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ETF Landscape: European STOXX 600 Sector ETF Net Flows, week ending 26-Mar-10
April 1, 2010--Highlights
The largest sector ETF inflows were in banks with USD158.9m and Telecommunications with USD11.7m.
Utilities experienced net outflows of USD43.5m.
Year-to-date, media has had the largest net inflows with USD290.8m net new assets, followed by banks with USD126.4m YTD.
Telecommunications sector ETFs have had the largest net outflows with USD283.7m YTD.
Stoxx 600 sector ETFs have seen USD243.7m net inflows YTD.
visit Blackrock for more information
Source:ETF Research and Implementation Strategy, Blackrock
Direxion Shares has cross-listed six triple-leveraged U.S. ETFs on NYSE Euronext’s Amsterdam Market
March 31, 2010-- Direxion Shares has cross-listed six triple-leveraged U.S. ETFs on NYSE Euronext’s Amsterdam market. The funds are:
ETF name:Direxion Daily Emerging Markets Bull 3X Shares
ETF ISIN:US25459W3007
ETF Symbol:EDC
ETF name:Direxion Daily Emerging Markets Bear 3X Shares
ETF ISIN:US25459W4823
ETF Symbol:EDZ
ETF name:Direxion Daily Financial Bull 3X Shares
ETF ISIN:US25459W5168
ETF Symbol:FAB
ETF name:Direxion Daily Financial Bear 3X Shares
ETF ISIN:US25459W4906
ETF Symbol:FAZ
ETF name:Direxion Daily Large Cap Bull 3X Shares
ETF ISIN:US25459W8626
ETF Symbol:BGU
ETF name:Direxion Daily Large Cap Bear 3X Shares
ETF ISIN:US25459W8543
ETF Symbol:BGZ
Source: NYSE Euronext
Flash estimate - March 2010- Euro area inflation estimated at 1.5%
March 31, 2010--Euro area1 annual inflation2 is expected to be 1.5% in March 2010 according to a flash estimate issued by Eurostat, the statistical office of the European Union.
It was 0.9% in February3.
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Source: Eurostat
Euro area unemployment rate at 10.0%
EU27 at 9.6%
March 31, 2010--The euro area1 (EA16) seasonally-adjusted2 unemployment rate3 was 10.0% in February 2010, compared with 9.9% in January4. It was 8.8% in February 2009. The EU271 unemployment rate was 9.6% in February 2010, compared with 9.5% in January4. It was 8.3% in February 2009. For the euro area this is the highest rate since August 1998 and for the EU27 since the start of the series in January 2000.
Eurostat estimates that 23.019 million men and women in the EU27, of whom 15.749 million were in the euro area, were unemployed in February 2010. Compared with January 2010, the number of persons unemployed increased by 131 000 in the EU27 and by 61 000 in the euro area. Compared with February 2009, unemployment went up by 3.139 million in the EU27 and by 1.844 million in the euro area.
These figures are published by Eurostat, the statistical office of the European Union.
Among the Member States, the lowest unemployment rates were recorded in the Netherlands (4.0%) and Austria (5.0%), and the highest rates in Latvia (21.7%) and Spain (19.0%).
Compared with a year ago, all Member States recorded an increase in their unemployment rate. The smallest increases were observed in Luxembourg (5.4% to 5.5%), Germany (7.3% to 7.5%), and Belgium (7.7% to 8.0%). The highest increases were registered in Latvia (13.2% to 21.7%), Estonia (7.6% to 15.5% between the fourth quarters of 2008 and 2009) and Lithuania (8.1% to 15.8% between the fourth quarters of 2008 and 2009).
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Source: Eurostat
Private equity regains appetite for deals
March 31, 2010--Private equity dealmaking rebounded in the first quarter to its highest level since Lehman Brothers collapsed 18 months ago, highlighting how UK buy-out bosses are expecting an economic recovery.
There were 36 private equity buy-outs worth a total of £5.14bn ($7.8bn) in the first three months of the year, the highest by number and value for seven quarters, according to research published on Thursday by KPMG, the accountants.
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Source: FT.com
EU urges Germany to stimulate domestic demand
March 31, 2010-The EU Commission on Wednesday called on Germany to stimulate demand in its domestic private sector, amid concern that Europe's biggest economy is too driven by its trade surpluses.
In a quarterly report on the eurozone, the EU's executive arm called more generally for reforms to even out the wide differences in competitiveness among member states.
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Source: EUBusiness
Greece will regain market confidence: ECB chief
March 31, 2010--Greece should gradually regain market confidence in its ability to repay its debt thanks to "convincing" austerity measures from Athens, the European Central Bank chief said Wednesday.
"I expect that observers, markets, participants would progressively recognise that the decisions that have been taken by the Greek government, which I have qualified ... as convincing (and) courageous, will operate," Jean-Claude Trichet told a press conference in Stockholm.
In an attempt to avert bankruptcy, the Greek government has outlined tax hikes and spending cuts designed to save the state 4.8 billion euros (6.5 billion dollars) and to restore its tattered credibility on financial markets.
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Source: EUBusiness
Regulator sets out strategic plan
March 30, 2010--Preparing for automatic enrolment, improving standards of governance and administration, and filling deficits as soon as reasonably affordable are amongst the top priorities set out in The Pensions Regulator’s fourth corporate plan.
The corporate and business plan 2010-13 sets out how the regulator will continue to protect members’ benefits in a climate of financial uncertainty that has impacted both pension schemes and sponsoring employers.
In anticipation of our new duties, which bring new and different audiences, the regulator has also overhauled the design and content of its website – tailored to be user-friendly for employers, individuals, pension professionals and trustees – and launched new information for employers to help them get ready for workplace pension reforms.
During the next three years the regulator will:
Continue to emphasise to trustees the importance of setting prudent funding targets and agreeing with employers that any resulting deficit is filled as quickly as possible. Support employers to get to grips with their new duties to auto-enrol staff into workplace pension schemes, and the regulator will design and build an effective compliance regime. Focus on standards of delivery of DC schemes - looking to trustees and providers to ensure they are effectively run and suited to members’ needs.
view the
The corporate and business plan 2010-13
Source: The Pensions Regulator
Majority Of Financial Services Practitioners Believe Hung Parliament Will Damage UK Economy
March 30, 2010--Four out of five financial services practitioners believe the UK economy will suffer if the general election results in a hung Parliament, a Chartered Institute of Securities & Investment (CISI) survey shows.
Of those taking part, 21% suggested that having no single political party with an overall majority would plunge the country into a prolonged recession.
A further 59% thought that the impact would be to delay economic recovery.
However, 12% considered that there would be no effect and 8% said a hung Parliament would provide a boost to the economy.
Visit cisi.org for more info
Source: Fresh Business Thinking Online
FSA consults on enhanced client asset protection
March 30, 2010--The Financial Services Authority (FSA) has today published a consultation on changes to its client asset rules. The aim of the consultation is to ensure that clients have confidence their money and assets are safe and will be returned within a reasonable timeframe in the event that a firm becomes insolvent
The failure of Lehman Brothers International (Europe) (LBIE) highlighted a number of areas where the client assets sourcebook (CASS) could be strengthened. Keen to learn lessons, the FSA has been reviewing this area on a number of fronts including engagement with a number of working groups and extensive pre-consultation with firms. The FSA also input into the Treasury’s consultations which considered effective resolution arrangements for investment banks.
The consultation focuses on the following:
Re-hypothecation of client assets - Creating a requirement that all prime brokerage agreements will contain a disclosure annex which will highlight relevant definitions and the contractual limit on re-hypothecation. These are provisions in the contract which apply when a firm can ‘use’ its clients assets in specified circumstances;
Increased reporting to clients – The FSA will require daily reporting on client money and assets holdings to all prime brokerage clients. This will mean that clients will know exactly what is happening to their assets, what transactions have been completed and, if relevant, which and how many of their assets have been re-hypothecated;
view the Consultation Paper
Source: FSA.uk.gov
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