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ECB-Monetary policy decisions
April 30, 2020--At today's meeting the Governing Council of the ECB took the following monetary policy decisions:
(1) The conditions on the targeted longer-term refinancing operations (TLTRO III) have been further eased. Specifically, the Governing Council decided to reduce the interest rate on TLTRO III operations during the period from June 2020 to June 2021 to 50 basis points below the average interest rate on the Eurosystem's main refinancing operations prevailing over the same period.
Moreover, for counterparties whose eligible net lending reaches the lending performance threshold, the interest rate over the period from June 2020 to June 2021 will now be 50 basis points below the average deposit facility rate prevailing over the same period.
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Source: ECB
ECB in fresh push to lend to banks at ultra-low rates
April 30, 2020--The European Central Bank has expanded its loans to banks at ultra-low rates after data published earlier on Thursday showed the eurozone's economy shrank by the fastest rate on record in the first quarter.
In a move to bolster the European banking system's access to funds and to avoid a drying up of credit, the ECB said it would lend money to banks at rates as low as minus 1 per cent through a planned programme and also launched a separate round of fresh lending.
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Source: dnyuz.com
SocGen Equities Trading Wiped Out in Perfect Storm for CEO Oudea
April 30, 2020--Equities unit slumps as dividend suspensions hit derivatives
Bad loan provision could reach 5 billion euros in worst case.
Societe Generale SA slumped to a surprise first-quarter loss after coronavirus-related market volatility wiped out stock trading revenue and bad loan provisions surged.
Revenue from equities trading, a traditional stronghold of the firm, slumped 99%, more than offsetting strength in the smaller fixed-income unit, the French lender said Thursday.
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Source: bloomberg.com
S&P Dow Jones Indices Europe Dashboard
April 30, 2020--April offered a welcome rally for global equities as the novel shock of pandemic became cruelly familiar, and markets adjusted to the new normal.
Picking up steam in the second half of the month, the S&P Europe 350(R) posted its best monthly return since January 2019.
Volatility remained elevated, but moved down significantly from March's near-record levels of uncertainty.
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Source: mondovisione.com
ECB-Euro area economic and financial developments by institutional sector: fourth quarter of 2019
April 29, 2020--Euro area net saving increased to €853 billion in the four quarters to the fourth quarter of 2019, compared with €826 billion in the four quarters to the previous quarter.
Euro area net non-financial investment decreased to €563 billion (from €586 billion previously), due to decreased investment by non-financial corporations. Euro area net lending to the rest of the world increased to €298 billion (from €249 billion previously).
The household debt-to-income ratio[1] stood broadly unchanged, at 93.7% in the fourth quarter of 2019, as compared with the fourth quarter of 2018.
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Source: ECB
New iShares ETF on Xetra: inflation protected government bonds with currency hedging
April 29, 2020--A new iShares ETF offers exposure to inflation-linked government bonds from developed countries.
Since Wednesday, a new exchange traded fund of iShares has been tradable on Xetra and Börse Frankfurt.
The iShares Global Inflation Linked Govt Bond UCITS ETF EUR Hedged (Acc) allows investors to participate in the performance of inflation protected government bonds from industrialised countries worldwide. To be included in the index, the bonds must have an investment grade rating and a minimum residual maturity of one year. Investors are hedged against currency risks against the Euro.
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Source: Deutsche Börse
ECB-Monetary developments in the euro area: March 2020
April 29, 2020--Annual growth rate of broad monetary aggregate M3 increased to 7.5% in March 2020 from 5.5% in February
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 10.3% in March from 8.1% in February
Annual growth rate of adjusted loans to households decreased to 3.4% in March from 3.7% in February
Annual growth rate of adjusted loans to non-financial corporations increased to 5.4% in March from 3.0% in February
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 increased to 7.5% in March 2020 from 5.5% in February, averaging 6.0% in the three months up to March. The components of M3 showed the following developments.
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Source: ECB
ESG Briefing: AllianzGI sees 560% growth in sustainable assets
April 29, 2020--Allianz Global Investors increased sustainable investments to €165bn by the end of 2019-amounting to growth of 560% in three years. The firm has introduced 28 sustainability or impact strategies, through a combination of new products and updates to existing strategies.
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Source: responsible-investor.com
Selection indices: Unscheduled changes in SDAX and TecDAX
April 28, 2020--On Monday, Qontigo's global index provider STOXX Ltd. announced unscheduled changes to the SDAX index and TecDAX index.
Due to the takeover of RIB Software SE (DE000A0Z2XN6) by Schneider Electric SE (FR0000121972) the free float of RIB Software SE falls below 10 percent.
According to the Guide to the DAX Equity Indices, section 5.1.5. Adjustments in the Case of Mergers and Acquisitions, RIB Software SE shares will be deleted from SDAX and TecDAX. They will be replaced by Stratec SE (DE000STRA555) in the SDAX index and by Draegerwerk AG & Co KGaA (DE0005550636) in the TecDAX index.
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Source: boerse-frankfurt.de
BlackRock strengthens ESG push with new ETF launch
April 27, 2020--Asset manager reaches further into sustainability-focused passive product with series of minimum volatility strategies.
BlackRock has expanded its ESG offering with three new ETFs which will provide exposure to developed world companies, European companies and US companies.
The new funds are as follows:
iShares EDGE MSCI World Minimum Volatility ESG UCITS ETF
iShares EDGE MSCI Europe Minimum Volatility ESG UCITS ETF
iShares EDGE MSCI USA Minimum Volatility ESG UCITS ETF
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Source: citywireselector.com
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