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Boerse Stuttgart's Bondm segment for medium-sized enterprises
Launch of new index for bonds issued by medium-sized enterprises
Increasing transparency in the stock exchange market for bonds of medium-sized enterprises/ index calculated and published minute by minute
August 31, 2011--Boerse Stuttgart is to launch an index for the Bondm trading segment on 1 September 2011. The easily replicable index will track the performance of the 18 corporate bonds listed and traded in Boerse Stuttgart's Bondm segment for medium-sized enterprises.
This makes the Bondm index Germany's first trend and market indicator for the bond issues of medium-sized enterprises. The index will be calculated as a pure performance index. This means that coupon payments will be reinvested in the index. Boerse Stuttgart's partner in implementing and calculating the index will be Structured Solutions AG, based in Frankfurt/Main.
"With the new Bondm index we will bring additional transparency to the stock exchange market for the bonds of medium-sized enterprises. As a meaningful benchmark, the index will allow investors to compare the performance of individual bonds directly with the leading trading segment, Bondm, and to measure the investment success of the entire Bondm segment," says Christoph Lammersdorf, CEO of Boerse Stuttgart Holding GmbH. The liquidity in the secondary market of the Bondm segment will also ensure an index of high quality.
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Source: Boerse Stuttgart
Commission calls for 'project' bonds, not eurobonds
August 31, 2011-- The European Commission will propose that the EU issue bonds to fund specific economic projects, but not eurobonds for overall state financing, a senior official said Wednesday.
EU financial services commissioner Michel Barnier told radio BFM that eurobonds to cover EU-wide obligations, for strong and weak members alike, were a good idea but "this is not necessarily the right time" for the hugely controversial issue.
"The European Commission will make a proposal, not for eurobonds but for 'project bonds, that is to say, bonds issued with respect to (specific) projects, investments," Barnier said
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Source: EUbusiness
Eurozone inflation stable in August at 2.5%: EU
August 31, 2011-- Inflation in the 17-nation eurozone steadied at 2.5 percent in August, remaining above the European Central Bank's threshold of 2.0 percent for the ninth month running, EU figures showed on Wednesday.
The annual rate of price rises had dropped to 2.5 percent in July compared to 2.7 percent in June, according to the European Union's Eurostat data agency. Inflation hit a 30-month peak of 2.8 percent in April.
ECB president Jean-Claude Trichet forecast on Monday that inflation in the eurozone would remain above the ECB benchmark of just under 2.0 percent in the coming months, and he warned that growth would be modest.
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Source: EUbusiness
STOXX Changes Composition Of Blue-Chip Indices
Regular Annual Review To Be Effective On September 19, 2011
August 31, 2011--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the results of the regular annual review of the STOXX Blue-Chip Indices, among them the STOXX Europe 50, EURO STOXX 50, STOXX Nordic 30 and STOXX EU Enlarged 15 indices; as well as the results of the second semi-annual review of the STOXX Eastern Europe 50 Index.
All changes will be effective with the open of European markets on September 19, 2011.
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Source: STOXX
Northern Trust-Monthly Market Review:
August 31, 2011--This month's highlights include:
Regulators warn moves to safeguard against systemic risk of OTC derivatives market could be undermined
European asset managers plan big changes to their distribution strategies according to survey
Assets in ETFs globally set to more than double by 2015 according to new report
Hedge Fund Standards Board proposes changes to its standards
M&A activity in asset management set to increase in next few months say experts
Total assets in ETFs (funds and products) globally will grow from US$1,500bn at the end of 2010 to between US$3,100bn and US$4,700bn by 2015 according to a new report from
McKinsey & Co. looking at “the second act” of ETFs. This growth, said McKinsey, will have far-reaching implications for every asset manager, regardless of whether or not they
compete currently in the ETF market. The ETF industry is transitioning into a new phase of maturity, one where targeted, differentiated products and distribution capabilities will
determine the winners and losers. The old method of claiming first-mover advantage will be replaced by a more targeted strategy, using relationships with advisors and distributors
to come up with active or specialised passive products and pricing structures. FT.com 16
August
request report
Source: Northen Trust
Recession fears weigh on euro after weak data
August 30, 2011--The euro lost ground on Tuesday as data stoked fears that the eurozone economy might be headed for recession.
The European Commission's economic sentiment index for the 17-country region fell to 98.3 in August from a revised 103.0 in July. That was below forecast and the largest one-month fall since just after the collapse of Lehman Brothers in the autumn of 2008.
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Source: CNBC
EU price forecasts to ease volatility worries
August 30, 2011--The European Commission is to move to curb speculation on commodity markets, such as grain this autumn, in an effort to reduce market volatility.
Raluca Rusu, from DG Agriculture in the European Commission, will outline what controls could be put in place at the upcoming Teagasc tillage crops forum in the Keadeen Hotel, Newbridge, on Wednesday, September 7
European Agricultural Commissioner Dacian Ciolos has announced that the EU Commission will start publishing regular updates on short-term market forecasts for cereals, oilseeds, milk, milk products and meat this autumn.
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Source: Independent.ie
Balanced budget 'golden rule' rare in Europe
August 30, 2011--All European Union member states must keep their budget deficits to a strict limit but most have failed the test and so Germany, Europe's paymaster, has laid down the gauntlet by adopting a "golden rule" on keeping the books balanced.
Under a constitutional requirement, the German government must ensure that there is no budget deficit -- the shortfall between revenues and spending -- from 2016 and France and Italy say they intend to adopt a similar rule.
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Source: EUbusiness
Eurozone economic confidence falls for sixth month
August 30, 2011--- Consumer and business confidence in the eurozone economy fell for the sixth consecutive month in August, an EU survey showed on Tuesday amid rising fears of an economic slowdown.
The decline resulted from a "broad-based deterioration in sentiment across the sectors," particularly in services, retail trade and among consumers, the European Commission said. Only the construction sector saw an improvement.
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Source: EUbusiness
EBA is worried about some European banks: report
August 30, 2011--The European Banking Authority is worried that some European banks do not have enough capital, a situation highlighted by the International Monetary Fund as well, the Financial Times Deutschland said Tuesday.
EBA head Andrea Enria has written to the Ecofin council in Brussels to ask that the European Financial Stability Facility, set up to lend to troubled eurozone countries, give money directly to troubled banks to accelerate their recapitalisation, the newspaper said.
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Source: EUbusiness
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