Friday 28th November 2014
NEWS TICKER: THURSDAY, NOVEMBER 27TH 2014: The Straits Times Index (STI) ended -8.70 points lower or -0.26% to 3340.96, taking the year-to-date performance to +5.56%. The FTSE ST Mid Cap Index declined -0.11% while the FTSE ST Small Cap Index declined -0.43%. The top active stocks were SingTel (-0.26%), DBS (-0.25%), ThaiBev (-4.38%), Suntec REIT (+0.26%) and OCBC Bank (+0.10%). The outperforming sectors today were represented by the FTSE ST Health Care Index (+0.47%). The two biggest stocks of the FTSE ST Health Care Index are Raffles Medical Group (-0.52%) and Biosensors International Group (+2.75%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -2.14% with Midas Holdings ’ share price declining -5.09% and Geo Energy Resources’ share price gaining +2.33%. The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (+0.26%), United SSE 50 China ETF (-0.57%), STI ETF (+0.59%). The three most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (+0.26%), Ascendas REIT (-0.86%), CapitaCom Trust (-0.89%). The most active index warrants by value today were HSI24400MBeCW141230 (-15.73%), HSI23800MBePW150129 (+6.45%), HSI23600MBePW141230 (+11.11%). The most active stock warrants by value today were DBS MB eCW150602 (+3.33%), UOB MB eCW150415 (+5.23%), UOB MB eCW150102 (+2.38%) - Moody's has withdrawn the rating of Rossiyskiy Kredit Bank's Caa3 long-term local- and foreign-currency deposit ratings, the Not Prime short-term deposit ratings and the E standalone bank financial strength rating (BFSR), equivalent to a caa3 baseline credit assessment. The ratings agency says the rating has been withdrawn for its own business reasons At the time of the withdrawal, the outlook on the bank's long-term ratings was negative while the standalone E BFSR carried a stable outlook - Malaysian builder MMC Corp Bhd said earlier today that it will list its power unit Malakoff Bhd (IPO-MALB.KL) in a deal bankers expect to raise more than $1bn dollars. The IPO, for up to 30.4% of Malakoff's capital, was deferred earlier this year and approval from the Securities Commission lapsed as a result. MMC, controlled by reclusive Malaysian tycoon Syed Mokhtar Al-Bukhary, will resubmit the application within one month and expects the deal to be completed by second quarter of 2015, according to a local stock exchange filing – According to local press report the newly minted Somalia Stock Exchange expects seven companies in the telecoms, financial services and transport sectors to list when it is set up in 2015. Somalia's economy is slowly recovering from more than two decades of conflict, although the government is still battling an Islamist insurgency. Amid the chaos, some businesses have thrived, including money transfer and mobile phone firms. The Somalia Stock Exchange has opened administrative offices in Mogadishu and other Somali centres like Kismayu, as well as in Nairobi, to help recruitment and in other related issues - Moody's has upgraded to Baa1 from Baa2 the long-term deposit ratings of China CITIC Bank International Limited, and affirmed the bank's P-2 short-term deposit ratings. The bank's senior unsecured MTN program rating and deposit note/CD program ratings are also upgraded to (P)Baa1/Baa1 from (P)Baa2/Baa2, while the short-term deposit note/CD program ratings are affirmed at (P)P-2. The bank's baseline credit assessment (BCA) is unchanged at baa3. The outlook on all the ratings is stable. The rating action concludes Moody's review for upgrade for China CITIC Bank International, which was initiated on September 2nd this year, after the senior unsecured bond rating of its ultimate parents CITIC Group Corporation and CITIC Limited (formerly CITIC Pacific Limited) were upgraded to A3 from Baa2. CITIC Group Corporation, wholly owned by China's Ministry of Finance, owns 78% of CITIC Limited, which in turn owns 67% of China CITIC Bank.

Latest News

  • Thursday, 27 November 2014 España, el Ibex35 salvaguarda sus alzas
    El selectivo de la bolsa española cerró sus puertas con subidas del 0.7% que le llevaron a los 10.727 puntos. Una revalorización que llegó de la mano de IAG y FCC, protagonista de la jornada tras conocerse que Carlos Slim controlará el 25% del capital de la constructora. En el mercado de divisas, de nuevo el euro cerró en los 1.2483 dólares con el petróleo en los 78.11 dólares, después de que la OPEP no haya acordado rebajar la producción. Read more...
  • Thursday, 27 November 2014 Guatemala gana caso contra Perú en la OMC
    Hoy en Ginebra, el Grupo Especial, en su informe de 136 páginas, concede ampliamente la razón a Guatemala y determina que la franja de precios que Perú aplica a las importaciones de azúcar, arroz, maíz y algunos productos lácteos es incompatible con los Acuerdos de la OMC. Read more...
  • Thursday, 27 November 2014 BCE publica el informe «Financial stability review»
    El Banco Central Europeo (BCE) ha publicado hoy el último informe de estabilidad financiera («Financial Stability Review»), donde afirma que la tensión sistémica entre las entidades de crédito de la zona del euro y los emisores soberanos continuó disminuyendo, hasta situarse en niveles observados por última vez al inicio de la crisis financiera mundial en 2007. Read more...
  • Thursday, 27 November 2014 SGX: Five highest turnover stocks averaged 5.8% gain in November to date
    According to the Singapore stock exchange SGX, the five highest turnover stocks in the month to date have been SingTel, DBS Group Holdings, United Overseas Bank, Suntec REIT and Oversea-Chinese Banking Corp. As of yesterday’s close these five stocks had averaged a 5.8% month-to-date gain. Read more...
  • Thursday, 27 November 2014 Asia/Pacific needs to improve affordable access to healthcare, says OECD
    Most countries in the Asia/Pacific region need to step up their efforts to give more people access to affordable, quality healthcare. The comment must cut to the heart of emerging market investors that have focused much of their allocation on ‘consumer’ oriented businesses such as retail, healthcare, telecommunications and automotives. Clearly more needs to be done/invested. Read more...
  • Thursday, 27 November 2014 Pascal Canfin to chair expert committee for low carbon 100 Europe Index®
    Euronext says that Pascal Canfin will chair the Expert Committee of the Low Carbon 100 Europe Index®. A former French deputy minister for development, Canfin is the lead advisor on international climate issues at the World Resources Institute (WRI), now contributing to preparations for COP 21, the 21st Conference of the Parties on Climate Change 2015. Read more...
  • Thursday, 27 November 2014 SWIFT/EFAMA report shows rise in fund processing standardisation
    EFAMA and SWIFT publish on a bi-yearly basis trends in standardisation and automation rates of fund orders received by transfer agents (TAs) in Luxembourg and Ireland. These reports showing the evolution of standardisation and automation rates of funds orders are available on both EFAMA and SWIFT websites2 dating back to May 2009. Read more...
  • Thursday, 27 November 2014 Mercer announces Ben Gunnee as UK Head of Fiduciary Management
    Mercer has announced Ben Gunnee as its new UK Head of Fiduciary Management. Gunnee will start his new role in January 2015 and will be responsible for maintaining existing client relationships and for continuing to grow Mercer’s fiduciary management business in the UK. Read more...
  • Thursday, 27 November 2014 SGX announces launch of bond trading platform
    Singapore Exchange (SGX) says it will launch a bond trading platform by mid-2015. It will initially trade Asian corporate bonds in G3 currencies, with Asian local currencies to follow. To drive this initiative, the first of its kind focused on Asian bonds, SGX has formed a new subsidiary, SGX Bond Trading (SGX BT).  Read more...
  • Thursday, 27 November 2014 REITS and the AIFMD web
    The Alternative Investment Fund Management Directive has entangled many property managers in the murky web of regulation for the first time, writes Michelle Bedwin, Senior Consultant, CCL. Read more...
  • Thursday, 27 November 2014 SwapClear reports reduction in notional outstanding in OTC IR derivs
    Even though SwapClear reports record cleared volumes, because of compression, achieved through SwapClear’s proprietary and third-party TriOptima compression service, it also reports its first annual net reduction in gross notional outstanding. The surge in compression has been strengthened since the introduction of blended rate compression and other enhancements in September, and in turn this is expanding the universe of eligible trades. Read more...
  • Wednesday, 26 November 2014 Guatemala y Canadá buscan incrementar sus relaciones comerciales
    Con el objetivo de promover el acercamiento entre Canadá y Guatemala para estrechar las relaciones comerciales y de inversión entre ambos países, la Viceministra de Integración y Comercio Exterior, María Luisa Flores, realizó una visita oficial, durante la cual se reunió con el Ministro de Comercio Internacional de Canadá, Eduard Fast. Read more...
  • Wednesday, 26 November 2014 España proyecta una revalorización de las pensiones
    El próximo año las prestaciones del sistema de la Seguridad Social en el estado español se revalorizarán con carácter general un 0,25%, un incremento del que se beneficiarán 9.270.983 pensiones contributivas; 451.050 pensiones no contributivas y 183.471 prestaciones por hijo a cargo con minusvalía. Read more...
  • Wednesday, 26 November 2014 1,000+ investors join Israeli web trading platform PrivatEquity.biz
    PrivatEquity.biz Israel’s first secondary market trading arena, reports that over 1,000 investors have joined its platform since its launch. The platform enables private investors from Israel and abroad to be introduced to employees, former employees and executives who are interested in selling securities in growing private hi-tech companies. Read more...
  • Wednesday, 26 November 2014 Record day volume in ICE Endex natural gas/Dutch power futures
    Intercontinental Exchange (ICE), says ICE Endex achieved a record daily volume in TTF Natural Gas futures with 27,569 contracts traded yesterday. A new total daily volume record for Dutch Power futures across Dutch Power Baseload and Dutch Power Peakload was also reached, with 3,475 contracts traded on the day. Read more...
  • Wednesday, 26 November 2014 SEC looks for comment as FICC files rule change application
    The Fixed Income Clearing Corporation (FICC) has filed a rule change application with the US Securities and Exchange Commission (SEC). The proposed rule change consists of amendments to the rules of the Government Securities Division (GSD Rules) and the Mortgage-Backed Securities Division (MBSD Rules) of FICC should the corporation ever default and provides clarity to member firms Read more...

MORE NEWS...
Key Stories from FTSE Global Markets
Wednesday, 24 September 2014

Prime computations

As regulators turn up the heat, prime-service providers have responded in kind by trimming the fat and optimising current tools, while also emphasising the same old “client-centric” concepts of the past. From Boston, Dave Simons reports.

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Wednesday, 24 September 2014

MarketAxess plugs the liquidity gap

In the absence of large dealer participation, New York-based MarketAxess has sought to plug the liquidity gap with its proprietary electronic trading platform, providing investors and broker dealers with streamlined access to an array of fixed-income products, Dave Simons talks to Rick McVey, MarketAxess chief executive, about the opportunities and challenges of the segment.

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Wednesday, 24 September 2014

Dragging dead weight

For those with eyes to read and ears to hear the macro economic news for the UK has been startling. GDP growth is apparently leading (well, Europe, at least), business optimism has been strong, inflation low, pound strong(ish). So why does it all seem to be a bit of an illusion? Simon Denham, chief executive officer of independent City consultant Skrem Ltd, gives us the bear view.

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Prices in the UK’s property, particularly real estate continue to rise, even as numbers of local mortgage applications shows signs of slowing. Even so, demand for property continues to outstrip supply and London in particularly continues its dominance within the United Kingdom, in terms of residential prices. London’s East End has been a particular beneficiary of increasingly relaxed development rules and the eastward shift in the capital of business and financial innovation.

Read more...
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