Tuesday 25th November 2014
NEWS TICKER: TUESDAY, NOVEMBER 25TH 2015 - Morningstar has downgraded its Analyst rating for the Fidelity European Opportunities fund to Neutral. Jeremy Beckwith, director of manager research, Morningstar UK comments: “We have assigned the Fidelity European Opportunities fund a Morningstar Analyst Rating™ of Neutral. The fund had previously been placed Under Review following the fund’s management change announced in the summer. It was previously rated Silver. Alberto Chiandetti—who has gained most of his investment experience in the Italian market—took over from former manager Colin Stone on 1 October 2014. He is also responsible for two single-country strategies: Fidelity Italy since 2008, which has a Morningstar Analyst Rating of Silver, and Fidelity Switzerland since 2011, rated Neutral”. According to Beckwith: “This is Chiandetti’s first time running a European mandate and we expect to see him bring in relevant changes to the strategy. Over a full market cycle, he has proven able to execute his process well at the helm of Fidelity Italy; that said, his past results are not fully relevant for this product, given the differences in the investable universe and the opportunity set compared to the country funds. We have therefore assigned a Neutral rating to reflect the uncertainties surrounding the future of this strategy.” - Among the five China ETFs listed on Singapore Exchange (SGX), the three most active China ETFs in the 2014 year-to-date have been db x-trackers CSI 300 UCITS ETF, db x-trackers MSCI CHINA INDEX UCITS ETF, and United SSE50 China ETF. These first two are traded in US dollars, and the latter in Singapore dollars. These three China ETFs are synthetic ETFs that use derivative instruments such as swaps to track the reference index as compared to physical ETFs that hold the securities or assets of the reference index. These three ETFs generated an average 2014 year-to-date total return of 8.4% - The Straits Times Index (STI) ended +4.46 points higher or +0.13% to 3344.99, taking the year-to-date performance to +5.69%. The FTSE ST Mid Cap Index gained +0.21% while the FTSE ST Small Cap Index declined -0.47%. The top active stocks were SingTel (+0.26%), Olam Intl (-2.27%), DBS (+0.20%), ComfortDelGro (-2.71%) and CapitaLand (+0.30%). Outperforming sectors today were represented by the FTSE ST Technology Index (+1.14%). The two biggest stocks of the FTSE ST Technology Index are Silverlake Axis (+2.40%) and STATS ChipPAC (-1.11%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -0.84% with Midas Holdings’ share price declining -1.70% and Geo Energy Resources’ share price unchanged. The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (-0.77%), SPDR Gold Shares (+0.43%), STI ETF (unchanged). The three most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (+1.58%), Ascendas REIT (+1.76%), CapitaMall Trust (+0.25%). The most active index warrants by value today were HSI23800MBeCW141230 (unchanged), HSI23600MBePW141230 (-3.23%), HSI24400MBeCW141230 (unchanged). The most active stock warrants by value today were DBS MB eCW150602 (-2.96%), OCBC Bk MBeCW150413 (+1.08%), UOB MB eCW150415 (+6.25%) - Inter-American Development Bank (IDB) is providing financing under a Regional Public Goods Programme (RPG) that will be managed by Caribbean Export Development Agency in its capacity as the Secretariat for the Caribbean Association of Investment Promotion Agencies (CAIPA. The IDB has provided US$900.000 to CAIPA to support several initiatives geared towards increasing foreign direct investment (FDI) into the Caribbean and will be implemented over a two year period - Mexico has posted record FDI of $35.2bn inflow in 2013, nearly double the level seen in 2012, mainly due to Belgian brewer Anheuser-Busch InBev's acquisition of Mexican beer giant Grupo Modelo, which brought in over $13bn, according to figures released by the economy ministry - Eight Italian regions have hired banks to manage a round of bond buybacks for them, the treasury said on Tuesday, in a move aimed at giving indebted local administrations more time to repay their loans. Abruzzo, Campania, Lazio, Liguria, Lombardy, Marche, Piedmont and Puglia have hired Barclays, BNP Paribas, Citigroup and Deutsche Bank to manage any offers to buy back their bonds.

Latest News

  • Tuesday, 25 November 2014 Diálogo entre Mercosur y la Unión Aduanera Euroasiática
    Esta tarde han empezado en la Cancillería argentina las conversaciones entre representantes del Mercosur y la Unión Aduanera Euroasiática y Espacio Económico Único (UAE), conformada por la Federación Rusa, Bielorrusia y Kazajistán, con el objetivo de fortalecer las relaciones entre ambos bloques. Read more...
  • Tuesday, 25 November 2014 Panamá traza un plan estratégico para atraer la inversión extranjera
    PROINVEX PANAMA, la Agencia para la Atracción de Inversión Extranjera y Promoción de las Exportaciones del Ministerio de Comercio e Industrias, presentó hoy su Plan Estratégico para promover la inversión extranjera directa en el país. Read more...
  • Tuesday, 25 November 2014 NY household debt balances increase as deleveraging ends
    The New York Fed released the Quarterly Report on Household Debt and Credit, authored by Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw, for the third quarter (Q3) this year. Balances continued to rise slightly, with an overall increase of $78bn. Read more...
  • Tuesday, 25 November 2014 Moody's lowers price assumptions for benchmark crude oils
    In advance of this week's OPEC meeting, and taking into account the recent steep drop in oil prices, Moody’s has lowered its pricing assumptions for the two benchmark crude oils, European Brent and West Texas Intermediate (WTI), by $10 in 2015 and $5 in 2016. Read more...
  • Tuesday, 25 November 2014 FDIC-insured institutions earned $38.7bn in Q3
    In the largest uptick since 2009,commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $38.7bn in the third quarter (Q3) this year, up $2.6bn (7.3%) from earnings of $36.1bn the industry reported a year earlier. Read more...
  • Tuesday, 25 November 2014 SGX reports SGD63m in share buy backs last week
    According to SGX, during the week beginning November 17th, there were a total of 64,071,500 shares repurchased by 14 stocks with a total consideration of SGD63.3m. This followed on from 12 companies repurchasing 15,619,000 shares with a total consideration of SGD22.4m in the preceding week. Read more...
  • Tuesday, 25 November 2014 Outlook stable, but sovereign indebtedness still weighs
    Standard Life Investments, the global investment manager, warns that the state of public finances of developed countries means that more has to be done to boost growth and reduce debt. In the same vein, Moody’s suggests that while the sovereign ratings outlook is increasingly stable, and the global recovery will continue, growth will be halting and vulnerable to shocks. Read more...
  • Tuesday, 25 November 2014 SGSS extends S.Africa custody hub to Mauritius
    Societe Generale Securities Services (SGSS) has extended its South African custody hub to Mauritius by becoming the first remote participant to receive approval from the Mauritius Financial Services Commission (FSC) to provide comprehensive custody services in the country. Read more...
  • Tuesday, 25 November 2014 Rhön-Klinikum share repurchase a first for Frankfurt exchange
    The Rhön-Klinikum AG share repurchase programme with a volume of around €1.7bn undertaken today is Germany's first of its kind, in which tender rights could be traded via the stock exchange. Read more...
  • Tuesday, 25 November 2014 GFI launches USD MAC swaps on RatesMatch
    GFI Group Inc, an intermediary in the global OTC and listed markets, has launched USD Market Agreed Coupon MAC Swaps on its SEF. Read more...
  • Tuesday, 25 November 2014 IOSCO consults on cross-border regulation
    The International Organisation of Securities Commissions (IOSCO) today published the consultation report of the IOSCO Task Force on Cross-Border Regulation, which identifies and describes cross-border regulatory tools and challenges. Read more...
  • Tuesday, 25 November 2014 Carlyle Group invests $147m in Nigeria's Diamond Bank
    Global alternative asset manager, The Carlyle Group says it has invested $147m in Diamond Bank, a commercial bank headquartered in Lagos, Nigeria, with operations across West Africa and the UK. The investment came through the Bank’s recently completed $305m (NGN50bn) rights issue. Read more...
  • Tuesday, 25 November 2014 Finding the investment potential in Ukrainian grain
    Over 200 senior representatives from the Ukrainian grain industry, international financial institutions and the Ukrainian authorities participated in the Fifth Ukrainian Grain Congress (UGC) in Kiev today. The congress, jointly supported since 2011 by the Food and Agriculture Organisation of the United Nations (FAO) and the European Bank for Reconstruction and Development (EBRD), discusses key priorities for the sector,including spurring investment in the segment. Read more...
  • Tuesday, 25 November 2014 Moody's: Germany's banking system outlook stays negative
    The credit negative implications for senior creditors arising from the introduction of the new bank resolution framework across the EU outweigh the German banks' stable operating environment and improving financial stability, in particular, their funding access, capital and asset quality, says Moody's. Read more...
  • Tuesday, 25 November 2014 OECD looks for stronger policy in Europe in global survey
    Modest global economic forecasts, continuing high unemployment, and downshifts in potential output should spur governments with a greater sense of urgency to fully employ monetary, fiscal and structural policy levers to support growth, notably in Europe, according to the OECD’s latest Economic Outlook Read more...
  • Tuesday, 25 November 2014 Technology not a substitute for liquidity says ICMA report
    The euro denominated bond market is worth around $3.4trn a year, but is still facing a potential liquidity crisis, particularly in the corporate bond segment, according to a new study from the International Capital Market Association (ICMA). Where's the solution to be found? 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.

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