Daily Briefing: UK house-hunting rebounds, ECB to 'shrug off' German court ruling, Greece ready for tourists

27 May: Your round-up of the global issues leading today's agenda

27 May: Your round-up of the global issues leading today's agenda

  • England’s house-hunters have raced back after the property industry was released from lockdown. But few of them want to live in London, Bloomberg says. In what’s likely to be a short-lived rebound, interest in buying homes over the past two weeks has surged 20% compared with the start of March, according to a report from property portal Zoopla Ltd. released Wednesday. For homes in the capital, however, demand was still 14% below the pre-pandemic average seen throughout February.
  • The European Central Bank intends to shrug off the German constitutional court’s ruling against its flagship bond-buying policy and expects Germany’s central bank to resolve the legal impasse, according to one of the eurozone institution’s top executives. Isabel Schnabel, the German economist who joined the ECB board in January, told the Financial Times in an interview: “We are not adjusting our monetary policy in any way in response to this ruling.” She added that the court ruling “does not directly affect us” and instead was likely to be dealt with by the Bundesbank.
  • Greece is ready to welcome tourists as refugees stay locked down in Lesbos, The Guardian says. It adds that,in Moria, Europe’s largest migrant camp, tensions are rising as life is more restricted and the threat of Covid-19 is ever present.
  • Within about half an hour of European markets closing on Tuesday, more than $4 billion worth of stock offerings were announced, making for one of the busiest nights for bankers this year. Accounting for over half the deal volume is a stake disposal of 2.7 billion Swiss francs ($2.8 billion) worth of shares in construction group Sika AG by Compagnie de Saint-Gobain, set to be the biggest equity offering so far this year, according to data compiled by Bloomberg.




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