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UK moves closer to second recession as economy shrinks 0.2%
Drop in manufacturing output dents hopes UK can avoid slump
Data reinforces expectations of new round of QE
Chancellor says government will not change fiscal plans
January 25, 2012--Britain has moved closer to its second recession in three years after official figures showed the UK economy contracted by 0.2% in the last three months of 2011.
A severe drop in manufacturing output in the last quarter dented hopes that the UK could avoid joining much of Europe in a slump that is expected to push up unemployment and see thousands of companies go bankrupt.
Capital Economics, a leading firm of economic analysts, said it was likely the UK was already in recession.
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Source: The Guardian
Deutsche Börse launches algo news feed in Brazil
Availability in Sao Paulo data center marks expansion of “AlphaFlash” into Latin America
January 25, 2012--Deutsche Börse – Market Data & Analytics has launched “AlphaFlash”, its algorithmic news feed, in a data center in Sao Paulo. The feed is available now in Brazil, marking AlphaFlash’s official expansion into South America.
AlphaFlash is hosted at a data center at a local exchange in Sao Paulo.
“Brazil is considered the leader in algorithmic and high frequency trading in Latin America. As this growing market continues to develop, we see greater demand from local quant traders, hedge funds and market participants to consume machine-readable news quickly and efficiently. The new data center allows customers to access AlphaFlash as fast as possible—right on the spot in Brazil, so they can swiftly execute their automated trades,” said Georg Gross, Head of Front Office Data & Analytics at Deutsche Börse.
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Source: Deutsche Börse
EEX Opens Office In Brussels - Energy Commissioner Günther Oettinger Welcomes EEX To Brussels – Political Presence At The European Level Expanded
January 25, 2012--Yesterday, the European Energy Exchange (EEX) officially opened its political representation in Brussels with a New Year reception.
This presence in the heart of the European Quarter is intended, in particular, to expand contacts with the European institutions and intensify the exchange of opinions. Thus, the Brussels offices takes account of the high significance which political decisions of the EU have for the further integration of the European energy markets.
“Energy trading has a central role on the way towards completion of the European internal energy market. The European energy exchanges and trading platforms have to make an important contribution in the current debate at the level of the EU. For this reason, I welcome EEX’s decision to establish a representative office in Brussels and thereby strengthen the market and trading perspective”, Commissioner Oettinger welcomed EEX.
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Source: EEX
Amundi expansion plans pay off
January 26, 2012--Amundi ETF is one of the top three European ETF providers by net new assets, according to Deutsche Bank's latest ETF market review.
Amundi ETF benefited from significant growth throughout the year to finish 2011 ranked as the third largest European ETF provider by net new assets, with EUR 1.7bn net inflows. Despite challenging market conditions, 2011 was a positive year for Amundi ETF with the extension of its range to over 100 products, which led to growth of 22% in assets under management on 2010 figures.
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Source: IFA Online
db X-trackers listet ersten ETF auf S&P 500® Equal Weight Index und ETF auf österreichischen Markt
25. Januar 2012--db X-trackers, Deutsche Bank Exchange Traded Funds (ETFs), hat heute den ersten ETF an der Deutschen Börse auf den S&P 500® Equal Weight Index gelistet. Der S&P 500® Equal Weight Index bildet die Entwicklung der 500 größten Unternehmen des US-Aktienmarktes ab, die an den Börsen NYSE Euronext oder Nasdaq OMX gelistet sind. Jedoch sind beim Equal Weight Index alle Bestandteile annähernd gleich gewichtet.
Dagegen werden beim traditionellen S&P 500® Index die Indexmitglieder analog ihrer Marktkapitalisierung gewichtet. Beispielsweise weisen die größten Mitglieder, der Elektronikkonzern Apple und das Energieunternehmen Exxon Mobil, eine Gewichtung von 3,4 beziehungsweise 3,5 Prozent auf. Im S&P 500® Equal Weight Index sind dieselben Bestandteile wie im traditionellen S&P 500 Index enthalten, jedoch ist die Gewichtung auf jeweils 0,2 Prozent festgelegt. Beide Indizes werden von Standard & Poor's Financial Services LLC berechnet.
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Source: db X-trackers
Northern Trust (Nasdaq: NTRS) announced today that it has been selected to provide exchange traded fund (ETF) administration services to the LGIM Commodity Composite Source ETF, launched earlier this month by leading ETF provider, Source.
January 25, 2012--Northern Trust (Nasdaq: NTRS) announced today that it has been selected to provide exchange traded fund (ETF) administration services to the LGIM Commodity Composite Source ETF, launched earlier this month by leading ETF provider, Source.
The fund, which tracks the LGIM® Commodity Composite IndexTM , is designed to offer high quality, diversified exposure to commodities in a UCITS compliant ETF. The LGIM Commodity Composite Source ETF complements Source’s existing range of exchange traded commodities.
“We saw the need for a well-constructed commodity index, providing diversified exposure, at a reasonable cost and in a UCITS-compliant fund,” said Ted Hood, CEO of Source. “We partnered with Legal & General Investment Management (LGIM) to create an ETF to track this groundbreaking index, and are delighted to continue to work with Northern Trust whose specialist and proven expertise, systems and operations in the field of ETF servicing will ensure our specific requirements are met.”
European Parliament-Mixed verdict on credit rating agency reform proposals Politically motivated? Wolf Klinz (ALDE, DE), noted that the timing of publishing ratings appeared in some cases to be "politically motivated".
"Politicians are tempted to impose new regulations to push CRAs to publish information their public would like", warned Ivo Strejček (ECR, CZ). read more Eurozone private sector rebounds to growth: survey Any score in the survey of 4,500 manufacturing and services firms above 50 indicates growth, while a score below indicates contraction. The flash reading is based on about 85 percent of total replies.
"Output rose at a robust pace in Germany, which saw the largest increase for seven months, and a modest expansion (the first growth for four months) was also reported in France," Markit said in a statement.
read more EU breaks impasse on derivatives regulation
Britain wanted national supervisors to decide whether clearinghouses should have permission to operate, but agreed that the European Securities and Markets Authority (ESMA) could overrule them if it came up with a two-thirds majority among its voting members.
The deal, which paves the way for more negotiations with the European Parliament, keeps the EU on track to meet commitments on regulating the financial sector that EU officials made at G20 talks in November.
read more Build on Strengths of Europe’s Growth Model While Pursuing Reforms, Says World Bank Report The new report looks at long-term growth in Europe, paying special attention to the last two decades, and identifies what needs to be done to assure continued prosperity in the decades ahead. It assesses the six principal components of the European growth model: trade, finance, enterprise, innovation, labor, and government. Its main findings: most countries in Europe are doing well in trade and finance, many in enterprise and innovation, but few are doing well in labor and government. So Europe needs many changes to make governments and labor markets work better, fewer changes to foster innovation and productivity growth in enterprises, and fewer changes still to reform finance and trade. Stalled productivity, declining populations, and unsustainable fiscal imbalances have made many changes urgent.* view World Bank report-Golden Growth-Restoring the lustre of the European economic model If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: Northern Trust
January 24, 2012--Stepping up supervision of credit rating agencies could help to eliminate their conflicts of interest, but obliging companies to "rotate" their use of them could actually reduce competition among agencies, argued experts at a public hearing held by the Economic and Monetary Affairs Committee on Monday and Tuesday.
Rapporteur Leonardo Domenici (S&D, IT) said that Parliament should focus on sovereign debt, and boosting competition, whilst leaving the door open to setting up a European regulatory agency for credit rating agencies (CRAs). The rules governing CRAs must be reformed, because these rules "had failed", but this would "be a difficult and complex job", he added.
Source: European Parliament
January 24, 2012--Private sector activity in the eurozone rebounded to growth in January after four consecutive months of contraction, a key survey showed Tuesday, as Germany and France both expanded.
The flash reading of the purchasing managers' index (PMI), compiled by Markit research firm, for the eurozone jumped to 50.4 points from 48.3 points in December.
Source: EUBusiness
January 24, 2012--European finance ministers broke an impasse Tuesday in regulation of the multi-trillion-euro trade in over-the-counter (OTC) financial derivatives.
"An important hurdle has been crossed," said European Union markets commissioner Michel Barnier after talks ended in Brussels, referring to new rules governing disputes at a European body that supervises national markets.
Source: EUbusiness
January 24, 2012--The European growth model has been an engine for economic convergence during the past few decades and has delivered prosperity to hundreds of millions of people on the continent, says a new World Bank report “Golden Growth: Restoring the Lustre of the European Economic Model”, launched today in Brussels.
“Europe has to make adjustments to its economic model, not abandon it,” said Philippe Le Houerou, World Bank Vice President for Europe and Central Asia. “Faced with adverse debt dynamics and unfavorable demographic trends, many Europeans are calling for a ‘new growth model’. It is good that there is no complacency in Europe. But a loss of confidence can be dangerous. There are many attractive attributes of the European growth model that have led to a shared prosperity not seen before or elsewhere. These elements need to be nourished.”
Source: World Bank
