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Euro remains under pressure
May 9, 2011--The euro dropped to a three-week low against the dollar on Monday before rebounding late in New York.
The single currency had shown signs of stability early in the session, but lost ground after Standard & Poor’s lowered Greece’s sovereign credit rating lowered Greece’s sovereign credit rating and warned that further cuts were possible.
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Source: FT.com
Amundi ETF enters the UK market
May 9, 2011--Amundi ETF is bringing a competitive range of products to UK investors with 16 ETFs that can now be traded on the London Stock Exchange (“LSE”).
Building on three years’ experience in Continental Europe, Amundi ETF is extending its offering to the UK market with the launch of a range of ETFs providing exposure to regional and country equity indices. In total, around 50 ETFs will be offered in the UK over the next 3 months.
These products are some of the most competitive available to investors, being on average, 25% cheaper than their European peer group. They benefit from the use of synthetic replication to minimise both costs and tracking error. Amundi ETF is also committed to offering investors innovative products: within this first series, 7 are unprecedented on the LSE.
Amundi ETF products are backed by two of Europe’s largest banks, Crédit Agricole S.A. and Société Générale, which respectively own 75% and 25% of Amundi. With $923.2bn (€689.5 bn) in assets under management, Amundi Group is the 3rd largest asset manager in Continental Europe .
Amundi ETF began its ambitious European roll out plan in early 2010. Since then it has extended its presence from France into Germany, Switzerland, Italy, the Netherlands, and now the UK market. With this new step, Amundi ETF is increasing the total number of its listings to well over 300 .
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Source: Amundi
DB Global Equity Index & ETF Research : European ETF and ETC Product Directory, April 2011
May 9, 2011--Deutsche Bank Global Equity Index & ETF Research : European ETF and ETC Product Directory, April 2011 is now available.
This document includes all European domiciled exchange-traded funds (ETFs) and exchange-traded commodities (ETCs). The directory is organised by asset class and it has been sorted by benchmark exposure and by ETF issuer, in alphabetical order. A number of key information per product have been included in order to enable the reader to get an overview in their respective area of interest.
To request a copy of the report
Source: Deutsche Bank Global Equity Index & ETF Research
New ETFs on NYSE Euronext
May 9, 2011--NYSE Euronext is pleased to announce that HSBC has listed 2 new ETFs on NYSE Euronext’s Paris market today:
ETF name:HSBC MSCI WORLD
ETF Trading name: HSBC MSCI WORLD
ETF ISIN:IE00B4X9L533
ETF Symbol: WRD
ETF Reuters RIC: WRD.PA
ETF Bloomberg Ticker:WRD FP
Underlying index:MSCI World
TER:0,35%
ETF name:HSBC Turkey
ETF Trading name:HSBC MSCI TURKEY
ETF ISIN:IE00B5BRQB73
ETF Symbol:HTR
ETF Reuters RIC:HTR.PA
ETF Bloomberg Ticker:HTR FP
HTR.PA
Underlying index:
MSCI Turkey
TER:0,60%
Source: NYSE Euronext
New OMX Stockholm Benchmark Portfolio Selected - The New Portfolio Of The OMX Stockholm Benchmark Index Will Become Effective On June 1, 2011
May 9, 2011-- The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces today the results of the semi-annual review of the OMX Stockholm Benchmark index, (NASDAQ OMX Stockholm: OMXSB), which will become effective with the market open on Wednesday, June 1, 2011.
Addnode AB (ANOD B), Etrion Corporation (ETX), Hexagon AB (HEXA B), Höganäs AB (HOGA B), Medivir AB (MVIR B), Millicom International Cellular (MIC SDB), and Proffice AB (PROE B) will be added to the index.
CDON Group AB (CDON), Cybercom Group AB (CYBE), Enea AB (ENEA), Eniro AB (ENRO), Gunnebo AB (GUNN), Nokia Corporation (NOKI SEK), Svenska Cellulosa AB SCA ser A. (SCA A) and Swedish Orphan Biovitrum AB (SOBI) will be removed from the index
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Source: NASDAQ OMX
Italy: Deeper structural reforms, fiscal consolidation will strengthen Italian recovery
May 9, 2011--The Italian economy is continuing to recover from the very deep recession that it shared with most OECD countries, but more can be done to boost resilience, according to a new OECD report. A combination of well-targeted macroeconomic and structural policies would help achieve sustained growth, as well as contribute to fiscal consolidation, it adds.
The OECD Economic Survey of Italy, presented today in Milan by OECD Secretary-General Angel Gurría and Italian Minister of Economy and Finance Giulio Tremonti, says the strength of the recovery is uncertain.
“Italy’s economy is recovering, and we expect that growth will be somewhat stronger next year,” Mr. Gurría said. “But we should not underestimate the task ahead. Italy must take additional steps to make growth more robust and boost its resilience to future shocks.”
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Source: OECD
Monthly market report - April 2011
May 6, 2011--London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community, offering international business unrivalled access to Europe's capital markets. In April a total of 21.9 million trades were carried out across the Group's electronic equity order books with a combined value of £161.1 billion (€182.4 billion), down 13 per cent on April 2010 (£184.4 billion). The fall in both aggregate and daily volumes may be explained by an unusual holiday pattern in the UK in April 2011.
UK Equities Order Book
During the month, the average daily value traded on the UK order book was £4.4 billion (€5 billion), down 10 per cent year on year; the average daily number of trades increased six per cent to 585,111.
The LSE'S share of trading in the lit UK order book for April was 63.5 per cent.
Italian Equities Order book
On the Italian order book, the average daily number of trades was 271,738, down two per cent on the same month last year, whilst the average daily value traded on the order book decreased 13 per cent year on year to €3.3 billion (£2.9 billion).
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Source: London Stock Exchange
EU eyes compromise deal on short selling ban
May 6, 2011--A compromise deal that would ban naked short selling in Europe of cash government bonds is being looked at in Brussels and will be debated next week.
Under the proposals, the ban would be relaxed if liquidity in government bond markets was seriously affected.
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Source: FT.com
UK official holdings of international reserves, April 2011
May 5, 2011--This monthly press notice shows details of movements in April 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 April 2011:
No intervention operations were undertaken.
Movements in reserves and levels of reserves were as follows:
view report
Source: HM Treasury
RBS crisis report: Knight and Walker to conduct review
May 5, 2011--Lawyer Bill Knight and City grandee Sir David Walker appointed to help scrutinise Financial Services Authority report into what went wrong at bank before it was rescued by government.
A Financial Services Authority report into what went wrong at Royal Bank of Scotland before the £45bn taxpayer bailout is facing further delay after leading lawyer Bill Knight and City grandee Sir David Walker were drafted into help scrutinise the document.
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Source: Guardian.co.uk
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