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ECB-Monetary developments in the euro area: September 2019
October 28, 2019-Annual growth rate of broad monetary aggregate M3 decreased to 5.5% in September 2019 from 5.8% in August (revised from 5.7%)
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, decreased to 7.9% in September from 8.5% in August
Annual growth rate of adjusted loans to households stood at 3.4% in September, unchanged from previous month
Annual growth rate of adjusted loans to non-financial corporations decreased to 3.7% in September from 4.3% in August.
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Source: ECB
Brexit update: EU agrees to extension as UK election looms
October 28, 2019--The European Union agreed to grant the UK a three-month Brexit delay to January 31, removing the risk of a damaging no-deal split on Thursday as the British government tries to end the impasse in Parliament.
Prime Minister Boris Johnson is pushing a vote in the House of Commons on Monday to trigger an early general election, saying it’s the only way to resolve the deadlock that has stopped the UK ratifying the divorce deal with Brussels and prolonged the uncertainty for businesses as Brexit drags on.
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Source: FIN24
European Commission-Juncker Plan has made major impact on EU jobs and growth
October 22, 2019--The Investment Plan for Europe, the Juncker Plan, has played a key role in boosting jobs and growth in the EU. Investments by the European Investment Bank (EIB) Group backed by the Juncker Plan's European Fund for Strategic Investments (EFSI) have increased EU gross domestic product (GDP) by 0.9% and added 1.1 million jobs compared to the baseline scenario.
By 2022, the Juncker Plan will have increased EU GDP by 1.8% and added 1.7 million jobs. These are the latest calculations by the Joint Research Centre (JRC) and the Economics Department of the EIB Group, based on financing agreements approved until the end of June 2019.
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Source: European Commission
ECB-Euro area monthly balance of payments: August 2019
October 18, 2019--In August 2019 the current account of the euro area recorded a surplus of €27 billion, compared with a surplus of €22 billion in July 2019.
In the 12-month period to August 2019, the current account recorded a surplus of €312 billion (2.7% of euro area GDP), compared with a surplus of €398 billion (3.5% of euro area GDP) in the 12 months to August 2018.
In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities totalling €153 billion in the 12-month period to August 2019 (down from €411 billion in the 12 months to August 2018).
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Source: ECB
Official Statistics: Forecast for the UK economy: October 2019
October 16, 2019--A comparison of independent forecasts for the UK economy in October 2019.
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Source: HM Treasury
Monday Morning Memo: Review of the European ETF Market, September 2019
October 14, 2019--After outflows in August, the promoters of ETFs in Europe enjoyed above average inflows in September. These led, in combination with the positive performance of the underlying markets, to an increase in assets under management in the European ETF industry from €757.0 bn as of August 31, 2019, to €795.5 bn at the end of September.
The increase of €38.5 bn for September was driven by estimated net inflows (+€19.5 bn), while the performance of the underlying markets contributed €19.1 bn to the increase in assets under management.
It was not surprising equity funds (€536.2 bn) held the majority of assets, followed by bond funds (€225.5 bn), commodity products (€21.5 bn), alternative UCITS products (€6.3 bn), money market funds (€3.8 bn), mixed-assets funds (€2.0 bn), and "other" funds (€0.1 bn).
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Source: Refinitiv
New WisdomTree ETF on Xetra: Cloud technology companies
October 14, 2019--Since Monday, a new WisdomTree ETF is tradable via Xetra and Börse Frankfurt.
The WisdomTree Cloud Computing UCITS ETF-USD Acc gives investors the opportunity to invest in cloud technology companies. The ETF aims to track the price and return performance of the BVP Nasdaq Emerging Cloud Index before fees and expenses.
It invests in future-oriented listed companies that primarily provide cloud software and services to their customers.
A total of 49 companies from the USA, Canada, Australia and Israel were selected by Bessemer Venture Partners and included in the index. The individual stocks in the index are equally weighted and rebalanced every six months in February and August.
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Source: Deutsche Börse Cash Markets
LuxSE releases Guide to ESG Reporting
October 14, 2019--In line with its stated objective to promote transparent capital markets, the Luxembourg Stock Exchange (LuxSE) has published a set of comprehensive guidelines for reporting on Environmental, Social and Governance aspects (ESG).
Reflecting the unique diversity in its capital market ecosystem, LuxSE's ESG Guidelines address the specific scope and needs of its three main stakeholders: companies, issuers of sustainable debt instruments, and asset managers active in sustainable & responsible investment funds.
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Source: Luxembourg Stock Exchange (LuxSE)
LSE lays down tougher rules for green bond reporting
October 11, 2019--Exchanges push out series of initiatives aimed at facilitating sustainable investments
Bonds issued by companies with revenues dominated by green activities will be required to submit annual, verified reports about how the proceeds are being used, the exchange said on Friday, while the "Green Economy Mark" will identify equity issuers with at least half of their revenues coming from environmental...
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Source: FT.com
Euro area securities issues statistics: August 2019
October 11, 2019--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 3.2% in August 2019, compared with 3.0% in July.
For the outstanding amount of listed shares issued by euro area residents, the annual rate of change was-0.1% in August 2019, the same as in July.
Debt securities
New issuance of debt securities by euro area residents totalled EUR 512.2 billion in August 2019. Redemptions amounted to EUR 479.5 billion and net issues to EUR 32.7 billion. The annual growth rate of outstanding debt securities issued by euro area residents was 3.2% in August 2019, compared with 3.0% in July.
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Source: ECB
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