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Implications of the Japanese nuclear disaster: An ESG research perspective
March 31, 2011--Along with its tragic human and environmental toll, the ongoing nuclear crisis in Japan could also curtail a much-anticipated global “nuclear renaissance.”
The United States, with 104 operating reactors and the most nuclear capacity, and Europe, with 143 reactors in 27 countries, now plan extensive reviews of their nuclear plants and disaster preparedness. China, with 11 operating reactors, has also suspended approval of more than two dozen planned reactors.
This may give a boost to competing low-carbon generating sources, such as natural gas and renewable energy. MSCI’s Global Alternative Energy Index recorded a 10.1 percent gain in the first 10 days after Japan’s nuclear crisis began.
Index giant, Vanguard, leads SRI fund sales at year start
March 31, 2011--Vanguard, the US index fund giant, leapt to become the biggest seller of European SRI retail funds during the first month of 2011 in a tough month for the sector as a whole, according to the latest available figures compiled for Responsible Investor by Lipper FMI, the investment data group.
The sector for ‘RI screened’ funds, as they are labelled by Lipper FMI, which have undergone an ‘extra-financial’ ESG (environment, social and governance) screen in their stock selection process, was hit by total losses of €742m in January, compared with inflows of €623.8m in December, 2010. The best selling RI Screened fund for the month was Vanguard’s SRI European Stock fund, which netted €225.4m.
ETFS Inaugural Precious Metals Weekly: Gold/Silver Ratio Hits 27 Year Low
March 30, 2011-Gold/Silver Ratio Hits 27Year Low
Spreading unrest in the Middle East and growing sovereign debt
concerns in Europe push gold price to new all time high of $1,447/oz.
Silver price hits 31-year high as its store of value characteristics and
links to the global manufacturing cycle push demand and prices higher.
Gold/Silver ratio falls to lowest level since September 1983.
Platinum group metals steady after post-Japan Earthquake correction as
investors’ look through near-term supply-chain disruptions.
Gold hit an all-time high of $1,447/oz late last week.
Spreading Middle East and North Africa (MENA) unrest has increased concerns about worst case scenarios and the impact higher oil prices may have on inflation and growth, driving up demand for risk and inflation hedges. European debt concerns are also on the rise, with Portuguese bond yields reaching Euro-era highs as Prime Minister Socrates resigned on the back of opposition to his government's proposed fiscal tightening measures. German Chancellor Merkel's loss of key regional elections over the weekend has reduced her government's ability to support programs to ease the pain of Europe's more fiscally-challenged countries, potentially raising structural risks to the Euro. Global gold exchange traded products (ETPs) have seen 1.2mn oz ($3.9bn) of inflows over the past month, recouping approximately 25% of outflows seen over the first six weeks of 2011. US Money Fund Exposure to European Banks Preliminary Report: A Monthly Report From Dow Jones Indexes On The Performance Of U.S., European, Asia And Other Global Stock Market Indexes March 2011 “Islamic Market’s Measure” Preliminary Report: Monthly Report On The Performance Of The Dow Jones Islamic Market Indexes OECD annual inflation accelerates to 2.4% in February 2011
Excluding food and energy, the annual inflation rate was stable at 1.3 % in February 2011. Our future: A golden age for natural gas? The International Energy Agency (IEA) estimates that global recoverable gas resources, which will last around 130 years based on current consumption rates, could double if the potential of ‘unconventional’ gas is realised. IMF queries derivatives reform effectiveness March 2011 Commentary And Report - Dow Jones-UBS Commodity Indexes: Up Slightly As Focus Centers On Geopolitical Issues, Technical Factors
March 30, 2011--Market sentiment on European sovereigns that have experienced heightened investor concern
continues to affect the perceived credit risk of financial institutions in those countries. An important funding channel for European financial institutions and, therefore, a potential channel for eurozone sovereign risk, is U.S. prime money market funds (MMFs), which continue to have sizable exposures to European financial institutions.
This report updates Fitch Ratings’ prior research on this topic (see December 2010 study, “U.S. Money Market Funds: Recent Trends in Exposure to European Banks”) as of end-February 2011 and focuses on MMF exposures to banks’ certificates of deposit (CDs), commercial paper (CP), asset-backed CP (ABCP), and, new for this report, repurchase agreements (repos).
March 30, 2011--Dow Jones Industrial Average Posts 0.23% Loss In March, European Stocks Lose 1.36%, Asia Falls 5.31% And World Equities Fall By 1.95% - Oil & Gas Sector Posts Biggest Gain For March In Asia - Utilities Sector Takes The Hardest Hit For March In Asia & Worldwide
As of March 28, the Dow Jones Industrial Average fell 0.23% in March, closing at 12197.88. Stock market indexes in Europe
Asia and globally were down in March, according to preliminary monthly figures from global index provider, Dow Jones Indexes
March 30, 2011--Based on the close of trading on March 29 the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, dropped 1.22% month-to-date, closing at 2313.44.
In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a loss of 1.80%, closing at 184.04.
March 30, 2011--Consumer prices in the OECD area rose by 2.4% in the year to February 2011, compared with 2.2% in January – the highest rate since October 2008.
This increase was again driven by food and energy inflation which accelerated to 3.0% and 10.1% respectively in February, compared with 2.6% and 8.4% in January.
IEA analysis looks at the rapid growth in supply of 'unconventional' gas and liquefied natural gas
March 29, 2011-Back in 2006, a handful of energy experts met on the fringes of the World Gas Conference to discuss the challenges of increasing output of 'unconventional' gas. Three years later the same subject was discussed at the same event, but this time the speakers found themselves at the heart of the conference and with a capacity crowd to contend with.
This transition of interest in ‘unconventional’ sources of gas, which are trapped deep underground by impermeable rocks, such as coal, sandstone and shale, is the result of recent astonishing growth in production in the US – mainly (but by no means exclusively) from shale deposits – where output has trebled between 2007 and 2010. The knock-on effect of this discovery has rippled throughout the world, with other countries, such as Australia, Canada, China and Poland investigating and developing their own resources.
March 29, 2011--New regulations aiming to reform the vast derivatives markets may fail to remove systemic risks or prevent the need for another taxpayer bail-out of the financial system, according to a research paper published by the International Monetary Fund.
The reforms, which shift derivatives to clearing houses in an effort to dilute the impact of a default of a large dealer, could result in more risks for the financial system and alternative policies such as a tax on banks’ derivatives liabilities should be considered, the IMF paper said.
March 28, 2011--The Dow Jones-UBS Commodity Index was up 1.56% for the month of March. The Dow Jones-UBS Single Commodity Indexes for Silver, Natural Gas and Cotton had the strongest gains with month-to-date returns of 9.55%, 9.25%, and 6.93%, respectively.
The three most significant downside performing single commodity indexes were Cocoa, Wheat and Orange Juice, which were down 12.26%, 10.25%, and 6.99% respectively, in March.