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D Börse staff urge rejection of takeover
May 11, 2011--Deutsche Börse’s employee representatives have urged shareholders to reject the stock exchange operator’s takeover proposal for NYSE Euronext, reflecting worries about job cuts in the wake of a merger.
The works council, which represents the German stock market group’s employees, called on shareholders to vote against the proposed offer.
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Source: FT,com
Pace of UK Growth Under Threat
May 10, 2011--Britain's economy is unlikely to grow as fast as before the financial crisis because its most productive sectors have been hardest hit, jeopardising government plans to cut the deficit.
A Financial Times analysis of the sectorial performance of the economy before and after the crash highlights how much banks and insurance companies boosted economic growth between 2000 and 2008.
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Source: CNBC
Europe close to compromise deal on swaps ban
May 11, 2011--The prospect of Europe imposing a permanent ban on trading in “uncovered” credit default swaps on sovereign debt has receded after senior diplomats threw their weight behind a compromise on how new short-selling rules should work.
Under a deal likely to be endorsed by European Union finance ministers next week, naked short-selling of cash government bonds would be banned.
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Source: FT.com
Restructuring Greek debt risks devastation: Commission
May 11, 2011-- The European Union economic affairs chief warned Wednesday that restructuring Greece's massive debt would have devastating consequences for the country and the eurozone as a whole.
Amid growing fears the EU may have to rescue Greece for a second time, European economy commissioner Olli Rehn said a "large part" of the Greek banking system would likely "become insolvent" if the national debt was restructured.
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Source: EUbusiness
Ireland expects economic rebound to start this year
May 10, 2011--Ireland's debt-stricken economy will start to rebound this year after three years of recession, Finance Minister Michael Noonan said Tuesday as he announced a series of job creation initiatives.
"The economy has seen three successive years of declining economic activity. Between 2007 and 2010 the volume of goods and services produced in Ireland fell by 12 percent," Noonan told parliament.
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Source: EUbusiness
Four new ETFs from ETF Securities launched on Xetra
First ETF on the volatility index EURO STOXX 50
May 10, 2011-- Four new ETFs issued by ETFX Fund Company plc have been tradable in Deutsche Börse’s XTF segment since Tuesday. For the first time, this enables investors to invest in the implied volatility of European blue chip equities with an ETF. Two further ETFX ETFs track the performance of companies in the infrastructure sector around the world and in emerging markets.
ETF name: ETFX-BofAML IVSTOXX ETF
Asset class: volatility
ISIN: DE000A1H81B1
Management fee: 0.80 percent
Distribution policy: non-distributing
Benchmark: EURO STOXX 50 Investable Volatility Index
ETF name: ETFX Dow Jones Brookfield Global Infrastructure
Asset class: equity index ETF
ISIN: DE000A1H8092
Management fee: 0.60 percent
Distribution policy: non-distributing
Benchmark: Dow Jones Brookfield Global Infrastructure Index
ETF name: ETFX Dow Jones Brookfield Emerging Markets Infrastructure
Asset class: equity index ETF
ISIN: DE000A1H8084
Management fee: 0.65 percent
Distribution policy: non-distributing
Benchmark: Dow Jones Brookfield Emerging Markets Infrastructure Index
ETF name: ETFX Dow Jones Global Select Dividend Fund
Asset class: equity index ETF
ISIN: DE000A1H81A3
Management fee: 0.50 percent
Distribution policy: non-distributing
Benchmark: Dow Jones Global Select Dividend Index
The ETFX-BofAML IVSTOXX ETF enables investors to participate for the first time in the performance of the EURO STOXX 50 Investable Volatility Index. This tracks the implied 3-month volatility of the EURO STOXX 50 – a blue-chip index containing the 50 largest equities in the euro zone.
With ETFX Dow Jones Brookfield Global Infrastructure and ETFX Dow Jones Brookfield Emerging Markets Infrastructure, investors can participate for the first time in the performance of the Dow Jones Brookfield Infrastructure index series. This contains companies that own and operate infrastructure assets. The index only includes companies which derive over 70% of their expected cash flow from the infrastructure sector, e.g. airports, communications or water. Depending on the ETF, the investment universe has a global or emerging-market focus.
The ETFX Dow Jones Global Select Dividend Fund enables investors to participate in the performance of the Dow Jones Global Select Dividend Index. The index consists of 100 equities with particularly high dividend distributions. To further strengthen the dividend orientation of the index, equities are weighted according to their dividends and not their market capitalisation.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 793 exchange-listed index funds, making it the largest offering of all European stock exchanges. This selection, together with an average monthly trading volume of €13 billion, makes Xetra Europe’s leading trading venue for ETFs.
Source: Deutsche Börse
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
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