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Turnover on Xetra up 17 Percent in November
17.8 million trades executed on Xetra/ Total volume of 130.7 billion euros traded on all stock exchanges in Germany
December 1, 2010--In November, 113.6 billion euros were traded on Xetra and on the floor at Börse Frankfurt – an increase of 18 percent year-on-year (November 2009: 96.5 billion euros). Of the 113.6 billion euros, 106.0 billion euros were traded on Xetra, an increase of 17 percent year-on-year (November 2009: 90.5 billion euros). 7.6 billion euros were traded on the floor, an increase by 27 percent (November 2009: 6.0 billion euros).
Turnover in German equities on Deutsche Börse’s cash markets amounted to 90.6 billion euros, while foreign equities turnover stood at 3.8 billion euros. Xetra and the floor at Börse Frankfurt accounted for 97 percent of the transaction volume in German equities on all stock exchanges in Germany. 79 percent of foreign equities traded on stock exchanges in Germany were traded on Xetra and on the floor in Frankfurt.
In November, 17.8 million transactions were executed on Xetra, an increase of 36 percent against the same period last year (November 2009: 13.1 million).
According to the Xetra liquidity measure (XLM), Siemens AG was the most liquid DAX blue chip in November with 5.01 basis points (bp) for an order volume of 100,000 euros. Deutsche Postbank AG was the most liquid MDAX stock with 13.59 bp. The most liquid ETF was DB X-TR.II-EONIA T.R. 1C with 0.33 bp. The most liquid foreign stock was Nokia Corp. with 10.31 bp. XLM measures liquidity in electronic securities trading on the basis of the implicit transaction costs. It is expressed in basis points (1 bp = 0.01 percent); a low XLM denotes high liquidity in a security.
Deutsche Bank AG was the DAX stock with the highest turnover on Xetra in November at 7.2 billion euros. Lanxess AG was the top MDAX stock at 832.7 million euros, while Balda AG led the SDAX stocks at 105.3 million euros and Aixtron AG headed the TecDAX at 544.5 million euros. At 1.5 billion euros, the iShares DAX was the exchange-traded fund with the highest turnover.
On all stock exchanges in Germany 130.7 billion euros were traded in November according to order book turnover statistics – an increase of 21 percent compared year-on-year (November 2009: 108.0 billion euros).
Source: Eurex
Europe 'determined' to defend euro: Lagarde
December 1, 2010--France's Finance Minister Christine Lagarde said on Wednesday that European states are determined both to defend the euro and to reassure markets over their planned permanent bail-out fund.
"The Europeans -- and I think we demonstrated this well on Sunday by day and by night -- are obviously united, determined and engaged in defending their currency and their single monetary zone," Lagarde told reporters.
On Sunday, EU finance ministers agreed an emergency loan package to see Ireland through its debt crisis and on a permanent bail-out mechanism to protect other eurozone economies against future shocks.
read more
Source: EUbusiness
December 2010: db x-trackers launches 10 more ETF in Spain.
December 1, 2010--Deutsche Bank’s exchange-traded funds (ETF) platform, db x-trackers, has broadened its presence in Spain with the launch of 10 additional ETFs on the Bolsa de Madrid.
The new launch follows db x-trackers’ debut on the Spanish stock market on November 25th, and takes the total number of db x-trackers listed in Spain to 21.
“With these new listings we have given investors greater flexibility to meet their asset allocation and investment needs,” said Engracia Borque, responsible for db x-trackers ETFs in Spain.The new listings provide exposure to developed and emerging market equities, to two short indices, and to a private equity index which replicates the performance of 25 of the world’s most liquid listed private equity companies. “The risk and return characteristics of private equity are now much more accessible to investors thanks to this listing of the db x-trackers LPX MM Private Equity ETF. Private equity exposure can now be taken via a liquid, diversified and easily traded product,” said Borque.
Listing details for the new ETFs are as follows:
Fund |
ISIN |
Reuters Code |
Bloomberg Ticker |
All-in Fee |
| EURO STOXX® SELECT DIVIDEND 30 ETF | LU0292095535 |
DXD3E.MC |
DXD3E SM |
0.30% |
| STOXX® 600 BANKS SHORT DAILY ETF | LU0322249037 |
DXS7S.MC |
DXS7S SM |
0.30% |
| LPX MM® PRIVATE EQUITY ETF | LU0322250712 |
DXLPE.MC |
DXLPE SM |
0.70% |
| MSCI JAPAN TRN INDEX ETF | LU0274209740 |
DXMJP.MC |
DXMJP SM |
0.50% |
| MSCI RUSSIA CAPPED INDEX ETF | LU0322252502 |
DXMRC.MC |
DXMRC SM |
0.65% |
| STOXX® 600 ETF | LU0328475792 |
DXSX6.MC |
DXSX6 SM |
0.20% |
| MSCI WORLD TRN INDEX ETF | LU0274208692 |
DXMWO.MC |
DXMWO SM |
0.45% |
| S&P 500 INVERSE DAILY ETF | LU0322251520 |
DXSPS.MC |
DXSPS SM |
0.50% |
| MSCI MEXICO TRN INDEX ETF | LU0476289466 |
DXMEX.MC |
DXMEX SM |
0.65% |
| EURO STOXX 50® ETF | LU0380865021 |
DXESC.MC |
DXESC SM |
0.00% |
Source: db x-trackers
ETF Landscape: European STOXX 600 Sector ETF Net Flows week ending 26-Nov-10
December 1, 2010--For the week ending 26 November 2010, there were US$65.6 Mn net outflows from STOXX Europe 600 sector ETFs. The largest sector ETF net outflows last week were in insurance with US$123.7 Mn and Utilities with US$31.7 Mn while basic resources experienced net inflows of US$109.0 Mn.
Year-to-date, STOXX Europe 600 sector ETFs have seen US$476.7 Mn net inflows. Banks sector ETFs have seen the largest net inflows with US$222.2 Mn, followed by basic resources with US$85.8 Mn while food and beverage has experienced the largest net outflows of US$162.6 Mn YTD.
As of 26 November 2010, there is US$9.7 Bn AUM invested in the STOXX sector ETFs which is more than double the US$4.5 Bn open interest in the sector futures. The ETF AUM is greater than the open interest in the corresponding futures contract in 17 out of 19 sectors.
to request report
Source: Global ETF Research & Implementation Strategy Team, BlackRock
Ireland in the Spotlight
December 1, 2010--Despite the widespread media interest in the economic situation in Ireland at the moment, there has been little coverage of the segments of the Irish economy which performed extremely well during the global recession and will continue to thrive in 2011.
Ireland's ability to attract foreign direct investment (FDI) and provide a world class location for international financial services has been one of Europe's success stories with FDI in 2010 expected to reach a seven year high.
view Ireland in the Spotlight
Source: Walkers
Top 15 banks sign Code of Practice
November 30, 2010--The Government today announced that the top fifteen banks operating in the UK have adopted the Code of Practice on Taxation.
As at the 17 October 2010, only four out of the top fifteen banks had adopted the code since its introduction in 2009
The Treasury therefore asked HM Revenue & Customs (HMRC) to ensure that all the major banks signed up by the end of November 2010.
The top 15 banks that have adopted the code are:
BANK OF AMERICA/MERRILL
BARCLAYS
CITIGROUP (CITIBANK)
CREDIT SUISSE
DEUTSCHE BANK
GOLDMAN SACHS
HSBC
JP MORGAN CHASE
LLOYDS BANKING GROUP
MORGAN STANLEY
NATIONWIDE BUILDING SOCIETY
ROYAL BANK OF SCOTLAND
SANTANDER
STANDARD CHARTERED
UBS
The code of practice states:
Banks should have strong governance around tax, which is integrated into their business decision making.
view the Summary of Responses: A Code of practice on taxation for banks
Source: HM Treasury
Environmental protection is considered an investment theme by 90% of investment management professionals
November 30, 2010--In a new EDHEC-Risk Institute Publication, entitled “Adoption of Green Investing by Institutional Investors: A European Survey”, EDHEC-Risk review the concept of green investing and report the results of a European survey on investment management professionals.
One of the key results of the survey is that green investing is a significant movement in which survey respondents are heavily involved. In fact, nearly 90% of respondents consider environmental protection an investment theme and the same percentage plans to do more green investing in the future.
The results of our survey show that the most popular green theme is climate change: 81.5% of the respondents who take green investing into account are concerned with climate change. Other environmental themes such as water management, anti-pollution measures, and improvement of processes are also frequently taken into account by the majority of respondents.
We also find that investors define green investing in different ways. We focus first on the definitions and concept of sustainable development, and the results show that these may not be entirely clear for respondents. Another widely-used term for making extra-financial information an integral part of investment decision making is socially responsible investment (SRI). For a clear majority (61.9%), sustainable development and socially responsible investment are two identical concepts. Such disagreement on basic definitions may further compound the fundamental difficulty of using extra-financial information in the investment process.
view the Adoption of Green Investing by Institutional Investors: A European Survey
Source: EDHEC
Ten new Deutsche Bank ETFs to start trading on the Spanish Stock Exchange tomorrow
November 30, 2010--Ten new exchange traded funds (ETFs) issued by Deutsche Bank’s asset manager, db x-trackers, will start trading on the Spanish stock exchange tomorrow.
These issues bring the number of ETFs listed on the Spanish stock exchange to 63, thus significantly increasing the number of underlying assets available, with new European, US, Latin American and Asian equity indices.
“The listing of new Deutsche Bank’s exchange traded funds on the Spanish stock exchange is a major step forward in the development of this product in Spain. We are very pleased that the number of ETFs on the stock exchange has grown 50% in a few days. We are working to bring more issuers and ETFs to the Spanish market”, said Beatriz Alonso, Deputy Equity Director.
New ETFs listed on the Spanish stock exchange:
db x-trackers DJ STOXX 600 BANKS ETF
db x-trackers DJ STOXX 600 ETF
db x-trackers DJ EURO STOXX SELECT DIVIDEND 30 ETF
db x-trackers DJ EURO STOXX 50 ETF
db x-trackers DJ STOXX 600 BANKS SHORT DAILY ETF
db x-trackers LPX MM PRIVATE EQUITY ETF
db x-trackers MSCI JAPAN TRN INDEX ETF
db x-trackers MSCI RUSSIA CAPPED INDEX ETF
db x-trackers MSCI MEXICO INDEX ETF
db x-trackers S&P 500 INVERSE DAILY ETF
Source: Bolsas y Mercados Españoles (BME)
Government launches growth review
November 29, 2010--The Chancellor of the Exchequer, George Osborne and Business Secretary, Vince Cable today announced a fundamental review of what all parts of Government are doing to create the best conditions for private sector growth.
Building on the action already taken by Government and outlined in the paper, ‘the path to strong, sustainable and balanced growth’, business is being invited to take part in this work which will challenge every Government department on the measures being taken to tackle barriers to growth.
The growth review will start with an intensive programme of work, based on the evidence provided by business, to report by Budget 2011. Departments will be required to present Action Plans to a Ministerial Ad-Hoc Group chaired by the Chancellor and Business Secretary, on what contribution they will make to:
reform structural barriers across the whole economy in planning, competition, trade and investment, regulation, access to finance and corporate governance
remove barriers in sectors where there are clear opportunities for growth and where Government can make a difference – construction, retail, health and life sciences, professional and business services, manufacturing and digital and creative industries
view The path to strong, sustainable and balanced growth paper
Source: HM Treasury
Euro, peripheral debt hit by contagion fears
Euro/dollar hits fresh 2-mth low
November 29, 2010--Portugal and Spain's bond yields rose sharply and the euro slumped to a two-month low on Wednesday on worries they will be the next victims of Europe's debt crisis.
Spanish and Portuguese government bond spreads to German Bunds both widened on concerns they will not prove able to see off the sort of debt and banking troubles that have pushed Ireland into seeking international aid.
read more
Source: Reuters
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