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Eurozone Finance Ministers Launch Bailout Fund
October 8, 2012--Europe's new bailout fund is being unveiled as finance ministers from the 17-nation eurozone meet in Luxembourg, amid more gloomy indicators about Europe's economic health.
Officially called the European Stability Mechanism, the new $653-billion rescue fund aims to offer a financial buffer for ailing eurozone economies like Greece and Spain. It follows September's announcement by the European Central Bank of a bond-buying plan to ease the longstanding eurozone debt crisis.
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Source: VOA
YAPI KREDI YATIRIM MENKUL DEGERLER A.S. APPLIED FOR PUBLIC OFFERING AND LISTING OF "YAPI KREDI YATIRIM MENKUL DEGERLER A.S. S&P/IFCI TURKEY LARGE MID CAP INDEX A TYPE ETF (EQUITY INTENSIVE FUND)"
October 8, 2012--Yapı Kredi Yatırım Menkul Değerler A.Ş. applied for public offering and listing of "Yapı Kredi Yatırım Menkul Değerler A.Ş. S&P/IFCI Turkey Large
Oc Mid Cap Index A Type ETF (Equity Intensive Fund)" on October 05, 2012
Source: Istanbul Stock Exchange
New SPDR ETF launched on Xetra
October 4, 2012--A new exchange-listed equity index fund issued by SPDR (State Street Global Advisors) has been tradable on Xetra since Thursday.
ETF name: SPDR S&P 500 Low Volatility ETF
Asset class: equity index ETF
ISIN: IE00B802KR88
Total expense ratio: 0.35 percent
Distribution policy: non-distributing
Benchmark: S&P 500 Low Volatility Index
The SPDR S&P 500 Low Volatility ETF enables investors to participate for the first time in the performance of 100 companies in the S&P 500 index with the lowest volatility.
The S&P 500 Total Return Net Index is weighted according to free float market capitalisation and tracks the performance of the 500 largest US stock corporations. The index is calculated on the basis of the reinvestment of dividends and distributions after the deduction of any tax.
Source: Deutsche Boerse
ESMA publishes a list of exempted shares according to the short selling regulation
October 4, 2012--To view the list and for further details
Click here
Source: ESMA
Swiss bourse SIX determined to resist foreign merger
Too few synergies in tie-up with bigger exchange-SIX chairman
SIX intends to sell remainder of Deutsche Boerse shares
October 3, 2012--The Swiss bourse SIX said it had no interest in being taken over by Deutsche Boerse and told its northern neighbour it had the unanimous backing of shareholders to resist a move that made no business sense.
"We want to remain independent," Peter Gomez, chairman of SIX's supervisory board, told journalists on Wednesday.
He said SIX decided a month ago - after a year-long investigation - that a merger with a bigger exchange would not help control costs through economies of scale.
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Source: Reuters
Eurozone slumps as France offsets German improvement
October 3, 2012--Eurozone private sector business activity remained firmly stuck in the doldrums in September, with the key services sector suffering a very sharp fall, a survey showed Wednesday.
The closely-watched Composite Purchasing Managers Index (PMI), a survey of 5,000 eurozone businesses compiled by Markit research firm, came in at 46.1 for September, up from an initial reading of 45.9 but down from 46.3 in August.
The survey put services alone at 46.1 in September, better than the preliminary estimate of 46 but well short of 47.2 in August, with the sector downturn accelerating to the fastest pace since July 2009, Markit said.
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Source: EUbusiness
EU single market reforms to boost growth: Barnier
Ocober 3, 2012--Reforms of the EU single market could spark growth of up to four percentage points, Internal Markets Commissioner Michel Barnier said Wednesday.
Outlining proposals adopted by the European Commission, Barnier said that combined, they "could generate two to four percentage points of growth" in time, an enormous achievement especially given the current economic slump.
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Source: EUbusiness
U.K. Bond Managers Adjust To Asset Growth
U.K. fixed-income managers have responded with differing tactics to the continuing growth in assets under management, according to S&P Capital IQ's latest sector trends paper.
October 3, 2012--UK fixed income managers have responded with differing tactics to the continuing growth in assets under management,
says S&P Capital IQ in its latest sector trends paper, available at www.marketscopeadvisor.com
Assets under management continue to grow as investors search for yield in an environment of low interest rates. According to IMA data, UK fixed income assets have increased by around 11.5% annually in the period from June 2009 to June 2012.
One of the major beneficiaries has been M&G - Richard Woolnough's Strategic Corporate Bond and Corporate Bond funds held £5.16bn and £6.31bn, respectively, as at the end of June. In the summer, Woolnough became concerned that further asset growth would start to limit his ability to manage the portfolios most effectively. However, he was not concerned about liquidity; he was more concerned with the ability to add value through stock selection. M&G has tried to limit flows into these funds by persuasion rather than closing the vehicles.
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Source: Mondovisione
UK Official holdings of international reserves, September 2012
October 3, 2012--This monthly release shows details of movements in September in the UK's official holdings of international reserves, which consist of gold, foreign currency assets and International Monetary Fund assets.
These reserves are maintained primarily so that the UK Government’s reserves could be used to intervene to support Sterling, or the Bank of England’s reserves could be used to support the Bank’s monetary policy objectives. If such interventions were to occur, then they would be shown and explained in this release. The Background note at the end of this release explains more about the reserves, and about these statistics.
In summary this month’s release shows that, in September 2012:
No intervention operations were undertaken.
Movements in reserves and levels of reserves were as follows:
view the UK Official holdings of international reserves, September 2012
Source: HM Treasury
Boerse Stuttgart generates turnover of around EUR 7.2 billion in August
Two-digit growth in investment products compared with previous month//
Total turnover below record levels of August 2011
October 2, 2012--According to its order book statistics, the Stuttgart Stock Exchange generated turnover of around EUR 7.2 billion in August 2012.
The trading volume was around the same as in July 2012, but below the outstandingly high trading volume recorded in August 2011 when strong market turbulence resulted in a temporary collapse in markets around the world and an extraordinary increase in trading volumes.
Securitised derivatives accounted for the largest share of the transaction volume. Turnover in this asset class in August was more than EUR 3.6 billion, an increase of just under 2 percent in comparison with the previous month. However, the turnover trend of investment products was very different from that of leverage products. The transaction volume in leverage products was slightly weaker than in July, totalling almost EUR 1.4 billion. By contrast, trading in investment products was up around 12 percent to more than EUR 2.2 billion.
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Source: Boerse Stuttgart
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