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Deutsche Börse AG and NYSE Euronext seek approval from the European Commission for planned business combination
June 29, 2011--Deutsche Börse AG and NYSE Euronext confirm that they have today formally notified their planned business combination to the European Commission’s Directorate-General for Competition, thereby triggering the formal start of the anti-trust review process in Europe.
The NYSE Euronext Board of Directors has scheduled a special meeting of shareholders on July 7, 2011 where they will ask the NYSE Euronext shareholders to vote to approve the combination with Deutsche Börse. The acceptance period during which shareholders of Deutsche Börse can tender their shares for exchange to the joint holding company of Deutsche Börse and NYSE Euronext (Alpha Beta Netherlands Holding N.V.) will end on July 13, 2011.
The combination of Deutsche Börse and NYSE Euronext creates:
a genuine transatlantic market infrastructure, positioning Europe as an equal partner to the US in leading the development and harmonization of effectively regulated capital markets;
a true, pan- EU equity stock market, with single currency trading and the deepest pool of liquidity in Europe, which thereby advances the European Commission’s vision of a single, integrated, pan EU €-denominated capital market;
significant benefit for clients and issuers thanks to increased efficiencies and reduced costs from opportunities for post-trade harmonization.
the premier global exchange, allowing Europe to strengthen and solidify its role as one of the world’s most important financial centers now and into the future.
Business tightens up on risk control
June 29, 2011--One in 10 global companies has spent more than $250m on improving their risk management over the past two years, and half of all companies have spent more than $25m, according to a twice yearly report on nearly 400 groups by Accenture.
Rocked by the financial crisis, many companies told the consultancy they had sharply stepped up their spending and the amount of board time and energy they devoted to risk management.
LSE calls off merger with TMX Group
June 29, 2011-The London Stock Exchange’s hopes of securing its future as part of a transatlantic deal with TMX Group evaporated last night after the UK bourse withdrew its merger plan having failed to secure enough support from shareholders of its Canadian peer.
The withdrawal is a serious setback to Xavier Rolet, the French chief executive of the LSE, and might put the exchange in play as a potential bid target.
The LSE’s share price has risen by 15 per cent since mid-May amid speculation that it might be taken over, with Nasdaq OMX of the US topping the list of potential predators.
Oil rallies on reappraisal of IEA move
June 29, 2011--Oil prices rallied more than $3 a barrel on Wednesday, recovering all the losses triggered by last week’s decision by rich consuming nations to release strategic oil stocks.
Brent crude, the global benchmark, jumped to a peak of $112.48 a barrel, the highest since last Thursday, when the International Energy Agency announced its members would sell 60m barrels of oil, the third co-ordinated sale from the reserves in the organisation’s history.
EU examines NYSE, Deutsche Boerse merger
June 29, 2011--European antitrust authorities launched Wednesday their examination of a merger between NYSE Euronext and Deutsche Boerse, a deal that would create the world's biggest stock exchange
The office of European competition commissioner Joaquin Almunia confirmed receiving the merger plans and said the preliminary probe would close by August 4.
Brussels must decide whether to authorise the operation, possibly with conditions attached to it, or launch a deeper investigation that could last several months.
The Dow Jones-UBS Commodity Index June 2011 Performance Report
June 28, 2011--The Dow Jones-UBS Commodity Index was down 6.62% for the month of June. The Dow Jones-UBS Single Commodity Indexes for sugar, feeder cattle and orange juice had the
strongest gains with month-to-date returns of 16.88%, 11.44%, and 7.84%, respectively. The three most
significant downside performing single commodity indexes were wheat, cotton and crude oil, which were down 19.58%, 13.56%, and 11.65% respectively, in June.
Year to date, the Dow Jones-UBS Commodity Index is down 4.24% with the Dow Jones-UBS Orange Juice Sub-Index posting the highest gain of 24.41% so far in 2011. Dow Jones-UBS Wheat Sub-Index has has the most significant downside YTD performance, down 26.83%.
June 2011 “Market’s Measure” Preliminary Report - A Monthly Report From Dow Jones Indexes On The Performance Of U.S., European, Asia And Other Global Stock Market Indexes
Dow Jones Industrial Average Posts 4.19%Loss in June, European Stocks Lose 6.31%, Asia Falls 4.97% and World Equities Fall by 5.16%
Utilities Sector Posts Biggest Gain for June in Asia
Financials Sector Takes the Hardest Hit for June in Europe
June 28, 2011--As of June 27, the Dow Jones Industrial Average fell 4.19% in June,closing at 12043.56. Stock market indexes in Europe, Asia and globally were down in June, according to preliminary monthly figures from global index provider, Dow Jones Indexes.
The Dow Jones Industrial Average fell 4.19% in June, closing at 12043.56. Year-to-date, the
index is up 4.03%.
The Dow Jones Europe Titans 80 Index is down 6.31% for June, closing at 1544.29. Year-todate, the index is up 2.10%.
The Dow Jones Eurozone Titans 80 Index is down 5.35% for June, closing at 1564.32. Yearto- date, the index is up 3.84%.
The Dow Jones Asian Titans 50 Index fell 4.97% in June to 133.42. So far this year, the index is down 8.43%.
The Dow Jones Global Titans 50 Index fell 5.16% in June, closing at 177.79. Year-to-date, the index is up 0.39%.
The Dow Jones-UBS Commodity Indexes’ Industry Commentary June 2011
June 28, 2011--This commentary is a monthly analysis of the commodities universe written by Christine Marie Nielsen, a veteran financial journalist. For eight years, Ms. Nielsen covered the Chicago futures exchange and economic news for Dow Jones Newswires.
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MSCI and BlackRock to partner on controversial weapons index funds as MSCI unveils new range
Index house unveils its revised ESG benchmarks.
June 28, 2011--MSCI, the global index house, and BlackRock, the world’s biggest asset manager, will partner next month for the launch of a series of new index funds that disbar investments in controversial weapons.
The move comes as MSCI unveils a newly branded range of 25 ESG indices that update and revise the 23 KLD indices that MSCI acquired as part of its $1.55bn acquisition of RiskMetrics last year. The passive funds will be run by Blackrock and be based on a new range of nine MSCI Global ex Controversial Weapons indices. These include country and regional benchmarks that avoid investments in cluster bombs, landmines, chemical, biological, and depleted uranium weapons.
Institutional Investors had $1.1 trillion in Hedge Funds in Q1
June 28, 2011--Pensions & Investments Online reports: Institutional investors globally had about $1.1 trillion invested in hedge funds at the end of the first quarter, according to new research released Monday by Citi Prime Finance.
Institutions such as pension funds, endowments, foundations and sovereign wealth funds accounted for roughly half of total hedge fund assets managed globally as of March 31, Citi researchers found.