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...Elsewhere the Belgian Surrealist suffered — a 1950 painting was one of the withdrawn lots (est $5mn-$7mn) and his early “Le Duo” (1928), from the same European collection, went unsold (est $1.5mn-$2.5mn)...
...Ettore Sottsass metal Treetops floor lamp, 1981, €2,590 Hermès perforated technical-cotton canvas Quadrige shirt, €1,530. Isabel Marant cotton Carello trousers, £325....
...He says his sales last year included chalets at €17.5m and €22m....
...Despite the Covid-19 pandemic, Sotheby’s has sold 17 works for more than $10m since June 1 (including fees)....
...The 2020 dot estimate dropped to 2.1 per cent from 2.6 per cent, while the long-run neutral fed funds rate was lowered to 2.5 per cent from 2.8 per cent....
...At a current level of 1.375, a test of the 2016 peak above 4 remains well out of bounds at this stage....
...For the full year the company expects comparable sales to rise between 1.5 to 2.5 per cent and a loss of between 17 to 36 cents a share, unchanged from its initial projections delivered in April....
...These bonds are more exposed to losses when banks need to be rescued, as seen when Spanish lender Banco Popular’s additional tier 1 and tier 2 bonds were wiped out last year....
...Yet budget-flight penetration is one of the lowest in south-east Asia, at 1.7 aircraft per million people operated by low cost carriers, compared with 2.1 in the Philippines and 2.6 in Indonesia, according...
...The average span of 2018’s crop of sovereign EM bonds has jumped to 17.2 years, up from just 10.7 years in 2017 and well above anything seen since at least 2002, when Fundamental Intelligence’s data start...
...The Church Commissioners’ annual report said the total return on assets in 2017 was 7.1 per cent, well below the 17.1 per cent of the year before....
...In the first three months of the year sales were up 6 per cent to 594,304, led by a 17.2 per cent increase in China....
...In contrast, an individual earning £60,000 a year and also paying 5 per cent of salary into a pension would see their bonus near halve from £2,010 to £1,290, as the rate of tax relief on their contributions...
...Barrick Gold shares were up 2.6 per cent to $17.59, Newmont Mining gained 3.3 per cent to $38.21 and Freeport McMoRan tacked on 1.47 per cent to $15.51....
...Markets at 0805 GMT Asian markets Nikkei 225 up +135.46 (+0.57%) at 23,850 Topix up +8.95 (+0.48%) at 1,889 Hang Seng up +112.75 (+0.36%) at 31,012 US markets S&P 500 up +4.56 (+0.17%) at 2,748 DJIA down...
...At the close in New York, the S&P 500 was up 0.1 per cent to 2,506.65, the Dow Jones Industrial Average climbed 0.2 per cent to 22,370.80 and the Nasdaq Composite moved up 0.1 per cent to 6,461.32....
...Despite this, Ms Mohammed believes Nigerian bank stocks are currently cheap, with tier one banks typically trading at 1.4 times their estimated full-year book value, versus 2.1 times for frontier market...
...The 15-year deal, priced at 7.375 per cent, includes exchanging $1.7bn of bonds due to mature in 2019 and 2020 for the longer dated paper....
...The 10-year yield climbed 0.012 percentage point to 2.279 per cent. The dollar edged higher 0.1 per cent....
...Spain’s unemployment crisis continued to ease in the second quarter of 2017, as the jobless rate fell to 17.2 per cent of the workforce — the lowest in more than eight years....
...The dollar index, a measure of the US currency against a basket of peers, was down 0.1 per cent at 97.375. The Japanese yen was flat at ¥111.89 to the dollar....
...European markets Eurofirst 300 up +3.24 (+0.21%) at 1,520 FTSE100 up +10.96 (+0.15%) at 7,276 CAC 40 up +9.03 (+0.17%) at 5,278 Dax up +12.06 (+0.10%) at 12,467 Currencies €/$ 1.09 (1.09) $/¥ 111.32 (...
...Buying guide ● Heathrow airport is a 40-minute drive west from Kensington High Street ● The borough of Kensington and Chelsea has one of the lowest council taxes in London in 2016-17 at £2,085 for a home...
...Intraday In the US, index futures suggest the S&P 500 will be barely changed at 2,375 when trading gets under way later in New York....
...Silver light bathes the fields as I approach Maranello, a town of 17,000 people....
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