Thursday 28th July 2016
NEWS TICKER: JULY 27TH 2016: The ESMA registers portal will undergo a technical update tomorrow. The machine-to-machine service will no longer support connections via SSL v1, SSL v2, SSL v3 and RC4 - All machine-to-machine services will be available via HTTPS only while HTTP connectivity will no longer be available. Full details are available on the portal itself – Twitter looked to have missed second-quarter revenue numbers and gave a gloomy outlook for growth in Q3. Q2 revenues of $602m and earnings per share of 13 cents disappointed analyst, who expected revenues of c.$607m, while EPS beat estimates of $0.10. Twitter says Q3 revenue will be somewhere between $590m and $610m. Twitter’s shares have dropped 20% year-to-date, and fell by more than 11% in after-hours trading after its results were announced. The firm says it believes advertising will migrate to video and explained that is why it secured streaming rights to NFL and NBA games in the US. Chief operating officer Adam Bain says, “There is a whole new set of video budgets out there today. These are these online video budgets. It’s about a $10bn marketplace in the US. These are video budgets that today we basically don’t qualify for, since the spend is going in other areas.” However, investors look to be wary of whether user growth (up only 1%) will meet expectations. The next benchmark report will be from Facebook (expected today), which analysts think will be strong. - Deutsche Bank AG reports that its second-quarter net income fell 98% from a year earlier, hurt by weaker performances in trading and investment banking, as well as restructuring costs. John Cryan, chief executive officer of the German bank, said that more needs to be done to control costs and that low interest rates will increasingly affect customers -- Verizon Communications has agreed to a $4.83bn cash deal for Yahoo's web assets as it looks to grow its digital media and advertising business - Apple reports a 15% drop in Q3 revenues because of falling iPhone sales, revenue and average selling price. Moreover, the firm’s market share of global smartphone shipments also fell off in Q1 by as much as 3 percentage points to 14.8% following a couple of years’ worth of impressive growth, particularly in China. Apple is meeting growing competition from Chinese smartphone vendors such as Huawei, Oppo and Xiaomi. Apple reported an overall decline in revenues of $7bn to $42.4bn in Q3, down 15% year on year, mostly due to a drop in iPhone shipments - The Catalan Parliament has voted 72-10 in favour of the conclusions of a pro-independence "constituent process" report today, a move that opposition parties, two of which abandoned the chamber in protest, described as "wholly illegal". MPs from the Popular Party in Catalonia (PPC) and Ciudadanos left the chamber in protest before the vote took place. Catalan Socialist Party (PSC) MPs remained seated but did not vote. The report, commissioned by separatist parties in the parliament, recommend measures that could lead to a unilateral declaration of independence. Earlier this month, the Spanish Constitutional Court warned the Catalan Parliament that its commission could not study "the opening of a constituent process in Catalonia that leads to the creation of a future Catalan constitution and an independent Catalan state". Esquerrra (ERC) leader Oriol Junqueras tweeted that "we have the democratic mandate to build a new country, clean and fair, and a mandate, for us, is a duty!" -- Jan Dehn, head of research at Ashmore, in a client note today made the case for allocating to emerging markets, even if uncertainties linger in developed markets. He suggests that whilet there are some risks involved, they are fairly priced, and insists that the fears pertaining to EM are misplaced. “Emerging Markets (EM) have performed a lot better this year than for some time. EM currencies are outperforming the Dollar and EM local bonds are up strongly year to date in Dollar terms. Despite the rally EM bonds still pay about 5-6 times higher yield than similar duration bonds in the US, while many other developed market bonds pay negative yields. The reasons for EM’s better performance are many, including better valuations, stronger technicals and improving relative and absolute fundamentals. As recently as last week, the IMF revised down developed market growth again, including -0.2% revisions of US and UK growth. China’s growth forecast was revised up.” -- The EBRD is considering extending a loan of up to $180m to RGP Kazvodkhoz (the "Company"), wholly owned by the Government of Kazakhstan, for rehabilitation of the water supply and irrigation infrastructure in South Kazakhstan, Zhambyl and Aktobe regions of Kazakhstan. The loan will be backed by a sovereign guarantee -- The unit of Royal Dutch Shell Plc plans to launch an IPO in October involving up to 330m primary and secondary shares (some 18.6% of the company’s shares) at up to P90 per share, with a listing on the Philippine Stock Exchange tentatively set for November 10th. The IPO is now awaiting regulatory approval and follows on from the recent$532m maiden issue by cement maker Cemex Holdings Philippines. Manila’s benchmark stock index touched a 15-month high last week, with investor confidence boosted by the country’s economic performance --

Editorial

Editorial http://www.ftseglobalmarkets.com/

Screen Shot 2014-07-18 at 10.09.23

FTSE Global Markets provides 360 degree coverage of the global investment markets. From the decision to allocate assets to particular markets or sectors and the buying of those securities through trading, clearing and settlement and to custody and administration of the assets in a portfolio, FTSE Global Markets provides detailed coverage of the entire cycle.

Moreover, the magazine provides insights into the market trends and institutions that drive this cycle, making it an invaluable one-stop shop for both the buy side and the sell side active in global investment.

If you read FTSE Global Markets over the year you will be provided with a detailed, yet succinct and apt high level overview of all the important market trends and developments. As liquidity continues to shift around the globe and smart money moves from one asset class to another, FTSE Global Markets is there to anticipate, record and report on investment trends, flows and new products.

Alternative investments:

Hedge funds, real estate and private equity are covered regularly, looking at capital inflows and investment returns and investment strategies.

Capital Markets:

The magazine looks at benchmark issues, arrangers and advisors, new issuance trends and regional developments in both the equities and debt markets.

Collateral Management:

One of the rising business segments in the evolving financial markets. We keep investors informed of the key regulatory requirements and ways in which collateral can be optimised across multiple asset and product classes.

Commodities:

whether you specialise in hard or soft commodities, we explain current trends and their implications for strategic investors. We also look at different ways investors gain exposure to key commodities and manage risk.

Equity Trading:

Each month we look at trading strategies, service innovations and new and evolving trading venues.

Derivatives:

Effective risk management involves the use of derivatives. Each month we look at the ways in which investors utilise derivatives either as investments or risk management tools.

Foreign Exchange:

The main trading pairs and rising reserve currencies are regularly covered.

Profiles:

Regular profiles of market leading firms, people and investors.

Regulation:

The magazine’s readers are kept up to date with the latest regulations and rulings, providing insights into the long term implications of regulatory change on investment and trading.

Roundtables:

Bringing together buy side and sell side views of key market developments, FTSE Global Markets has a well deserved reputation for producing high quality roundtables.

Sector Reports:

These variously look at banking and finance, as well as strategic industries such as energy and telecommunications. The magazine strives to offer insightful coverage of the key trends that investors need to know.

Securities Services:

From custody and fund administration to more arcane services such as securities lending and transition management, the magazine covers the gamut of asset servicing provision. Avoiding the myriad rankings of securities services providers, the magazine focuses on new services provision and important market trends. We also look at costs and ways in which the buy side can ensure they achieve cost effective support across the globe.

 

Current Issue

TWITTER FEED