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ECB-Monetary developments in the euro area
August 28, 2013--The annual growth rate of the broad monetary aggregate M3 decreased to 2.2% in July 2013, from 2.4% in June 2013.1
The three-month average of the annual growth rates of M3 in the period from May 2013 to July 2013 decreased to 2.5%, from 2.8% in the period from April 2013 to June 2013.view more
Source: ECB
Eurex Futures Exchange Halts Trading on Technical Glitch
August 26, 2013--A technical glitch halted trading on Eurex, Europe's largest derivatives market, for about 60 minutes, adding to this month's tally of exchange breakdowns following a three-hour shutdown of the Nasdaq Stock Market.
The bourse first said it was investigating “technical issues” in a post on its website at 8.30 a.m. Frankfurt time today, with data compiled by Bloomberg showing no prices for futures on the benchmark Euro Stoxx 50 Index and Germany’s DAX Index from about 8:15 a.m. Trading resumed at 9:20 a.m., Frankfurt-based Eurex said in a separate statement
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Source: Bloomberg
FESE European Equity Market Report- July 2013
August 26, 2013--The FESE European Equity Market Report July 2013 is now available.
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Source: FESE
Lyxor boosts sales team after ETF exits
August 26, 2013--Lyxor, Europe's third-largest provider of exchange traded funds, is ramping up its sales and marketing team across all its business lines after a string of senior departures sparked rumours earlier this year that the Société Générale subsidiary could be sold.
The French firm plans to add 16 sales and marketing people overall this year, with around one-third focused on the ETF business, which has $39.3bn of assets. The remaining hires will join Lyxor’s other businesses, including alternatives, advisory services and managed accounts.
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Source: FT.com
UK markets supervisor rejects EU regulatory guidance
August 26, 2013--The new UK markets supervisor has for the first time rejected formal EU guidance on financial regulations this summer, adopting alternative rules that favour bankers and brokers.
The Financial Conduct Authority, which opened in April, has broken publicly with the formal EU interpretation of two different rules in the past three months, in moves which City experts have linked to the government’s recent tougher stance on Europe.
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Source: FT.com
First DAX ETF launches on London Stock Exchange
ETF will give investors direct exposure to leading German stocks
First ever DAX-based Exchange Traded Fund to list in London
August 23, 2013--London Stock Exchange today welcomes the db x-trackers DAX UCITS ETF (DR), the first Exchange Traded Fund (ETF) based on DAX, the blue-chip German equity index, to list in London. Launched by Deutsche Asset & Wealth Management, the physical ETF will give UK-based investors their first ever opportunity to gain direct exposure, via an exchange traded product, to the leading German index.
DAX-based ETFs are exceptionally popular in their domestic market, Germany, where they dominate as the most traded ETFs. The DAX index reflects the largest and most actively traded German companies listed on the Frankfurt Stock Exchange, including global brands such as Siemens, SAP, Bayer and Volkswagen.
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Source: London Stock Exchange
ETFS, Royal Mint to Offer Investors Gold Securities for Coins
August 22, 2013--Exchange-traded product provider ETF Securities has partnered with The Royal Mint of Great Britain to offer retail investors the ability to exchange Gold Bullion Securities listed on the London Stock Exchange for physical bullion coins, the company said Thursday.
Investors will be able to swap Gold Bullion Securities for Sovereigns and Britannias, investment grade bullion coins produced by The Royal Mint, ETFS said in an emailed statement. While investors can take delivery of metal held in gold-backed ETP's, ETF Securities said it is the first provider to offer this particular service.
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Source: Menafn.com
Markets tumble as Turkey scrambles to halt lira slide
August 22, 2013-Turkish main benchmark index extended losses in a second-day losing streak as the local currency crept slightly above record lows on Thursday.
Shares traded on Bourse İstanbul (BIST) were down 2.3 percent at 68.114 points, hovering around nine months' lowest. The rout in Turkey and emerging markets gathered pace on Thursday after a sharp spike in US debt yields lifted borrowing costs globally. Turkey's lira edged back from a record low on Thursday after the central bank sold $700 million in a forex auction as part of additional monetary tightening steps to try to stem a slide in the currency.
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Source: Today's Zaman
Eurozone activity picks up sharply in August
August 22, 2013--Eurozone activity picked up sharply in August to a 26-month high as the battered economy climbed out of a damaging recession, a closely watched survey showed on Thursday.
Analysts said the report confirmed that the 17-nation eurozone was finally turning the corner after a downturn made worse by a debilitating debt crisis cost millions of jobs and tested the single currency bloc to the limit.
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Source: EUbusiness
BNP Paribas revives "originate to distribute" for commodities
August 22, 2013--BNP Paribas is taking part of its commodity trade book off balance sheet, in a new deal called Lighthouse Trade Finance 1, reviving the "originate to distribute" business model.
It has sold a securitisation of USD131.6m of commodity transport receivables, the first in a planned series of deals from the bank's Energy and Commodities group. The deal removes the receivables from the French bank's accounting and regulatory balance sheet, which should allow it to originate more commodity trade finance than its increasingly constrained balance sheet allows.
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Source: Reuters
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