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Moody's changes EU rating outlook to negative
September 3, 2012--Moody's Investors Service has changed its outlook on the Aaa rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU's four biggest budget backers: Germany, France, UK and Netherlands.
The move will add to pressure on the European Central Bank to provide details of a new debt-buying scheme to help deeply indebted euro zone states at its policy meeting on Thursday.
Back in July, Moody's changed its outlook for Germany, the Netherlands and Luxembourg to negative as fallout from Europe's debt crisis cast a shadow over its top-rated countries. The outlook on France and the UK are also negative.
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Source: Reuters
Xetra orderbook turnover at 79 billion euros in August
September 3, 2012--Order book turnover on Xetra and the Xetra Frankfurt specialist trading stood at €83.8 billion in August-a decrease by 54 percent year-on-year (August 2011: €181.6 billion).
Of the €83.8 billion, €79.4 billion were attributable to Xetra – a decrease by 54 percent y-o-y (August 2011: €173.4 billion). €4.4 billion were attributable to the Xetra Frankfurt specialist trading – a decrease by 47 percent y-o-y (August 2011: €8.3 billion). Order book turnover on Tradegate Exchange* totalled approximately €2.7 billion in August.
In equities, turnover reached €69.7 billion on Deutsche Börse’s cash markets (Xetra: €67.9 billion, Xetra Frankfurt specialist trading: €1.8 billion). Turnover in bonds was €1.5 billion, and in structured products on Scoach €1.2 billion. Order book turnover in funds and ETFs/ETCs/ETNs amounted to €11.7 billion.
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Source: Xetra
Average daily volume of 7.2 million contracts at Eurex Group in August
September 3, 2012--In August 2012, the international derivatives markets of Eurex Group recorded an average daily volume of 7.2 million contracts (August 2011: 13.2 million).
Of those, 5.1 million were Eurex Exchange contracts (August 2011: 9.1 million), and 2.1 million contracts (August 2011: 4.1 million) were traded at the U.S.-based International Securities Exchange (ISE). August 2011 saw very high volumes due to turbulences in the euro zone. In total, 117.2 million contracts were traded at Eurex Exchange and 49.1 million at ISE.
At Eurex Exchange, the equity index derivatives segment totaled 56.8 million contracts (August 2011: 123.5 million). The single largest contract was the future on the EURO STOXX 50® Index with 21.0 million contracts. The option on this blue chip index totaled 24.2 million contracts. Futures on the DAX index recorded 2.6 million contracts while the DAX options reached another 4.1 million contracts. The Eurex KOSPI Product recorded 1.8 million contracts.
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Source: Eurex
BlackRock North American Income Trust To Raise GBP100M in London Float
September 3, 2012--BlackRock Investment Management (U.K.) Ltd. Monday announces the launch of BlackRock North American Income Trust PLC, a new, North American focused, equity income investment trust to be floated on the main market of the London Stock Exchange at 100 pence a share.
MAIN FACTS:
BlackRock intends to raise in excess of GBP100 million for BlackRock North American Income Trust, or BRNAIT.
Company will target an initial annualized dividend yield of 4%, paid quarterly in sterling, net of fees, and aims to outperform the Russell 1000 Value Index on a total return basis.
Company will invest into a portfolio of predominantly U.S. large cap quoted companies that exhibit the ability to grow dividends and will employ an active options overlay strategy using predominantly covered call options.
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Source: Wall Street Journal
BlackRock gearing up for commission-free era
Septemeber 2, 2012--BlackRock's exchange traded fund (ETF) division, iShares, is gearing up for the UK's new distribution rules by hiring new hands.
iShares is to add at least six people to its UK-based operations in the months ahead as it prepares for the introduction of the Financial Services Authority’s retail distribution review (RDR) in January.
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Source: FT.com
Eurozone inflation rises to 2.6% in August
August 31, 2012--Eurozone inflation rose again in August to 2.6 percent, the EU statistics agency said on Friday in a flash estimate.
After holding steady at an annualised 2.4 percent over the three previous months, the figures from the Eurostat agency marked the 20th consecutive month that inflation came in above the ECB's medium-term inflation target of just below but close to 2.0 percent.
Source: EUbusiness
European ETF sec lending revenue hit 40 EURO million in 2011
August 31, 2012--A survey has found that approximately €40 million in net revenue was generated from securities lending in European physical replication exchange traded funds (ETFs) last year.
Information and data provider Morningstar’s survey of 10 European providers of physical replication ETFs comes after the European Securities and Markets Authority (ESMA) released controversial guidelines on ETFs and other UCITS issues that affect securities lending in July.
The guidelines were developed following a review of the current regulatory regime in Europe. ESMA found it to be “insufficient to address the specific features and risks associated with” index-tracking UCITS and UCITS ETFs and the efficient portfolio management techniques, such as securities lending, repo and reverse repo, that they may carry out.
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Source: Securities Lending Times
STOXX-Annual Blue-chip Review Q3/2012
Regular Annual Review to be effective on September 24, 2012
August 31, 2012--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the results of the regular annual review of the STOXX Blue-Chip Indices, among them the STOXX Europe 50, EURO STOXX 50, STOXX Nordic 30 and STOXX EU Enlarged
15 indices;
as well as the results of the second semi-annual review of the STOXX Eastern Europe 50 Index.
All changes will be effective with the open of European markets on September 24, 2012.
No changes will be made to the STOXX Europe 50, EURO STOXX 50 and STOXX Nordic 30 indices.
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Source: STOXX
Brussels pushes for wide ECB powers
August 31, 2012--The European Central Bank would be given sweeping authority over all 6,000 eurozone banks under a plan being drawn up by the European Commission, putting Brussels on a collision course with Germany and the ECB itself, which have urged a more decentralised first step towards "banking union".
The plan, agreed at a meeting this week between top aides to José Manuel Barroso, commission president, and Michel Barnier, the EU's senior financial regulator, would strip existing national supervisors of almost all authority to shut down or restructure their countries' failing banks, giving those powers to Frankfurt.
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Source: ECB
Economic sentiment declines further in both the EU and the euro area
August 30, 2012--In August the Economic Sentiment Indicator (ESI) decreased markedly by 2.0 points in the EU, to 87.0, and by 1.8 points in the euro area, to 86.1.
In both areas, the loss in confidence was particularly strong among consumers, retail trade and construction managers. In the services sector the loss in confidence was marked in the euro area but more contained in the EU as a whole. On the contrary, while confidence in industry decreased in the EU, it remained broadly stable in the euro area.
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Source: European Commission
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