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Deutsche Bank and Commerzbank abandon merger talks
April 25, 2019--Deutsche Bank and Commerzbank have abandoned merger talks, saying the deal would have been too risky.
Both banks said the deal would not have generated "sufficient benefits" to offset the costs of the deal.
The German banks only entered formal merger talks last month.
The German government had been supporting the tie-up, with reports saying Finance Minister Olaf Sholz wanted a national champion in the banking industry.
The government still owns a 15.5% stake in Commerzbank, acquired after the bank was bailed out following the financial crisis.
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Source: BBC.com
New US exchange MEMX could come to Europe, backer hints
April 25, 2019--One of the backers of MEMX, the new US exchange set up to challenge Nasdaq and the New York Stock Exchange, has hinted that the model could be exported to Europe.
Doug Cifu, the chief executive of Virtu Financial, a proprietary trading firm and broker, said: "The mandate of the MEMX Exchange is not limited to the United States."
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Source: fnlondon.com
European Commission to gain more powers over non-EU firms
April 25, 2019--New financial regulatory measures close to final approval by the EU are stricter on firms domiciled outside the EU than the current rules, a European Commission spokesperson says.
They give the European Commission more power to determine which countries' financial firms will be allowed to serve customers within the EU, the official says.view more
Source: Smartbrief
UBS, Deutsche Bank in asset management merger talks: FT
April 23, 2019--The asset management arms of Deutsche Bank AG and Swiss bank UBS Group AG are in "serious" merger talks, the Financial Times reported on Tuesday, citing people familiar with the discussions.
The talks have been going on for two months, the newspaper reported, adding that if the deal were to materialize, the combined business would have just over 1.4 trillion euros ($1.57 trillion) of assets under management.
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Source: Reuters
Monday Morning Memo: European Investors hunting yield in the bond market
April 22, 2019--The negative trend with regard to fund flows in Europe continued in March even as the securities markets rebounded. As a consequence, March was the eleventh month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows.
Given the current interest rate environment, it was surprising that bond funds (+€16.4 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€0.1 bn). All other asset types faced outflows: equity funds (-€20.9 bn), alternative UCITS funds (-€7.9 bn), mixed-asset funds (-€5.5 bn), “other” funds (-€0.5 bn), and commodity funds (-€0.4 bn).
These fund flows added up to overall net outflows of €18.8 bn from long-term investment funds for March. ETFs contributed inflows of €5.5 bn to these flows.
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Source: Refinitiv
New iShares ETFs on Xetra: Companies from different regions with focus on sustainability
April 18, 2019-Since Thursday five new Exchange Traded Funds from iShares are tradable via Xetra and Börse Frankfurt.
With the equity ETFs, investors can participate in the performance of various MSCI indices on a regional or global level, which are composed alternatively according to sustainability criteria.
The reference indices exclude companies related to weapons and tobacco manufacturing or generate their income from power station coal or oil sand business.
Companies that violate the UN Global Compact principles or do not have an ESG ranking are also removed from the indices. The weighting of the companies in the individual indices is based on their ESG ratings and CO2 emissions.
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Source: Deutsche Börse Cash Market
Solactive drives innovative index development with cutting-edge Emotional Data Intelligence Index, serving as the underlying for UBS Index Certificate
April 17, 2019--Solactive is pleased to announce the development of yet another innovative index utilizing alternative data sources. The next index deployed by the German Index Provider is labeled Solactive Europe Big Data Sentiment Index and features a unique approach of using emotional data.
The proprietary algorithm mines user-generated information from Social Media platforms, delivering the primary dataset of this particular index.
Social Media data is a valuable source of information.
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Source: Solactive AG
Major investors hold two thirds of the free float of Austrian prime market companies-STUDY
April 17, 2019--US institutional investors top for 7 years
Top institutional investors: sovereign wealth funds Norges (NO), Vanguard Group (USA) and BlackRock Fund Advisors (USA)
Corporate growth dominant investment strategy-Passive asset managers on the advance
(Vienna) International institutional investors remain the largest investor group in the ATX Prime in 2018. Institutional investors hold a total of 65.3%, the rest is held by domestic private investors (18.4%) and non-financial companies (16.3%). Among the institutional investors, US investors are the most loyal investor group. In absolute terms, they invested EUR 10.7 billion in Austrian stocks at the end of 2018.
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Source: wienerborse.at
World Gold Council Market Update: European gold-backed ETPs reach record highs
April 17, 2019--Since the start of 2016, assets in European gold-backed exchange traded products (ETPs) have grown rapidly, hitting a record high of 1,121.4t (US$48bn) in Q1 2019. Now accounting for 45% of the global gold-backed ETP market, they have transformed gold investment in Europe.
So, what has caused this surge in demand for gold-backed ETPs in Europe? We summarise the three broad factors which explain this surge in demand for gold-backed ETPs in Europe:
Loose monetary policy and negative yields. The warning lights have been flashing for some time: the global and European economy is slowing.
Geopolitical uncertainty. Political uncertainty across the continent is also front and centre of investors' minds.
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Source: World Gold Council
Forecasts for the UK economy: April 2019
April 17, 2019--A comparison of independent forecasts for the UK economy in April 2019.
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Source: HM Treasury
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