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Istanbul Stock Exchange starts calculating dividend indices
June 24, 2011--The Istanbul Stock Exchange (ISE) will start calculating the ISE Dividend Index and the ISE Dividend 25 Index as of July 1, 2011.
The ISE Dividend Index will be constituted of companies;
o Having made profits in the last three annual financial statements,
Having distributed cash dividends for such periods,
Having made profits in the 12-month period preceding the date of the last financial statement,
The ISE Dividend 25 Index will be constituted of 25 companies with highest free float market capitalization selected among the companies ranking in the first 2/3 echelon of the ISE Dividend Index constituents having the highest dividend yield as of the review date.
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Source: Istanbul Stock Exchange (ISE)
Banks face deadline to rerun EU stress tests
June 24, 2011--European banks have until Friday to rerun their data for newly toughened European Union-wide stress tests that require them to be prepared for additional losses on sovereign bonds.
The European Banking Authority plans in mid-July to release results for the tests, which will assess whether 90 banks have enough capital to survive an economic and housing downturn.
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Source: FT.com
Eurozone crisis is biggest threat to UK stability: BoE
June 24, 2011-- The eurozone debt crisis represents the biggest threat to Britain's financial stability, the Bank of England's new watchdog warned on Friday.
"Sovereign and banking sector strains in some peripheral euro-area economies are the most material and immediate threat to UK financial stability," said the minutes from the first meeting of the BoE's Financial Policy Committee (FPC).
It added: "Market concerns remain over fiscal positions in a number of euro-area countries and the potential for contagion to banking systems.
Source: EUbusiness
Ten days to save the euro as EU puts its faith in Athens
June 24, 2011-- The EU has 10 days to save the euro and prevent any harm to the world economy after putting its faith in Athens to make good on a vow to impose even more unpopular austerity measures on a restive people.
An initial bounce for the euro when EU leaders agreed to grant debt-stricken Greece a second bailout in little over a year faded swiftly as markets looked beyond Thursday's EU pledge to do "whatever necessary" to shield the currency.
The creaking symbol of European unity is caught in the biggest challenge of its short life, after a series of bailouts and no guarantees that another one will finally tame the debt crisis threatening to torpedo the eurozone dream.
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Source: EUbusiness
ESMA -Publication of an Accepted Market Practice on Liquidity agreements
June 23, 2011--This AMP was accepted by the Dutch Ministry of Finance on 4 may 2011.
view the ACCEPTED MAREKT PRACTICE ON LIQUIDITY AGREEMENTS
Source: ESMA
IMF raises alarm over Spain
June 22, 2011-- The IMF warned on Tuesday of "considerable" risks to Spain's battered economy, saying the authorities had responded robustly to the serious challenges but repairs were incomplete
Spain faced grave economic risks if it failed to crack down harder on spending, shake up the financial sector and loosen up the labour market, the International Monetary Fund said.
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Source: FIN24
Euro-securities will be explored: Rehn
June 22, 2011--- The European Commission has agreed to examine possible legislation to create bonds issued directly at eurozone level, EU economy commissioner Olli Rehn told the European Parliament on Wednesday.
"You have got a commitment from the commission to do a study on euro-securities within six months of the entry into force of the legislation," he said, referring to new laws aimed at reinforcing cross-border eurozone economic governance.
Legislation intended to punish countries which fail to meet common EU macro-economic targets consistently will be voted on by the European Parliament on Thursday.
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Source: EUbusines
BlackRock ETF Landscape: STOXX Europe 600 Sector ETF Net Flows - Week Ending 17-Jun-2011
June 22, 2011--For the week ending 17 June 2011, there were US$83.2 Mn net outflows from STOXX Europe 600 sector ETFs. The largest sector ETF net outflows last week were in healthcare with US$86.2 Mn followed by oil and gas with US$64.4 Mn net outflows while industrial goods and services experienced net inflows of US$67.3 Mn.
Year to date, STOXX Europe 600 sector ETFs have seen US$4.6 Mn net inflows. Banks has seen the largest net inflows with US$268.4 Mn, followed by healthcare with US$218.9 Mn net inflows while basic resources experienced the largest net outflows with US$190.5 Mn.
As of 17 June 2011, there is US$9.9 Bn AUM invested in the STOXX sector ETFs which is greater than the US$5.2 Bn open interest in the sector futures. The ETF AUM is greater than the open interest in the corresponding futures contract in 16 out of 19 sectors..
to request report
Source: Global ETF Research & Implementation Strategy Team, BlackRock
Eurozone members will not let euro fail: Britain
June 21, 2011--- Countries in the eurozone have an enormous amount invested in the single currency and will not let the Greek crisis bring it down, British Prime Minister David Cameron said on Tuesday.
"The countries that joined the euro have an enormous amount invested in it and do not want it to, and will not let it, fail," he told reporters in London.
"They see it as an absolutely key part now of their national interest and identities and I would not doubt their resolve in any way."
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Source: EUbusiness
Euro area investment fund statistics
June 21, 2011--In April 2011, the amount outstanding of shares/units issued by euro area investment funds other than money
market funds was EUR 34 billion higher than in March 2011. This increase was due mainly to net issues of
shares/units.
The amount outstanding of shares/units issued by euro area investment funds other than money market funds increased to EUR 5,790 billion in April 2011, from EUR 5,756 billion in March
2011. Over the same period, the amount outstanding of shares/units issued by euro area money market funds decreased to EUR 1,071 billion from EUR 1,077 billion.
Transactions1 in shares/units issued by euro area investment funds other than money market funds amounted to EUR 26 billion in April 2011, while transactions in shares/units issued by money market funds amounted to EUR 6 billion.
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Source: ECB
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