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Trading : ETFs in Europe : Roger Aitken
January 31, 2014--CROWDED HOUSE.
Europe's exchange-traded fund (ETF) landscape has certainly become more crowded following BATS Chi-X Europe's launch of a new pan-European platform late last year.
Can the market stomach another and what's the prognosis for 2014? Roger Aitken reports.
Opaque and illiquid. That's how some have described the European ETF market. However, things are changing and there are high hopes for 2014. The evolution though is likely to differ from the US where it all began in 1993 largely for the retail segment.
view more Economic Sentiment continues to improve in the euro area and the EU
The EU's ESI indicator showed confidence notably on the rise in major economies Germany (0.7 points), where confidence was at its highest since August 2011, and in France (1.1 points), the highest since April 2012. view more
Lira on the skids as PM's comments fuel volatility view more Spain welcomes SPDR ETF view more 'Time for supervision, not regulation', implores EFAMA head view more
DB-Synthetic Equity & Index Strategy-Europe-ETF Research-European Weekly ETF Market Review Dividend distributing share class for EMLB
The PIMCO EM Advantage Local Bond Index Source ETF offers exposure to local emerging market sovereign debt via the PIMCO EM Advantage Local Currency Bond Index, an innovative, GDP-weighted index, offering exposure to 15 emerging market countries. view more
Lyxor launches Ucits ETF with exposure to eurozone banks view more
Euro nations 'worried' by emerging markets view more
IMF Working paper-Sovereign CDS Spreads in Europe: The Role of Global Risk Aversion, Economic Fundamentals, Liquidity, and Spillovers If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: Bestexecution.net
January 30, 2014-In January the Economic Sentiment Indicator (ESI) increased by 0.5 points in the euro area (to 100.9) and by 0.9 points in the EU (to 104.7). While the upward trend observed since May 2013 has been continued, the magnitude and sectoral scope of the improvement in confidence has moderated somewhat.
Confidence in the 18-nation area stood at 100.9 points against 100.4 in December, the EU executive said.
Source: European Commission
January 30, 2014--Turkey's central bank's massive interest rate hike has done nothing to contain the lira's slide and statements from top government figures are fueling market uncertainty, damaging investor confidence.
The lira was trading at 2.27 against the US dollar on Thursday, well above Wednesday morning's rate of 2.16 after the central bank hiked interest rates to defend the embattled currency.It is feared that the big emergency interest rate hike, prompted by a continuous dive in the lira, will dent Turkey's economic growth.Given current market conditions, politicians should take extreme care not to make comments that could exacerbate ongoing volatility, observers are saying.
Source: Todays Zaman
January 29, 2014--Access to exchange-traded funds (ETFs) in Spain has increased with the registration of 41 SPDR products.
SPDR is the ETF range from State Street Global Advisors (SSGA) and the well-known SPDR S&P US Dividend Aristocrats Ucits ETF is among the flagship funds now registered there.
Olivier Paquier,head of SPDR ETFs for France and Spain at SSGA, says:"We are seeing increasing demand from Spanish investors for ETFs and we believe the ETF industry in Spain offers exciting growth potential."
Source: Funds Europe
January 29, 2014--The head of influential asset management trade body EFAMA last night called on politicians to create a "level playing field" for the regulation of financial products in Europe.
The call was made by Christian Dargnat, president of the European Fund and Asset Management Association, who was speaking at an evening reception at the UK's House of Commons, jointly hosted by EFAMA and the UK’s Investment Management Association.
Source: International Advisor
January 29, 2014--The most recent issue of the European Weekly ETF Market Review is now available.
view report
Source: Deutsche Bank-Synthetic Equity & Index Strategy- Europe
January 28, 2014--PIMCO and Source are launching a version of the PIMCO EM Advantage Local Bond Index Source ETF distributing dividends monthly and available in USD on the LSE (ticker EMLI LN)
The ETF currently has assets of US$ 213 million.
Source: Source
January 28, 2014--Lyxor Asset Management has launched Ucits ETF EUROSTOXX BANKS on NYSE Euronext, an ETF providing exposure to the main eurozone banks selected among the EURO STOXX index according to ICB classification.
The product will replicate the EURO STOXX Banks index, which benefits from Lyxor's strong experience in European sectors.
Source: Investment Europe
January 28, 2014-- Eurozone countries are "worried" by the problems hitting emerging economies but do not believe there is a risk of contagion, senior officials said Monday.
Jeroen Dijsselbloem, the head of the Eurogroup which gathers the finance ministers of countries that use the single currency, insisted that the euro's fragile recovery was not threatened.
Source: EUbusiness
January 28, 2014-- Summary: By analysing data from January 2007 to December 2012 in a panel GLS error correction framework we find that European countries' sovereign CDS spreads are largely driven by global investor sentiment, macroeconomic fundamentals and liquidity conditions in the CDS market.
But the relative importance of these factors changes over time. While during the 2008/09 crisis weak economic fundamentals (such as high current account decifit, worsening underlying fiscal balances, credit boom), a drop in liquidity and a spike in risk aversion contributed to high spreads in Central and Eastern and South-Eastern European (CESEE) countries, a marked improvement in fundamentals (e.g. reduction in fiscal deficit, narrowing of current balances, gradual economic recovery) explains the region’s resilience to financial market spillovers during the euro area crisis. Our generalised variance decomposition analyisis does not suggest strong direct spillovers from the euro area periphery. The significant drop in the CDS spreads between July 2012 and December 2012 was mainly driven by a decline in risk aversion as suggested by the model’s out of sample forecasts.
