The Best Ways To Invest In Europe’s Recovery

Libya militias add to perils on migrant path to Europe

This is political posturing rather than any interest in achieving actual results, Parry said. Were already getting hints of the Republican party backing down. National benchmark indexes fell in 11 of the 18 western European markets this week. Germany s DAX retreated 0.4 percent, while the U.K.s FTSE 100 (UKX) lost 0.9 percent. France s CAC 40 decreased 0.5 percent. Italy Vote Italy s FTSE MIB surged 3.7 percent, the most since July. Letta won a confidence vote on Oct. 2 with support from former premier Silvio Berlusconi , who reversed his position after initially trying to bring down the five-month-old government by withdrawing his ministers from the coalition. Popolare di Milano surged 16 percent and Mediobanca gained 12 percent in Milan trading. UniCredit SpA, Italys largest lender, advanced 9.6 percent. Unilever dropped 3.7 percent in London trading after saying Sept. 30 that underlying revenue for the third quarter rose 3 percent to 3.5 percent. The worlds second-biggest consumer-goods maker reported 5 percent growth in the first half and second quarter. A gauge of food and beverage stocks was the second-worst performer among 19 industry groups in the Stoxx 600.

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Molinari and Manassero appeared to have another Continental Europe victory in their sights, as they held a 2-up lead with five holes to play, but Lynn and Jamieson rallied, tallying birdies at the 14th and 17th to square the match entering the last, where Jamieson drained a 6-foot birdie putt for the comeback win. “There is just a fraction of disappointment. We let a point go with the Italians; they had the match under control until the very end,” said Continental Europe captain Jose Maria Olazabal, who kept his pairing the same over the first two days. Jamie Donaldson then posted four birdies and an eagle in GB&I’s third win of the day, as he and teammate Marc Warren ousted Thomas Bjorn and Miguel Angel Jimenez, 4 & 2. “The golf that was played was beautiful; Jamie Donaldson was 9-under on his own,” said GB&I captain Sam Torrance. Aside from Colsaerts and Fernandez-Castano, the only other duo to notch a win for Continental Europe was Joost Luiten and Gregory Bourdy, who outlasted Tommy Fleetwood and Chris Wood, 1-up. Luiten and Bourdy nearly squandered a 3-up lead with four holes to play, but they held on for the win when both Fleetwood and Wood missed birdie putts inside 12 feet at the last. Colsaerts and Fernandez-Castano, who have yet to trail at this event, birdied four of their first six holes Friday, with the latter running home a 10-footer at the sixth to go 4-up. Lawrie and Gallacher briefly reduced their deficit to three with a birdie at the par-5 seventh, but they would get no closer, as Colsaerts and Fernandez- Castano birdied three of their next four holes, capped by Colsaerts’ 15-footer at the 11th, to take a commanding 6-up lead. The Continental Europe standouts then parred two straight to wrap up the convincing victory. “Overall 3 – 2 is not that bad — it’s pretty much what we’ve said all along, these guys play great golf, and you have to be on your toes,” continued Olazabal. NOTES: Bjorn and Jimenez lost both of their fourball matches over the first two days … Colsaerts and Fernandez-Castano’s 6 & 5 margin of victory tied the previous mark set by Jimenez and Olazabal, who posted the number on Ian Woosnam and Colin Montgomerie in 2000, and Anthony Wall and Chris Wood, who won by the same margin against Henrik Stenson and Robert Karlsson in 2009 … Hanson withdrew from the Seve Trophy on Monday due to a lingering back injury.

Continental Europe stays on top at Seve Trophy

But they said it was unlikely to discourage future attempts. “Despite the difficulties, the Africans here are not giving up on their dreams of going to Europe,” said Albert Obmila, a Rwandan migrant. “Life in Libya has become hell for Africans, who are at the mercy of the militias.” Under Kadhafi’s regime, migrants risked arrest and deportation, but the myriad dangers posed by the militias are far worse, said George Ikbo, a Nigerian migrant. He has been stuck in Libya for five years, in part because of “scams by Libyan smugglers in collusion with the militias,” he said. “Me too,” Cameroonian migrant Patrick Adamo chimed in. “I worked in all kinds of unimaginable trades and endured every hardship to save up 1,500 dinars (around $1,100),” the price of sea passage. “There were more than 20 of us Africans who had paid the price,” he said. But on the appointed day, “instead of putting us on the boat, they sent armed men from a militia to arrest us and detain us in Tripoli,” where the migrants were held for four months. “Since then I take every precaution to avoid falling into this trap while trying to make my way to Europe,” Adamo said. Several migrants spoke of similar scams, saying the heavily armed militias charge $1,000 to $2,000 per person for the crossing before having the migrants arrested at the last minute. An Eritrean migrant interviewed by AFP, who asked not to be named, said he had been ripped off on three occasions. Once detained, some migrants are handed over to immigration authorities, while others are jailed by the militias themselves. Those unable to pay for their own release risk being loaded onto trucks and left at the desert borders of Chad and Niger. In June, Amnesty International estimated that some 25,000 migrants had been deported since May 2012. Others remain in detention under “deplorable” conditions, according to the Amnesty report.

Holdings include Swiss bank UBS ( UBS ), German automaker Volkswagen ( VLKAY ) and French food and consumer products giant Danone ( DANOY ). The Dodge & Cox International Stock Fund ( DODFX ), one of the top 25 mutual funds by total assets, also has a 30% allocation in Europe. It owns stakes in German conglomerate Bayer ( BAYRY ) and the U.K. bank HSBC ( HBC ). Then there are funds with an even bigger weighting in Europe, like the Vanguard International Growth Fund ( VWIGX ). About 55% of this fund is invested in European stocks, such as French cosmetics leader L’Oreal ( LRLCF ) and German athletic brand Adidas ( ADDYY ). Investing via ETFs: If you want to buy a fund that focuses more directly on Europe — and pay lower fees in the process — you have many more options in exchange traded funds. The largest dedicated Europe ETF by assets is the Vanguard FTSE Europe ETF ( VGK ), with about $13 billion under management. Top holdings include U.K.-based Royal Dutch Shell ( RDSA ), Swiss consumer products maker Nestle ( NSRGY ) and HSBC. Best of all, the costs are super low. The VGK fund charges just 0.12% in expenses, which works out to a measly $12 a year on every $10,000 you invest. Google+ Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR.