Europe Cutting Back On Green-energy “investments” While Coal Makes A Comeback

That contrasts with public exchanges such as the London Stock Exchange where large buyers and sellers are required to identify themselves and stock prices reflect trading activity in real time, throughout the day. Some investors are shifting business away from public exchanges because they feel these offer little chance to negotiate cheaper bulk buying or to sell without triggering sell-offs that can cut the price they fetch for their assets. “If you want to buy one suit or one car, you see one price. If you want to buy 100 suits or 100 cars, you approach the seller to discuss another price. Who benefits from that? The end investors,” Vincent Dessard, regulatory policy advisor at the European Fund and Asset Management Association trade body, said. Thomson Reuters and Markit data suggests the volume of dark trading rose for the fifth consecutive month in September, accounting for 5.84 percent of all European share trade, more than double the 2.8 percent volume recorded in September 2011. The rising popularity of off-exchange activity has sparked fresh debate over proposed caps on dark pool trading in the next revision of the European Union’s Markets in Financial Instruments Directive (MiFID), under discussion in Brussels. Policymakers want to cap daily dark trading at 4 percent of total trading in each stock in the EU, and total aggregated dark pool transactions at 8 percent of all European trade. They worry that transactions capable of destabilising markets could go undetected unless limits are introduced. They also fear users are draining liquidity from public exchanges, making it harder for other investors to value stocks accurately. Anyone can use these pools if they have membership and fees are typically lower than trading stocks using traditional stockbrokers. The biggest users of these networks are large fund managers and banks who regularly trade large volumes of stocks.

Billionaire Slim’s Europe Plans on Hold as KPN Talks End

Completely unsurprisingly, the falloff in government investment (i.e., subsidization) has been mirrored by a falloff in private investment, via Bloomberg : Clean-energy investment fell 14 percent in the third quarter from the prior three months as Europe curbed subsidies and cheaper U.S. natural gas lured investment. The $45.9 billion spent makes it almost certain that annual investment in renewables and energy-smart technologies will fall for the second consecutive year from $281 billion in 2012, Bloomberg New Energy Finance said in a statement. Investment in the quarter was 20 percent lower than the same period last year as spending in China, the U.S. and Europe fell. The U.S. saw the largest decline, sliding 41 percent to $5.5 billion, according to the London-based research company. Europes clean-energy industry is retrenching after subsidies were reduced in nations from Germany to Spain, which helped propel record growth in previous years. Cheap gas in the U.S. driven by a shale-drilling boom and a reduction in Chinas spending on wind power wind power also contributed to the overall decline, the London-based consultant said One of the most facepalm-worthy parts of all of this is that supporters of the Obama administrations regulatory war-on-coal largely and blithely rely on the argument that because the coal-substitute of natural gas has been doing so well, coal is naturally entering its sunset years anyway and will shortly fall prey to the economical powers of creative destruction but strangely, they often forget to mention that coal could easily regain market share in the event that natural gas prices begin to rise for whatever reason The Obama administration is effectively barring that from happening on the domestic scene, while foreign demand for coal is growing; you need look no farther than Europe as a current Exhibit A for that eventuality. The editors of RealClearEnergy , therefore, would rather the Continent spare us the lectures, emphasis mine: What happens when you dont frack and you decide to shut down nuclear?

Europe’s Car Sales Rally, Thanks To Discounts, Dealer Action

averages, which moved higher after Reuters reported that Senate negotiators were “very close” to announcing a deal . The Senate is likely to move “quickly” to pass the fiscal debt deal currently being negotiated, according to a Senate aide. Senate leaders are in talks with House leaders to find a way to win fast passage of the deal in both chambers. The New York Times reported that the deal is likely to be announced by midday, citing Senate aides. After the closing bell on Tuesday, Fitch credit rating agency placed the United States’ triple-A rating on “rating watch negative”, citing the debt ceiling gridlock. Italy announces budget In European news, the U.K’s jobless rate a key factor influencing the Bank of England’s interest rate policy held steady in the three months to August, but the number of people claiming unemployment benefits fell much more than expected. (Read More: UK unemployment steady but claimant count plummets ) Inflationary pressures in the euro zone continued to ease, data showed on Wednesday. Consumer price inflation for the 17 countries that use the single currency fell to 1.1 percent (year-on-year) in September, its lowest since February 2010, according to Eurostat. Car registrations in Europe posted a 5.4 percent (year-on-year) rise in September, highlighting a recovery in the continent, with impressive demand growth from southern European nations like Greece and Spain. (Read More: Southern Europe helps car registrations post recovery ) Italy’s government unveiled its 2014 budget law on Tuesday , in which it lowered the tax rate on labor. After withdrawing planned cuts to the health care budget, Prime Minister Enrico Letta hailed it the country’s “first budget without tax hikes or social cuts in year”. LVMH falls In stocks news, shares of France-based food producer Danone closed down 2.28 percent after announcing that an Asian recall of baby formula had made a worse-than-expected dent in revenues in its third quarter. Luxury retailer LVMH posted a surprise slowdown in sales growth in its third quarter; shares closed down 4.25 percent, knocking shares in the sector.

Dark pool stock trading picks up as Europe debates new curbs

Car sales may have stopped falling at close to 20 year lows, and forecasts for next year are positive. But much of this improvement has been down to huge spending by the manufacturers on discounts and price cuts, while dealers are being persuaded to buy the excess cars on their lots which count as new car sales. These will eventually be sold on to the public at well below sticker price. The Brussels-based European Car Manufacturers Association, known by its acronym in French, ACEA, ( www.acea.be ) announced today that Western European car sales were up 5.4 per cent in September compared with the same month last year at just over 1.1 million, bringing the total for the year so far to 8.8 million. Thats a fall of 4.0 per cent on the first nine months of last year. Peter Fuss, partner at consultants Ernst & Young Ernst & Young s Global Automotive Center in Frankfurt, Germany, said the recovery in car sales was down to the improvement in Europes economic outlook, with the Euro currency zone pulling out of recession during the second half of 2013. But with factory use down to less than 65 per cent by manufacturers, according to Fuss, this underlines the chronic overcapacity in Europe, which remains unresolved because of pressure from unions and governments to resist rationalisation. The European industry is looking for a bailout along the lines of the U.S. intervention on behalf of bankrupt GM and Chrysler, to allow it to finally shut-down uneconomic factories. But given the financial crisis in the euro zone, this is simply unaffordable. Ernst & Young expects an overall decline of three per cent in Western Europe for the whole year, and only modest growth next year. This growth will continue to be artificial one that is driven by discounts and self-registrations.

Europe stocks close higher on hopes of US deal

Peter Schiefer, a spokesman for Vienna-based Telekom Austria, didnt immediately respond to phone and e-mail messages after normal business hours. Slim directed America Movils highest-ranking executives to negotiate with KPN, including Chief Executive Officer Daniel Hajj, Chief Financial Officer Carlos Garcia-Moreno and Elias, who is director of strategic alliances for the companys landline unit. Slim, 73, didnt personally take part in the talks, said Elias, who like Hajj is a son-in-law of the billionaire. Telefonica Deal The companies failed to reach an agreement even after America Movil helped KPN negotiate a better price from Telefonica SA (TEF) for its German unit, E-Plus. After discussions with Slims company, Madrid-based Telefonica agreed in August to raise its bid for the KPN unit to 8.55 billion euros from 8.1 billion euros. A Telefonica press official declined to comment yesterday. The transaction is awaiting regulatory approval. KPN had argued that a tax offset from the sale of E-Plus makes the company more valuable, people with knowledge of the discussions said earlier, asking not to be identified because the talks were private. KPN was seeking as much as 3 euros a share from America Movil, said Robin Bienenstock , an analyst at Sanford C. Bernstein & Co. in London .