland and Greece appear this week at the opposite ends of the rainbow. Santander credit research team painted Thursday an optimistic picture in its investors’ note based on the news that LHC.Clearnet has cut down by 10pc the additional margin it requires, which was 25pc, for positions in Irish government bonds cleared through its RepoClear service. A more relaxed market environment has also prompted Ireland to increase asset sales to €3…