NICE, France (AFP): An armed man held up a jewellery exhibition in the French Riviera resort of Cannes on Sunday, making away with jewels estimated to be worth about 40 million euros ($53 million), according to investigators. Authorities said the hold-up took place in broad daylight at the Carlton Hotel on the promenade in Cannes, famous for its annual film festival that attracts a glittering array of celebrities.

The lone gunman managed to evade security and escape with a briefcase containing the valuable jewellery.