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S&P Dow Jones Indices Europe Dashboard
July 31, 2018--Summary
European equities posted steady gains in July as last month's focus on trade tensions and political risk largely gave way to earnings figures, economic data, and central bank guidance. The S&P Europe 350 gained 3.22%, with nearly all countries contributing positively to returns.
This month, British Prime Minister Theresa May survived multiple cabinet resignations over her "Chequers plan" for Brexit. The S&P United Kingdom underperformed broader EU equities, gaining 1.46% in sterling; less in euros.
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Source: S&P Dow Jones Indices
IMF Country Focus Greece: Much Progress, but Action Needed to Address Crisis Legacies, Boost Inclusive Growth
July 31, 2018--Greece has successfully eliminated its extraordinarily high fiscal and current account deficits, and restored growth. It must now take action to address crisis legacies and boost inclusive growth, says the IMF in its annual health check of the country's economy.
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Source: IMF
iSTOXX Developed Markets B.R.AI.N. Index licensed to Coincapital
July 31, 2018--STOXX Ltd., the operator of Deutsche B&oum;erse Group's index business and a global provider of innovative and tradable index concepts, has licensed the iSTOXX Developed Markets B.R.AI.N. Index to the Canadian Coin Capital Investment Management Inc (Coincapital).
The index uses FactSet Revere data to identify sectors likely to benefit from increased prevalence of four different themes: biotechnology, robotics, artificial intelligence (AI), and nanotechnology.
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Source: Deutsche Börse Cash Market
Jane Street Chooses Amsterdam for Post-Brexit ETF Trading Base
July 30, 2018--Europe's second-largest ETF trader already employs 5 in city.
Amsterdam is becoming a center for traders and trading venues
Jane Street Financial Ltd., Europe's second-biggest trader of exchange-traded funds, will serve its European Union clients from a new office in Amsterdam after Brexit.
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Source: Bloomberg
ESMA updates the Questions and Answers on ESMA's temporary product intervention measures
July 30, 2018--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers on ESMA's temporary product intervention measures on the marketing, distribution or sale of CFDs and binary options to retail clients based on Article 40 of Regulation (EU) No 600/2014 (the Markets in Financial Instruments Regulation, MiFIR).
The Q&A provides clarification on the scope of the temporary product intervention measures in relation to turbo certificates and structured finance products. The purpose of this Q&A is to promote common supervisory approaches and practices in the application of ESMA's temporary product intervention measures in relation to the marketing, distribution or sale of CFDs and Binary options to retail clients. It aims at market participants.
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Source: ESMA
ESMA finds shortcomings in national supervision of efficient portfolio management by UCITS
July 30, 2018--The European Securities and Markets Authority (ESMA) has found that national regulators need to improve their supervision of Undertakings for Collective Investments in Transferable Securities (UCITS) engaging in efficient portfolio management techniques (EPM).
A recent peer review by ESMA, which assessed the level of compliance of six national competent authorities (NCAs) with its Guidelines on EPM, found a number of shortcomings in certain NCAs' approaches when supervising the use of EPM by UCITS.
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Source: ESMA
Monday Morning Memo: Have European fund investors started to change their asset allocation?
July 29, 2018--Looking at the headline figures, first half 2018 could be considered a business-as-usual period for the European fund industry, since the assets under management (+€10.7 tr) increased in the first and second quarters of the year. But a closer look at the underlying trends shows that the recent geopolitical uncertainty and discussions of possible new tariffs in the U.S., which may result in a trade war, caused investors to change their asset allocations.
Assets Under Management in the European Fund Industry
The assets under management in the European fund industry increased from €10.4 tr to €10.7 tr over first half 2018. This increase was mainly driven by the performance of the underlying markets (+€178.1 bn), while net sales contributed €59.8 bn.
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Source: Detlef Glow, Thomson Reuters
Euro area economic and financial developments by institutional sector: first quarter of 2018
July 27, 2018--Euro area economic and financial developments by institutional sector: first quarter of 2018
Euro area net saving was higher in the first quarter of 2018, compared to the first quarter of the previous year. Total euro area non-financial investment (net) increased to 4.3% of net disposable income (compared with 3.8% a year ago), as increased investment by households and non-financial corporations was only partly offset by negative net investment of government.
Euro area net lending to the rest of the world stayed broadly unchanged compared to a year ago.
Household debt was lower compared to a year ago, both with respect to GDP and disposable income (the respective ratios decreased to 58.0% and to 93.7%).
Non-financial corporation debt declined to 133.7% of GDP, from 136.6% one year ago.
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Source: ECB
New ETF Listing on Euronext-
July 27, 2018--Euronext is pleased to announce that Amundi Asset Management will list 1 new ETF on 31/07/2018 :
ISIN: LU1437017350
ETF Trading name: AMUNDI MSCI EM DR
ETF Symbol: AEME
Venue: Euronext Amsterdam
Underlying index: MSCI Emerging Markets
TER (%): 0,20
Euronext now offers 758 Trackers listed on the European markets.
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Source: euronext.com
FLow Traders Reports 2Q18 NTI 53.8M euro, On Target To Achieve Record Year
July 27, 2018-- Flow Traders N.V. (Euronext: FLOW) today released its unaudited 2Q18 results. The highlights for the period are as follows:
NTI reached €53.8m in 2Q18, against € 213.2m in 1Q18 and € 46.7m in 2Q17. 1H18 NTI reached €266.9m and is on track to lead to a record year
Fixed costs grew 0.8% Q-o-Q, leading to fixed cost growth in 1H18 of 4.1% Y-o-Y
2Q18 EBITDA margin was 36%, leading to a 1H18 EBITDA margin of 57%
Net Profit reached €17.2m in 2Q18, resulting in a 1H18 Net Profit of €126.8m, or a 1H18 EPS of € 2.73
Under the CRR (Capital Requirement Regulation), Flow Traders' own funds requirement was €179m as at 30 June 2018, resulting in excess capital of €111m
Interim dividend for 2018 is set at € 1.35
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Source: Flow Traders
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