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European biotechs rush to list on Nasdaq
July 15, 2015--A $245m fundraising by the French maker of a treatment for peanut allergy has highlighted a rush by European companies to raise money on Nasdaq's booming biotech market.
More than 20 European life science companies have listed in New York over the past two years and several others are preparing to join them in a reflection of the easier access to capital in the US.
Boost's short Silver and FTSE 100 are among the Top 5 Performing ETPs on the LSE in June
July 15, 2015--Boost Silver 3x Short Daily ETP (3SIS) rose 18.2% (GBP) in June on the back of silver futures falling 8.5% (GBP) in the same period, making it the third best performing ETP on the LSE.
Boost FTSE 100 3x Short Daily ETP (3UKS) was LSE’s fifth best performing ETP in June. 3UKS rose 19.5% (GBP) on the back of the FTSE 100 falling 6.4% (GBP) in the same period.
At the end of June Boost reached $383 million in AUM and had a new record in monthly turnover of $1.1 billion in June.
Statistics: Forecasts for the UK economy: July 2015
July 15, 2015--Forecasts for the UK economy is a monthly comparison of independent forecasts.
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IMF Country Report-Germany: Selected Issues
July 15, 2015--GERMANY'S SUSTAINED CURRENT ACCOUNT
SURPLUS: AN INTERNATIONAL COMPARISON1
1. This paper identifies episodes of large and sustained current account surpluses in advanced economies (AEs) and compares Germany's ongoing surplus with those episodes.
In doing so, it aims to put Germany's external position in a historical and cross-country context drawing from 55 years of data across 20 AEs. This comparison shows that the real growth of all domestic demand components, particularly of private investment, was remarkably weak during the latest sustained surplus episode in Germany in comparison with both "normal times" and other AE surplus episodes. Neither Germany's nor a typical AE surplus episode has been accompanied by
visible, broad-based competitiveness or terms of trade gains; however, when competitiveness is measured by the ULC based REER for the manufacturing sector, a depreciation is in evidence in the
run-up to and early years of Germany’s surplus episode.
EU steps up pressure for rapid deal to revive asset-backed debt
July 14, 2015--European Union reform of the securitized debt market to help to revive the region's economy is likely to be binding on member countries to speed up change, a senior official from the bloc's executive body said on Tuesday.
The European Commission is due to come up with concrete proposals in late September for a capital markets union or CMU to make it easier for companies in Europe to raise cash from financial markets.
New Lyxor bond index ETF launched on Xetra
ETF provides access to corporate bonds with variable interest rates
July 14. 2015--A new exchange-listed index fund issued by Lyxor International Asset Management has been tradable on Xetra and Börse Frankfurt since Tuesday.
The new Lyxor UCITS ETF Barclays Floating Rate Euro 0-7Y tracks the performance of the Barclays Euro Corporate FRN 0-7Y Enhanced Duration Index. The reference index comprises corporate bonds denominated in euros with a variable rate of interest. The corporate bonds must have a residual maturity of up to seven years at the time of inclusion in the index.
Europe's first ETF on Chinese government bonds launched on Xetra
ETF tracks performance of onshore bonds denominated in Renminbi
July 14, 2015--The db x-trackers II Harvest CSI China Sovereign Bond UCITS ETF (DR) gives investors first-time access to the performance of Chinese government bonds via a physically replicated ETF.
The ETF was issued by Deutsche Asset & Wealth Management together with Harvest Global Investments and has been tradable on Xetra and Börse Frankfurt since Tuesday.
Name: db x-trackers II Harvest CSI China Sovereign Bond UCITS ETF (DR)
Asset class: bond ETF
ISIN: LU1094612022
Ongoing charges: 0.55%
DeltaOne Solutions and Horizon Software Announce ETF Data and Trading Technology Alliance
ETF sourcing and trading technology to improve efficiency and rationalize infrastructure
July 13, 2015-DeltaOne Solutions, a CoreOne Technologies company, today announced their alliance with Horizon Software.
DeltaOne is the premier Index and ETF data technology provider and Horizon Software is the leading provider of automated trading systems.
Investor Protection Does Not Always Benefit Investors
July 13, 2015--Although binding rules are important for the markets, a poorly conceived system of pension provision can be detrimental to investors.
As Thomas Alva Edison remarked: "A good intention, with a bad approach, often leads to a poor result". Governments all over Europe have the best intentions towards investors as far as the regulation of the financial markets is concerned. By imposing all kinds of measures on the other market participants they attempt to reduce risk of retail investors as far as possible.
Punishing terms of Greek bailout deal
July 13, 2015-The austerity measures that Greece agreed to on Monday in return for a bailout to stave off a euro exit involve some of the harshest terms Athens has faced in five years of rescue programmes.
Here are the key points of the statement issued by eurozone leaders after 17 exhausting hours of talks, with many far-reaching steps for Greece to take:
