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In Europe 27th September 2013

Dean Tenerelli, the Man Who is Betting on Spain

WASHINGTON | By Pablo Pardo | In 10 months, the T. Rowe Price European Stock has invested 15% of its $944 million (700 million euros) in Spanish assets. Possibly because, as its manager, Dean Penerelli, explained in Barron’s last week’s issue, he knows Spain. Penerelli is not an idealist, neither a gambler. He speaks Spanish, received an MBA at Barcelona’s ESADE, and worked at Spanish bank Banesto (now part of Banco Santander) in the early Nineties. Another important factor may be that, according to Barron’s, Penerelli “likes to buy on the cheap”.

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In Europe 27th September 2013

Italy: Confidence improves, but challenges remain

LONDON | Barclays Reasearch | The market’s confidence has increased, but we still see important challenges that weigh on Italy’s outlook. Political instability is the main risk that could hamper Italy’s ability to tackle these issues.

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In Europe 25th September 2013

Eurozone Shakes Off Recession – Or Is That Wishful Thinking?

THE CORNER TEAM | Remember when we told you the euro-zone was on the road to recovery after a particularly encouraging PMI was released? Now a bunch of analysts are focusing on the end of recession. The ECB keeping on with its low interest rate policy, as well as the U.S. Fed non-tapering-yet mood should help too, they say. However, a minority of market watchers point out this relative financial stability may not last long.

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In Europe 24th September 2013

Draghi, Open to More Long-Term Loans

The Corner Team | ECB’s President Mario Draghi opened the door to providing more money to eurozone banks in order to keep market interest rates low and ensure the recovery, which finally seems to be picking up. His comments have been like fresh air to Europe’s banks, which face another stress test in the coming months.

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In Europe 24th September 2013

Cameron Chooses Santander’s Ana Botín to Stir Up the City

MADRID | By Tania Suárez | Ana Botín will now be part of a first level team in David Cameron’s government, which will stand up for Brand London as international financial centre. The Prime Minister has chosen the Spanish businesswoman after her harsh speech on “the culture of pessimism” in Britain.

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In Europe 24th September 2013

Don’t hurry; the banking union won’t start tomorrow

MADRID | By JP Marin Arrese | Angela Merkel is now more powerful as chancellor than before, and the Euro-sceptics have lost their influence over the future of Germany’s and Europe’s issues. However, despite all the good intentions, it is more than likely that Banking Union and the European integration will be relegated to a mere supervisory exercise.

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In Europe 23rd September 2013

Analysis: Angela Merkel’s Challenges

MADRID | By Fernando G. Urbaneja | Chancellor Angela Merkel has skilfully governed both Germany and Europe with ambiguity between her pragmatic proposals at home, and her tough declarations outside. Her victory opens a new stage for the German government and for Europe. She has become stronger, although she still needs to seduce.

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In Europe 22nd September 2013

German Elections 2013: Invincible Merkel

FRANKFURT | By Lidia Conde | We saw it coming: today nobody could beat Merkel. No other candidate had won all the opinion polls. The victory of the CDU/CSU with a 42% of votes (according to polls on Sunday), is mainly due to the Chancellor’s charisma. In these times of economic uncertainty, Germans have shown that they do not want experiments nor surprises. She has won the elections saying that Germany is doing well and this Government is the best. No matter whether this is truth or not- the message has passed.

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In Europe 21st September 2013

German Elections: Forgetting about Europe

MUNICH | By at Süddeutsche Zeitung via Presseurop | The German elections are triggering a fascinating and unprecedented level of anticipation abroad. For Germany’s parties and voters, their country’s role and influence in Europe is so apparent that the issue is not a key battleground in the campaign.

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In Europe 20th September 2013

Spain Trade Deficit Pushed Down by 67% in July By Record Exports

MADRID | The Corner Team | Exports are pumping fresh air into the Spanish economy. The recession-hit country’s trade deficit plunged by a further 53.5 per cent in July, officials said on Friday. The government is banking on foreign trade to be an engine of the recovery.