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Euro area monthly balance of payments: December 2020
February 19, 2021--Current account recorded €37 billion surplus in December 2020, up from €25 billion in previous month
Current account surplus amounted to €248 billion (2.2% of euro area GDP) in 2020, down from €281 billion (2.3%) in 2019
In financial account, euro area residents’ net acquisitions of foreign portfolio investment securities totalled €644 billion in 2020 and non-residents' net acquisitions of euro area portfolio investment securities totalled €164 billion
The current account of the euro area recorded a surplus of €37 billion in December 2020, increasing by €12 billion from the previous month
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Source: ECB
New First Trust ETF on Xetra: renewable energies
February 19, 2021--First Trust provides exposure to companies operating in the renewable energy sector.
A new exchange-traded fund issued by First Trust has been tradable on Xetra and Börse Frankfurt since Friday.
With the First Trust Nasdaq Clean Edge Green Energy UCITS ETF-Acc, investors invest in companies that are related to the development, production, distribution or installation of renewable energies and thus provide technologies for a low-carbon economy.
To be included in the index, companies must generate at least 50 per cent of their turnover from renewable energies.
Companies are considered that, for example, manufacture membranes and filters for the reduction of pollutants, design intelligent energy management and storage systems for batteries and hydrogen drives, or produce solar, hydro or wind energy
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Source: boerse-frankfurt.de
New WisdomTree ETF on Xetra: EU Covid-19 bonds
February 18, 2021--A new exchange-traded fund issued by WisdomTree has been tradable on Xetra and Börse Frankfurt since Thursday.
The WisdomTree European Union Bond UCITS ETF-EURAcc enables investors for the first time to participate in euro-denominated, investment-grade fixed-income bonds of the European Union issued to combat the consequences of the Covid-19 pandemic.
In this way, investors get access to bonds of the development programme "Next Generation EU" and "SURE" aid programme. Under the "SURE" short-time work programme, the EU has issued social bonds to help member states to safeguard jobs. A good third of the "Next Generation EU" programme is earmarked for sustainable climate projects. Only debt instruments with a remaining term of at least one year and a minimum outstanding volume of one billion euros are included.
Bonds of the European Financial Stabilisation Mechanism (EFSM), the European Stability Mechanism (ESM) and the European Investment Bank (EIB) are not included.
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Source: Deutsche Börse
Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 20-21 January 2021
February 18, 2021--1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel reviewed the financial market developments since the Governing Council's previous monetary policy meeting on 9-10 December 2020.
New global coronavirus (COVID-19) infections had reached a record high in the previous week and the risk of more protracted containment measures was rising amid the emergence of more infectious mutations of the virus and a pace of vaccination that was proceeding more slowly than expected. Sentiment in financial markets, however, had improved noticeably at the start of the year, mainly reflecting expectations of additional fiscal stimulus in the United States, sparking reflation trades.
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Source: ECB
Official Statistics: Forecasts for the UK economy: February 2021
February 17, 2021--A comparison of independent forecasts for the UK economy in February 2021.
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Source: gov.uk
ESMA-Episodes of very high volatility in trading of certain stocks
February 17, 2021--STATEMENT
Episodes of very high volatility in trading of certain stocks
Recent episodes have shown very high volatility in certain US stocks, linked to a significant accumulation of net short positionsand concerted action by some retail investors, based on informationshared on social media.Although market rules and structures are different in the EU, it cannot be ruled out that similar circumstances may occurin the EU as well.
An increased participation of retail investors in stock markets is welcome for the development of the Capital Markets Union. Nonetheless, ESMA urges retail investors to be careful when taking investment decisions based exclusively on information from social media and other unregulated online platforms, if they cannot verify the reliability and quality of that information.
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Source: ESMA
Regulating big tech: the Digital Markets Act
February 16, 2021--The European Union's proposed Digital Markets Act will attempt to control online gatekeepers by subjecting them to a wider range of upfront constraints.
Digital market forces drive huge efficiency gains. But they also create winner-take-all dynamics that can, left unchecked, lead to monopolistic markets and hurt consumers in the long-run. Slow-moving competition policy tools are ill-equipped to fully address these digital concerns.
(1) The DMA was proposed alongside the Digital Services Act (DSA) which targets illegal goods, services and content, abuse of platforms, advertising and algorithmic transparency. The DSA concerns most online businesses.
In December 2020 the European Commission proposed the Digital Markets Act (DMA) to regulate the gatekeepers of the digital world by imposing direct restrictions on the behaviour of tech giants (1). While the Commission has not named any companies, it has proposed criteria that are sure to catch Google, Facebook, Amazon, Apple, Microsoft and SAP, among others.
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Source: bruegel.org
ETFGI reports assets invested in ETFs and ETPs listed in Europe reach a record 1.30 trillion US Dollars at the end of January 2021
February 15, 2021--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reports assets invested in ETFs and ETPs listed in Europe reach a record US$1.30 trillion at the end of January. A strong start to the year with record net inflows of US$20.51 billion during January, which is significantly more than the net inflows of US$15.16 billion in January 2020.
Assets invested in the European ETFs/ETPs industry have increased by 1.1%, from US$1.28 trillion at the end of December, to US$1.30 trillion, according to ETFGI's January 2021 European ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets reach a new record $1.30 trillion invested in ETFs and ETPs listed in Europe at the end of January.
Net inflows set a new record of $20.51 billion in January.
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Source: ETFGI
UK economy suffers biggest drop since 1709
February 12, 2021--The British economy suffered its biggest decline in more than 300 years in 2020 as the coronavirus pandemic closed shops and restaurants, devastated the travel industry and curtailed manufacturing.
The economy shrank 9.9% last year, more than twice the figure for 2009 at the height of the global financial crisis, the Office for National Statistics said Friday.
The drop is the largest since 1709, when a cold spell known as the Great Frost devastated what was then a largely agricultural economy.
The data comes as Britain's economy remains shackled by restrictions designed to combat COVID-19. A rebound in growth during the fourth quarter has been stifled by England’s third lockdown, which has closed schools, restaurants and non-essential shops since mid-December. Tough restrictions also remain in place in Northern Ireland, Scotland and Wales.
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Source: apnews.com
Amsterdam displaces London as Europe's top stocks centre after Brexit
February 11, 2021--Amsterdam has displaced London as Europe's biggest share trading centre after Britain left the European Union's single market, and picked up a chunk of UK derivatives business along the way, according to data published on Thursday.
Stock exchanges in the Dutch capital traded 9.2 billion euros ($11.15 billion) a day in January, compared to London's 8.6 billion, according to the Cboe exchange, which operates in both cities.
This compares with an average of 17.5 billion euros traded daily in London during 2020, when Frankfurt was second with 5.9 billion and Amsterdam sixth at 2.6 billion, Cboe said.
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Source: reuters.com
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