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EPEX Spot / EEX Power Derivatives: Power Trading Results in May
June 7, 2010--In the framework of their cooperation, the European Energy Exchange AG (EEX) and the French Powernext SA integrated their Power Spot
and Derivatives Markets in 2009.
In May 2010, a total volume of 151.5 TWh was traded on the joint subsidiaries EPEX
Spot SE and EEX Power Derivatives.
In May, a total of 966,374 MWh was traded on the Intraday market:
Germany 893,431 MWh, same month of the previous year 382,093 MWh
France 72,943 MWh, same month of the previous year 62,278 MWh
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Source: European Energy Exchange AG (EEX)
Euro finance chiefs 'sign' deal for bailout fund
June 7, 2010-- Euro finance ministers fixed an unprecedented 440-billion-euro fund to dig debt-laden partners out of the mire, pressured by a dizzying fall for the single currency on Monday.
"We signed a few moments ago," said Luxembourg Prime Minister Jean-Claude Juncker, after world stocks plummeted on market anxiety that non-euro Hungary was entering a Greece-style meltdown in its public finances.
Juncker, who chairs the Eurogroup of finance ministers, said "some member states," namely Belgium and Slovakia, had still to ratify but a diplomat stressed that Germany had put pen to paper on the facility worth 525 billion dollars.
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Source: EUbusiness
EU agrees to create new budget sanctions
June 7, 2010-- EU finance ministers agreed on Monday to design new sanctions that will allow partners to intervene before countries become too laden down by debt, EU president Herman Van Rompuy said.
In the first conclusions of a task force set up by all 27 national leaders to coordinate better economic governance across the world's biggest trading bloc, they also agreed to the principle that national budgets should be shown to European partners before they are fixed back home.
The move stems from concerns over Europe's debt crisis, which has forced eurozone governments and even EU partners, albeit to a much lesser extent, to cough up funds to bail out first Greece and now all struggling eurozone nations.
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Source: EUbusiness
EU greenhouse gas emissions: more than half way to the '20 % target by 2020'
June 4, 2010--The European Union's greenhouse gas (GHG) inventory report, compiled by the European Environment Agency (EEA), shows that emissions have not only continued their downward trend in 2008, but have also picked up pace. The EU-27's emissions stood 11.3 % below their 1990 levels, while EU-15 achieved a reduction of 6.9 % compared to Kyoto base-year levels.
'The GHG inventory report shows that the EU is well on track to meet its emission reduction targets with domestic policy measures only. Our policies and tools seem to be working' said Professor Jacqueline McGlade, Executive Director of the EEA. 'Although we are expecting an even sharper decline in 2009, caused mainly by the recession, we need to ensure that the downward trend in emissions continues and that Europe boosts its climate investments, with the ultimate aim of achieving a more resource-efficient economy.'
The combination of high coal and carbon prices accompanied by a drop in natural gas prices in 2008 induced heat and electricity producers to replace more polluting coal by gas and as a result, reduce their GHG emissions. The use of biomass and other renewable sources (wind and hydroelectric power) has also increased significantly in 2008. The economic recession, which started during the second half of the year, also contributed to emission reductions from several sectors including the manufacturing and construction, and road transport sectors. Road transport emissions were also affected by high oil prices, the continued decline in gasoline consumption and a reversal of the upward trend in diesel sales.
view the Annual European Union greenhouse gas inventory 1990 – 2008 and inventory report 2010
Source: European Environment Agency (EEA),
Basic resources ETF rallies 11 per cent
June 4, 2010--Basic resource related exchange-traded funds in basic resources, steel and coal saw a sharp jump in returns of between four per cent and 11 per cent last week as equity markets rebounded, breaking several weeks of successive falls.
The report by ETF Securities shows that 2x long equity ETFs all posted strong gains last week on the snap back in global equities, led by a six per cent rise in the ETFX CAC 40 2x Long Fund.
Stronger growth, employment and housing data in the US, coupled with speculation that Chinese authorities may pare back tightening measures in the face of a more uncertain EU growth outlook helped markets look past ongoing uncertainties in debt and fiscal outlook for European economies.
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Source: ETF Express
Deutsche Börse: HeidelbergCement replaces Salzgitter in DAX
HeidelbergCement replaces Salzgitter in DAX
Deutsche Börse reviews index composition/
Changes are effective as of 21 June 2010
June 4, 2010--On Friday, Deutsche Börse has decided on changes in its equity indices:
HeidelbergCement will be included in DAX® and will replace Salzgitter. The
inclusion was triggered by the so-called Fast Entry rule.
The company
ranked
22nd both in terms of market capitalization and stock-exchange turnover.
Salzgitter will be included in MDAX®. In addition Kabel Deutschland and Brenntag will replace Pfleiderer and MLP in MDAX. Pfleiderer, MLP as well as Tom Tailor will be included in SDAX®. VBH, Villeroy & Boch and Dyckeroff will leave the index accordingly.
All changes will take effect on 21 June 2010.
Source: Deutsche Börse
First estimates for the first quarter of 2010-Euro area and EU27 GDP up by 0.2%
+0.6% and +0.5% respectively compared with the first quarter of 2009
June 4, 2010--GDP increased by 0.2% in both the euro area1 (EA16) and the EU271 during the first quarter of 2010, compared with the previous quarter, according to first estimates released by Eurostat, the statistical office of the European Union. In the fourth quarter of 2009, growth rates were +0.1% in the euro area and +0.2% in the EU27.
Compared with the first quarter of 2009, seasonally adjusted GDP increased by 0.6% in the euro area and by 0.5% in the EU27, after -2.1% and -2.3% respectively for the previous quarter.
Variation in components of GDP
During the first quarter of 2010, household2 final consumption expenditure fell by 0.1% in the euro area and by 0.2% in the EU27 (after +0.2% in both zones in the previous quarter). Investments decreased by 1.1% in the euro area and by 1.2% in the EU27 (after -1.3% and -1.6% respectively). Exports increased by 2.5% in the euro area and by 2.3% in the EU27 (after +1.7% and +1.9%). Imports increased by 4.0% in the euro area and by 3.4% in the EU27 (after +1.2% and +1.6%).
US and Japanese GDP
In the United States GDP increased by 0.8% during the first quarter of 2010, after +1.4% in the fourth quarter of 2009. In Japan GDP increased by 1.2% in the first quarter of 2010, after +1.0% in the previous quarter.
Compared with the first quarter of 2009, GDP increased by 2.5% in the United States (after +0.1% in the previous quarter) and by 4.2% in Japan (after -1.4%).
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Source: Eurostat
NASDAQ OMX Nordic: Semi-Annual Review Of OMX Copenhagen 20 Index
June 3, 2010--The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announced today the result of the semi-annual review of the OMX Copenhagen 20 Index (NASDAQ OMX Copenhagen: OMXC20), which will become effective with the market open on Monday, June 21, 2010.
As a result of the re-ranking NASDAQ OMX will add Coloplast to the OMXC20 Index and remove Genmab.
The OMXC20 Index is the NASDAQ OMX Copenhagen's tradable index. It was introduced July 3, 1989 as an underlying instrument for futures and options. The OMXC20 Index has a base value of 100 and is weighted in terms of free floated market value. CESR Publishes Responses Received To The Consultation On CESR’s Guidelines On Risk Measurement And The Calculation Of Global Exposure And Counterparty Risk For UCITS Hedge funds now regularly trading in European sector ETFs
This represented 76 per cent of Cascade’s reported European sector activity, dwarfing the turnover on competing products. read more If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
Source: Mondovisione
June 3, 2010--CESR has published Responses Received To The Consultation On CESR’s Guidelines On Risk Measurement And The Calculation Of Global Exposure And Counterparty Risk For UCITS.
view responses
Source: CESR
June 3, 2010--Source says the use of sector exchange-traded funds by hedge funds now represents a meaningful slice of overall sector investing in Europe.
The London based ETF provider says total turnover on its European sector ETFs reached EUR5.9bn in April, according to Cascade, Clearstream’s German settlement system.
Source: ETF Express
