Sunday 30th August 2015
NEWS: Friday, August 28TH: The Hong Kong Monetary Authority says it has granted a restricted banking licence to Goldman Sachs Asia Pacific Company Limited (GSAPCL) under the Banking Ordinance. GSAPCL, incorporated in Hong Kong, is a wholly-owned banking subsidiary of the Goldman Sachs Group, Inc. The number of restricted licence banks in Hong Kong is now 24 - Apple launched its first Australian dollar corporate bond issue, raising $1.2bn within two hours this morning. Strong demand for the US tech giant’s fixed and floating, four and seven year Kangaroo bonds saw the firm outstrip predictions it would raise between $500m and $1bn. Apple bonds are popular because the AA+ rated company is considered an ultra-safe investment, although yields are correspondingly low — about 3% on four-year bonds and about 3.8% on seven-year bonds - The European Securities and Markets Authority (ESMA) has published the responses received to the Joint Committee Discussion Paper on Key Information Document for PRIIPS. The responses can be downloaded from the regulator's website - Romania’s MV Petrom reportedly is planning a secondary listing on the London Stock Exchange. According to Romanian press reports, the local investment fund Fondul Proprietatea may sell a significant stake in the company via public offering on the Bucharest Stock Exchange and London Stock Exchange. OMV Petrom, with a current market capitalisation of €4.85bn has announced that it will ask its shareholders’ approval for a secondary listing in London. The general shareholders meeting is scheduled for September 22nd. Austrian group OMV, holds 51% of the company’s shares; other shareholders include the Romanian state, via the Energy Ministry, with a 20.6% stake, and investment fund Fondul Proprietatea, which holds 19%. The remaining 9.4% is free-float - Morgan Stanley (NYSE/MS) today announced the launch of a new fund, the IPM Systematic Macro UCITS Fund, under its FundLogic Alternatives plc umbrella. The fund provides exposure to IPM’s Systematic Macro strategy, which is based on IPM’s proprietary investment models that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns. The FundLogic Alternatives Platform currently has more than $2.6bn in assets under management (as of 31 July 2015) and this latest addition expands Morgan Stanley’s offering of global macro strategies - Equities sold off hard this morning as continued pressure on Chinese stocks rippled throughout world markets. Chinese government intervention brought the Shanghai Composite back a positive close; but the question is now, has confidence eroded so much that the market will continue to depend on the government to prop it up? The other key element to consider today is the outcome of the debate in the German parliament on the Greek bailout. Last month, a record 65 lawmakers from the conservative camp broke ranks and refused to back negotiations on the bailout. The daily Bild estimated that up to 120 CDU and CSU members out of 311 might refuse to back the now-agreed deal. However, Chancellor Merkel is looking to secure support from the Social Democrats (SPD), Merkel's junior coalition partner, and the opposition Greens which will likely swing the final decision Greece’s way. However, a rebellion by a large number of her allies would be a blow to the highly popular Chancellor.

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Foreign investors still in Spanish stock market, despite continuing crisis

Thursday, 14 June 2012
Foreign investors still in Spanish stock market, despite continuing crisis According to share ownership figures released by Bolsas y Mercados Espanoles (BME), the Spanish stock exchange, non-resident investors still are the main owners of shares in listed Spanish companies, with 40% of their total value, one more point than in 2010 and just a tenth below the 2009 record high, according to the latest report on share ownership structure in Spain released today by BME’S Research Department, with end-2011 data. insurers in the market, at 3.3% of its total value. http://www.ftseglobalmarkets.com/

According to share ownership figures released by Bolsas y Mercados Espanoles (BME), the Spanish stock exchange, non-resident investors still are the main owners of shares in listed Spanish companies, with 40% of their total value, one more point than in 2010 and just a tenth below the 2009 record high, according to the latest report on share ownership structure in Spain released today by BME’S Research Department, with end-2011 data.

insurers in the market, at 3.3% of its total value.

The figure, which is the second highest percentage in history, reflects that despite the worsening conditions surrounding the European sovereign debt market, non-resident investors are gradually taking advantage of the sharp correction in Spanish equities.

According to the study, the Spanish households maintain a solid position in Spanish equities, which are among the main assets in which they put their savings. Although in 2011 the participation of Spanish households decreased by a point to 21.2%, it confirms a trend of stability for the last five years.



One of the conclusions of the report worth highlighting is the stronger presence of banks and saving banks in the stock market, which increased their position by 3 points last year, in contrast with non-financial firms, whose share of Spanish equities went down 4 points. In both cases, the changes are associated with factors linked to the financial crisis.

The financial sector, which comprises banks, saving banks, investment funds and pensions, insurers and non-bank financial advisers, bucked the downward trend initiated in 2007, at 16.3% of the value of Spanish equities, up four points from the figure for 2010.

It is worth mentioning the increased presence of Spanish

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