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Eurozone downturn gathers pace in October
November 6, 2012--Private sector business activity across the eurozone shrank at its fastest rate in three-and-a-half years in October, a key survey showed on Tuesday.
The Purchasing Managers Index (PMI), a leading indicator compiled by the Markit research firm, produced a combined manufacturing and services score of 45.7 points, down from 46.1 in September and below an earlier flash estimate of 45.8.
This was "a level historically consistent with the region's economy contracting at a quarterly rate of around 0.5 percent," said Markit senior economist Rob Dobson.
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Source: EUbusiness
Asia-Europe leaders warn on global economy
November 6, 2012--Asian and European leaders warned Tuesday of “substantial” uncertainties facing the global economy and pledged to work together to strengthen economic ties.
They also voiced hope at an Asia-Europe Meeting (ASEM) in Laos that the debt-laden European economy would "gradually recover" from its current slump, according to a closing statement.
"Leaders emphasised that strong and sustained economic growth in ASEM partners would contribute to the long-term strong, sustainable and balanced growth of the world economy," it said.
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Source: EUbusiness
D. Boerse faces 100-150mEuro capital shortfall
November 6,2012-- Deutsche Börse needs around €100m-€150m in additional capital for Eurex, its clearing house, to meet incoming requirements from European regulators as it prepares for the implementation of wide-ranging reforms of derivatives markets.
The shortfall, announced to analysts on a conference call last week, comes as the German exchange prepares to formally launch off-exchange derivatives clearing on Eurex on November 13.
Fitch upgrades Turkey's rating to investment grade view more Inflation eases to one-year low at 7.8 pct in October read more GBP listing for MAN GLG Europe Plus Source ETF The Man GLG Europe Plus Source ETF seeks to provide the performance of the Man GLG Europe Plus Index, which replicates a liquid, highly diversified long only European equity portfolio constructed from high quality ideas contributed by approximately 65 leading brokers. The Index has a market cap exposure to the broad European equity market, and aims to deliver enhanced returns. Since inception in January 2011, the Fund has attracted strong inflows, taking its AuM to US$800m (GBP 510m) as at 5 November 2012**. view more
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Accountant PwC has warned that the compliance process could take a year to put in place with time quickly running out. Its survey last week showed that 85% of 44 alternative managers have not started compliance or implementation programmes to address AIFMD. The accountant said: “This present predicament is particularly acute as, due to volatile, low market returns elsewhere, investors are increasingly looking to invest in alternatives.”
Source: Albourne Village Newsletter for Friday 9th November 2012
November 5, 2012--Leading global credit rating agency Fitch has upgraded Turkey's rating to investment grade, a first in Turkish history.
Fitch had maintained Turkey's rating at “"BB+," one notch below investment grade.
The agency said on Monday that "the upgrade to investment grade reflects a combination of an easing in near-term macro-financial risks as the economy heads for a soft landing and underlying credit strengths including a moderate and declining government debt burden, a sound banking system, favourable medium-term growth prospects and a relatively wealthy and diverse economy."
Source: Today's Zaman
November 5, 2012--Turkey's annualized inflation of consumer prices slowed to 7.8 percent in October, marking the lowest level in 11 months after rising sharply in the preceding month, data released by the Turkish Statistics Institute (TurkStat) have shown.
Consumer prices increased by 1.96 percent in October over September. This is still higher than the 1.03 percent rise in September over August. Monday's data arrives amid anticipation that earlier tax and energy hikes pushed October inflation much higher. Market expectation for an inflation increase in October over a month ago was 2.17 percent. Observers, however, argued a lower-than-expected rise in food prices helped mitigate the upward pressure from tax and energy hikes on October inflation
Source: Todays's Zaman
November 5, 2012--Source, a leading European ETP provider, is pleased to announce that its Man GLG Europe Plus ETF is now listed in GBP on the London Stock Exchange (LSE) and has US$800m in assets under management**.
This listing complements the existing listing in EUR on the XETRA section of the Deutsche Börse, and provides GBP-denominated investors easy access to this ‘smart beta’ outperformance strategy via an efficient ETF structure.
Source Source ETF
