Thursday 2nd July 2015
NEWS TICKER: THURSDAY, JULY 2nd 2015: at €149.3bn in June (June 2014: €93.7bn). Some €140.1bn is attributable to Xetra (June 2014: €86.2bn). The average daily turnover on Xetra stood at €6.4 billion in June (June 2014: €4.1 bn).A turnover of €4.1bn was attributable to Börse Frankfurt (June 2014: €3.9bn) - Equity trading volumes on the Vienna Stock Exchange amounted to €30.60bn from January to June 2015. This corresponds to an increase of 24 % versus the same period last year. Following particularly lively turnover in March, trading activity has remained strong in subsequent months. The average monthly turnover in the first half-year was around €5.1bn, 28% higher than in the previous year (2014: €3.98bn). Rising prices were not the only factor driving up trading volumes - the number of exchange trades was also up this year from 38.8% (exchange trades executed: HY1 2014: 2.85m; HY1 2015: 3.96m). Austrian companies have raised a volume of €195m in fresh capital through capital increases in the first half of 2015 - Markit (Nasdaq: MRKT), the financial information services provider, says it has completed its acquisition of Information Mosaic, a software provider for corporate actions and post trade securities processing. The Information Mosaic business is being integrated into Markit’s Solutions division and will be led by Paul Taylor, managing director, reporting to Michele Trogni, managing director and cohead of Solutions - Gerry Rice, director of communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today: “I confirm that the SDR 1.2 billion repayment (about EUR 1.5bn) due by Greece to the IMF today has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared. I can also confirm that the IMF received a request today from the Greek authorities for an extension of Greece’s repayment obligation that fell due today, which will go to the IMF’s Executive Board in due course.” - Morningstar has downgraded the Neptune European Opportunities fund to a Morningstar Analyst Rating™ of Bronze. The fund previously held a Silver rating. The fund remains a solid choice as an unconstrained European equity offering, boasting a talented and longstanding manager in Rob Burnett. However, the risk-return profile of the fund has deteriorated over recent years as the manager has made a number of ill-timed shifts in the portfolio which have resulted in significant performance variability and heavily weighed on the fund’s three- and five-year risk-adjusted returns. Whilst Morningstar continues to think very well of Burnett and expects investors to benefit from his moves to limit short-term trading and make better use of the risk management tools at his disposal, Morningstar believes a Bronze rating provides a better reflection of the fund’s relative merits – The shares of Cassiopea were traded for the first time under the Main Standard of SIX Swiss Exchange, opening at CHF35.00. This corresponds to a total market capitalisation of around CHF350m - Further to its public offer of up to 1,000,000 Certificates to be issued by Deutsche Bank AG under its X-markets programme, the bank has issued 45,000 securities at a price of U$100 per certificate today. Application has been made for the Securities to be admitted to listing on the official list of the Luxembourg Stock Exchange and to trading on the Euro-MTF market of the Luxembourg Stock Exchange - The Straits Times Index (STI) ended 13.81 points or 0.42% higher to 3331.14, taking the year-to-date performance to -1.01%. The top active stocks today were Singtel, which gained 1.19%, SGX, which gained 4.47%, DBS, which declined 0.92%, OCBC Bank, which declined 0.10% and Global Logistic, with a 1.19% advance. The FTSE ST Mid Cap Index gained 0.09%, while the FTSE ST Small Cap Index rose 0.14%. The outperforming sectors today were represented by the FTSE ST Real Estate Holding and Development Index, which rose 1.35%. The two biggest stocks of the Index - Hongkong Land Holdings and Global Logistic Properties – ended 2.32% higher and 1.19% lower respectively. The underperforming sector was the FTSE ST Technology Index, which slipped 1.63%. Silverlake Axis shares declined 3.57% and STATS ChipPAC gained 0.97%.

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Investment banks draw up green bond guidelines Copyright Dreamstime.com

Investment banks draw up green bond guidelines

Monday, 13 January 2014
Investment banks draw up green bond guidelines New principles on the development and issuance of green bonds have been drawn up by a group of large investment banks. http://www.ftseglobalmarkets.com/media/k2/items/cache/63b46f1e9614c655caa7fc03ac211b27_XL.jpg

New principles on the development and issuance of green bonds have been drawn up by a group of large investment banks.

Bank of America Merrill Lynch, Citi, Crédit Agricole CIB and JPMorgan drafted the new framework, which guides disclosing, managing and reporting on the proceeds of a green bond.

Green bonds issued by banks and corporates are proving popular with firms seeking socially responsible investments, recent figures show. High issuance in November 2013 is reported to have doubled the total raised in 2013 to nearly $10bn and positioned the market for further growth.



The new steps are set to provide issuers with guidance on the key components involved in launching a green bond and aid investors evaluating the environmental impact of their investments.

"The development of a robust and liquid market for green bonds is an important progression for debt markets," says Suzanne Buchta, global co-head of Green Debt Capital Markets at BofA Merrill. "In co-authoring these principles we attempt to help standardize the product and we hope to catalyse investment into environmentally sustainable projects, something to which our firm is very committed."

Tanguy Claquin, managing director at Crédit Agricole CIB adds: "We are very pleased to have co-authored and announced the establishment of the Green Bond Principles. This is an important first step towards a more coherent approach to the market of Green and Sustainability Bonds, which will ultimately increase its attractiveness for investors thus encouraging investments into sustainability projects."

BNP Paribas, Daiwa, Deutsche Bank, Goldman Sachs, HSBC, Mizuho Securities, Morgan Stanley, Rabobank and SEB have all backed the principles.

The four banks that drafted the framework are set to propose a governance process that will allow for stakeholder input into the guidelines.

Read more about the Green Bond Principles here <http://www.ceres.org/greenbondprinciples> .

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