Greek Banks to Open Monday as Next Parliamentary Vote Looms
July 19, 2015--Greek banks will reopen for basic services on Monday, three weeks after they were shut to prevent their collapse, as Prime Minister Alexis Tsipras prepares for a second parliamentary vote crucial to securing a bailout.
Greeks will regain banking services including the ability to deposit checks and access safe deposit boxes, the government said in a decree yesterday.
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Source: Bloomberg
Russia's Beating the BRICS in 2015 on Turnaround Potential
July 19, 2015--Which country would you invest in: a fast-growing economic powerhouse with a world-beating stock market or a tottering former superpower embroiled in a proxy war and heading for a recession?
If at the start of 2015 you had chosen the second, Russia, you would be walking away with risk-adjusted returns surpassing that of the first, China, and also every other BRICS country, according to data compiled by Bloomberg.
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Source: Bloomberg
UBS unveils USD-hedged MSCI EMU ETF
July 17, 2015--UBS Global Asset Management has listed a new ETF offering investors the opportunity to invest in equities from Eurozone countries with US dollar currency hedging.
The ETF, the UBS ETF (LU) MSCI EMU hedged USD UCITS ETF (USD) A-dis (UC89), has been listed on the London Stock Exchange and is linked to the MSCI EMU 100% Hedged to USD Index.
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Source: etfstrategy.co.uk
Ossiam launches Shiller Barclays CAPE Sector Value Europe ETF
July 17, 2015--Ossiam, a leading provider of smart beta investment solutions, has teamed up with Barclays to launch the Ossiam Shiller Barclays CAPE Europe Sector Value TR UCITS ETF 1C (EUR).
The fund, which has been listed on the London Stock Exchange, is the first ETF globally to be based on the Shiller Barclays CAPE Sector Indices.
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Source: etfstrategy.co.uk
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.
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Source: FT.com
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.
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Source: Boost
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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Source: HM Treasury
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.
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Source: IMF
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.
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Source: Reuters
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.
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Source: Xetra
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