Global ETF News Older than One Year
November 2009 “Market’s Measure” - Preliminary Report - A Monthly Report From Dow Jones Indexes And STOXX Ltd. On The Performance Of U.S., European, Asia And Other Global Stock Market Indexes
Dow Jones Industrial Average Posts 6.38% Gain in NOVEMBER, European Stocks Gain 3.29%, Asia Rises 0.83% and World Equities Rise by 4.78%
Basic Resources Sector Posts Biggest Gain for November in Europe & Worldwide
Consumer Goods Sector Takes the Hardest Hit for November in Asia
November 20, 2009--
As of November 19 the Dow Jones Industrial Average rose 6.38% in November, closing at 10332.44. Stock market indexes in Europe, Asia and globally were up in November, according to preliminary monthly figures from global index providers, Dow Jones Indexes and STOXX Ltd.
The Dow Jones Industrial Average rose 6.38% in November, closing at 10332.44. Year-to-date, the index is up 17.73%.
Measuring Europe, the Dow Jones STOXX 50 Index is up 3.29% for November, closing at 2488.71 Year-to-date, the index is up 19.43%.
Measuring Eastern Europe, the Dow Jones STOXX EU Enlarged Total Market Index is up 3.37% for November, closing at 207.15. Year-to-date, the index is up 36.75%.
The performance of the Dow Jones STOXX EU Enlarged 15 blue-chip index is up 3.68% for November, closing at 2239.75. The index is up 36.25% so far this year.
The Dow Jones Asian Titans 50 Index rose 0.83% in November to 132.02. So far this year, the index is up 28.70%
The Dow Jones Global Titans 50 Index rose 4.78% in November, closing at 172.81. Year-to-date, the index is up 20.01%.
NOVEMBER 2009 Sector Winners and Losers
In the U.S., the Dow Jones U.S. Basic Materials Index was the biggest winner in November, posting a 11.50% gain. The Dow Jones U.S. Utilities Index posted the narrowest gain, up 2.03%.
In Europe, the Dow Jones STOXX 600 Basic Resources Index posted the biggest gain, climbing 13.50%. The Dow Jones STOXX 600 Health Care Index had the narrowest gain, up 0.77%.
In Asia, the Dow Jones Asia/Pacific Basic Materials Index posted the biggest gain, rising 4.56%. The Dow Jones Asia/Pacific Consumer Goods Index posted the biggest loss, down -1.62%.
Globally, the Dow Jones World Basic Resources Titans Index had the best performance, climbing 12.10%. The Dow Jones World Automobiles & Parts Titans Index posted the narrowest gain, up 1.61%.
The number of respondents suggesting companies use cash for capital spending has risen to 32 percent this month from 25 percent in September. The proportion asking companies to put the balance sheet first has fallen to 36 percent this month from 50 percent in September. Demands for higher dividends are muted with 22 percent asking companies to prioritise returning cash to shareholders. This was down slightly from 23 percent in October. "The last time we saw a shift towards prioritising capex ahead of balance sheet repair was in 2003, and it served as a clear buy signal for equities. It could signal the transfer of risk from equity to credit," said Gary Baker, head of European equity strategy at BofA Merrill Lynch Global Research.
This shift reflects how risk appetite among investors is tip-toeing upward. The proportion of panelists taking lower than normal risk has shrunk to a net 1 percent, down from a net 16 percent in September.
Higher risk appetite is also evident in emerging markets. "We are seeing a vivid and extreme bent towards high-beta markets, such as Russia, and movement away from lower beta markets, such as Chile and Malaysia," said Michael Hartnett.
Europeans swing out of cyclicals back to defensive stocks
While a net 22 percent of global asset allocators view Europe as the most undervalued global market, investors within Europe are wary of their region's equities. European survey respondents made substantial moves out of cyclical stocks and into defensive sectors over the past month.
More than a quarter of Europeans surveyed increased their positions in Healthcare/Pharma. A net 16 percent are overweight the sector in November, compared to a net 10 percent underweight in October. Over the same period Europeans swung to a net 5 percent underweight Technology from a net 23 overweight in October. These changes came despite more panelists predicting stronger economic growth in Europe over the coming year.
One notable factor weighing against European equities, however, is currency. A net 49 percent of the global panel view the euro as overvalued and a net 36 percent view the dollar as undervalued.
Survey of Fund Managers
A total of 218 fund managers, managing a total of US$534 billion, participated in the global survey from 6 November to 12 November. A total of 177 managers, managing US$361 billion, participated in the regional surveys. The survey was conducted by BofA Merrill Lynch Global Research with the help of market research company TNS. Through its international network in more than 50 countries, TNS provides market information services in over 80 countries to national and multi-national organizations. It is ranked as the fourth-largest market information group in the world.
SOURCE BofA Merrill Lynch Global Research
Institutions and financial advisers optimistic about alternative investments
The majority of participants to the survey said they plan to increase allocations to alternatives, but with greater scrutiny and due diligence given to those investments.
Source: ETF Express
iShares sees growing demand for sector ETFs
According to the report, 2009 net new flows into sector ETFs in Europe already total more than USD2.5bn.
Year-to-date, basic resources has been the most popular sector with USD410m in net new assets, followed by banks with USD350m.
Source: ETF Express
Asia To Play a Leading Role in Reshaping the Post-Crisis Global Economy, IMF Managing Director Dominique Strauss-Kahn Says
The strength of Asia’s economies has helped them weather the global financial crisis, and the region is leading the world into economic recovery, he said. The IMF expects Asia’s GDP growth to be 5 ¾ percent next year—almost double the 3 percent rate forecast for the global economy. “Thanks to strong fundamentals and quick and forceful policy responses to the crisis, Asia has performed considerably better than other regions of the world—and has thus played an important role in supporting global recovery,” he said.
To succeed over the long term, Asia will need to adapt to the new challenges presented by the post-crisis economy. “In particular,” he said that “because there are limits to the pace of export growth, domestic and regional demand will need to play an increasingly important role in underpinning Asia's growth.” Pointing to Asia's increasing role in international fora—including the G-20 and the IMF—Mr. Strauss-Kahn said that “now is the time for Asia to use its stronger voice to contribute to global efforts to reshape the economic and financial landscape.”
Source: International Monetary Fund (IMF)
Semi-Annual Changes to the NASDAQ Biotechnology Index
The re-ranking will result in the following eight securities being
added to the Index:
China Sky One Medical, Inc. (Nasdaq:CSKI), Hi-Tech Pharmacal Co., Inc.
(Nasdaq:HITK), Poniard Pharmaceuticals, Inc. (Nasdaq:PARD), SIGA
Technologies, Inc. (Nasdaq:SIGA), Spectrum Pharmaceuticals, Inc.
(Nasdaq:SPPI), Targacept, Inc. (Nasdaq:TRGT), Vical Incorporated
(Nasdaq:VICL), and Vanda Pharmaceuticals Inc. (Nasdaq:VNDA).
All securities are classified according to the Industry Classification
Benchmark (ICB) as either biotechnology or pharmaceutical. The
securities that meet the classification criteria then must meet other
Index eligibility criteria including listing on the NASDAQ Global
Market or the NASDAQ Global Select Market and meeting minimum
requirements for market value, average daily share volume and seasoning
as a public company. The Index is ranked on a semi-annual basis in May
and November. For more information about the NASDAQ Biotechnology
Index, including eligibility criteria, visit
https://indexes.nasdaqomx.com/.
As a result of the re-ranking, Matrixx Initiavies, Inc (Nasdaq:MTXX)
will be removed from the Index.
The NASDAQ Biotechnology Index is the basis for the iShares Nasdaq
Biotechnology Index(SM) Fund (IBB), which seeks investment results that
correspond generally to the price and yield performance, before fees
and expenses, of the NASDAQ Biotechnology Index. In addition, options
based on the NASDAQ Biotechnology Index and the iShares Nasdaq
Biotechnology Index Fund trade on various exchanges.
Source: NASDAQ OMX
November 17, 2009--Institutions and financial advisers continue to view alternative investments optimistically, despite their questionable performance, correlation and liquidity during last year’s global downturn, according to a survey by Morningstar and Barron’s.
November 17, 2009-A report from Barclays Global Investors, the parent company of iShares, has highlighted expanding investor interest in sector exchange-traded funds.
November 13, 2009--In a speech today at a conference organized by the Monetary Authority of Singapore, International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn called on Asia to play a leading role in guiding the global economy to a new, more sustainable path for global growth. “This is not only appropriate given Asia’s economic weight,” he remarked, “but also necessary, since Asia is such an important part of the solution.”
November 13, 2009--The NASDAQ OMX Group, Inc.
(Nasdaq:NDAQ) announced today the results of the semi-annual re-ranking
of the NASDAQ Biotechnology Index(R) (Nasdaq:NBI), which will become
effective with the market open on Monday, November 23, 2009.
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