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World Bank Revises its 2013 Growth Projection for Russia- from 1.8 Percent to 1.3 Percent
December 13, 2013--The World Bank revised its September Russia growth projection for 2013 from 1.8 percent down to 1.3 percent as part of its quarterly forecast review.
The underlying assumption for this revision is weaker than expected domestic demand, with delayed investment recovery coupled with a slowing in consumption growth.
"Growth for 2014 is projected at 2.2 percent, and at 2.7 percent for 2015. The Bank expects that investment activities will slowly pick up, as the destocking cycle comes to an end and consumption growth will level out," said Birgit Hansl, World Bank Lead Economist for the Russian Federation.
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Source: World Bank
Scrapping ETF stamp duty "insufficient" to lure providers to UK
December 12, 2013--Firms are divided on whether the Chancellor's move to axe the 0.5 per cent stamp duty paid by exchange traded funds will see more UK-based ETFs, with concern the may be "insufficient" to lure providers based abroad.
Chancellor George Osborne announced in his Autumn Statement last week this tax will now be scrapped from April. The move follows the Budget announcement that stamp duty for Aim shares would be abolished.
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Source: Money Marketing
Boost & Interactive Investor announce FREE of commission trading in Boost's ETPs
December 12, 2013--Interactive Investor will allow all its clients to trade BOOST's Exchange Traded Products (ETPs) for FREE from today until 31st March 2014
A free trading facility in ETPs is a first for the UK market, BOOST has 44 short and leverage ETPs listed on the London Stock Exchange
BOOST's range includes the main commodity and equity benchmarks including Gold, Oil, FTSE 100 and FTSE 250
BOOST ETP, the award winning and independent ETP provider, which specialises in Short and Leveraged (S&L) ETPs, are pleased to announce that customers of Interactive Investor (II) will be able to trade BOOST's ETP's for free until 31st March 2014. II customers normally pay up to £10 per trade and as of today they will be able to trade for free.
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Source: Boost
DB-Synthetic Equity & Index Strategy-ETF Research - European Weekly ETF Market Review
December 12, 2013--The most recent issue of the European Weekly ETF Market Review is now available. The report includes key statistics on the European ETF market as well as global ETF market highlights.
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Deutsche Bank-Synthetic Equity & Index Strategy- Europe
Euronext seeks ETF trading boost
December 12, 2013--Euronext, owner of the Amsterdam, Brussels, Lisbon and Paris stock exchanges, has launched a new incentive scheme to increase activity levels for exchange traded funds.
Under Euronext's new liquidity programme (LP) scheme, which went live at the start of December, market makers will be able to trade ETFs and ETF-like products for free if trading volumes for those passive products account for a quarter or more of their total trading volumes averaged over a month.
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Source: FT.com
UPDATE 1-Eleven EU states to consider narrower transaction tax
December 11, 2013--The 11 European Union countries that have pledged to tax financial transactions will consider narrowing the levy's scope to shield pensions, government debt and markets that help to grease the economy, an EU document shows.
The aim of the tax is to make banks pay for some of the taxpayer money they received during the 2007/09 financial crisis, but worries over unintended consequences have mounted among some of the countries taking part.
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Source: Reuters
Two companies to join FTSE 100 Index
December 11, 2013--FTSE Group ("FTSE") confirms today that Royal Mail and Ashtead Group will be joining the FTSE 100 Index. In the rebalance, Croda International and Vedanta Resources will leave the UK's leading index and enter the FTSE 250 Index.
The changes announced today are part of the impartial quarterly reviews approved by the independent FTSE Europe, Middle East and Africa Regional (EMEA) Committee. The rules-driven reviews ensure the indices continue to portray an accurate reflection of the market they represent, and form an essential component to the management of the indices.
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Source: FTSE
November 2013: turnover remains stable-SIX Swiss Exchange and Scoach Switzerland Ltd
December 10, 2013--The statistical monthly report contains the latest trade and turnover figures for SIX Swiss Exchange and Scoach Switzerland Ltd.
SIX Swiss Exchange and Scoach Switzerland Ltd recorded a minimal decrease in turnover of -0.8% (to CHF 79'181 million) compared to the previous month-which was two trading days longer. This decline only took place in the segment Equities including Funds and ETPs; all other segments recorded higher turnover of up to 32.7% (Structured Products and Warrants) in October 2013. During the 231 trading days since the beginning of the year, overall turnover amounts to CHF 925'845 million-11.3% more than in the same period in the previous year.
More transactions than in 2012
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Source: SIX Swiss Exchange and Scoach Switzerland Ltd
Boost Trade Idea of the Week-US strength bolsters energy, kills precious metals
December 10, 2013--Summary
The strengthening US economy boosts sentiment in energy commodities as the outlook for oil and gas demand in the US improves. Amidst a winter season and subdued supply conditions, the rally in WTI Oil and Henry Hub natural gas should have legs in December.
Underpinning the downbeat sentiment in precious metals is the resilient equity market increasingly unshaken by looming taper fears. US's fundamental strength and ability to absorb rising interest rates is a prelude to gold and silver coming under further pressure.
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Source: Boost
DB-Synthetic Equity & Index Strategy-Europe Monthly ETF Market Review-Developed Markets Continue to Attract New Money
December 9, 2013--Data in this report is as of 29 November 2013
Global Summary
Global ETP assets rose by $36.4bn last month (+21.1% YTD) and closed the month at an all time high $2.2 trillion. ETP assets across all the regions are at their highest level with 23.5%,11.7% and 23.5% YTD growth for US,Europe and Asia respectively.
Global ETP industry continues to attract positive monthly flows recording +$16.4bn of inflows in November. US domiciled ETPs remain major contributor receiving +$12.9bn of positive flows,followed by Europe with +$3.6bn flows. Fund flows were flat in Asia region with -$64mn of outflows. Globally,equities saw inflows of +$17.6bn,followed by fixed income (+$0.4bn) while commodities witnessed outflows of -$1.8bn.
European cash flow summary
Europe: Equity ETFs continue to collect healthy inflows,fixed income ETFs also had some inflows
European domiciled ETPs received healthy cash flows in November recording +€.2.6bn of inflows,keeping broadly the same trend as was in October (+€.2.8bn). Equity ETFs had the lion’s share in total flows registering +€.2.4bn of inflows followed by fixed income ETFs (+€.0.6bn),while commodity ETPs experienced outflows of -€.0.2bn.
Similar to previous month,all the segments within equity recorded positive flows for the last month. Developed markets (DM) ETFs recorded +€.1bn of inflows in November (+€.1bn in Oct’13). Among other segments,sector,strategy and style brought +€.0.3bn,+€.0.3bn and +€.0.2bn of monthly inflows respectively.
Fixed income ETFs observed inflows of +€.0.6bn in November,lower than the previous month (+€.1bn in Oct’13),taking YTD total to +€.7.5bn. ETFs benchmarked to sovereign and corporate bond indices were the largest cash flows receivers of the month recording +€.0.7bn and +€.0.2bn of cash inflows. Money market ETFs saw outflows of -€.0.3bn over the same period.
Commodity ETPs have been experiencing outflows since January this year and last month again recorded outflows of -€.0.2bn (-€.8.5bn YTD). Commodity ETPs outflows were largely driven by gold products in the region with -€.0.2bn of withdrawals (-€.8bn YTD). Gold ETPs saw monthly outflows for the entire year so far.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe Monthly ETF Market Review
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