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Regular Review Results For Dow Jones Islamic Market Indexes
September 9, 2010-- Dow Jones Indexes, a leading global index provider, today announced the results of the regular annual and regular quarterly review of the Dow Jones Islamic Market Indexes. All changes will be effective after the close of trading on Friday, September 17, 2010
In the Dow Jones Islamic Market China/Hong Kong 30 Index, the following four components will be added: GOME Electrical Appliances Holding Ltd. (Hong Kong, Retail, 0493.HK), Geely Automobile Holdings Ltd. (Hong Kong, Automobiles & Parts, 0175.HK), Anta Sports Products Ltd. (Hong Kong, Personal & Household Goods, 2020.HK) and China Dongxiang Group Co. Ltd. (Hong Kong, Retail, 3818.HK). Companies exiting the index: Cheung Kong Infrastructure Holdings Ltd. (Hong Kong, Construction & Materials, 1038.HK), Kingboard Chemical Holdings Ltd. (Hong Kong, Chemicals, 0148.HK), Pacific Basin Shipping Ltd. (Hong Kong, Industrial Goods & Services, 2343.HK) and China Unicom (Hong Kong) Ltd. (China, Telecommunications, 0762.HK).
The free-float market capitalization of the reconstituted Dow Jones Islamic Market China/Hong Kong 30 Index decreased to US$208.50 billion from US$223.52 billion.
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Source: Dow Jones Indexes
Emerging Market ETFs Show Leadership in U.S. Trading: Technical Analysis
ETFs listed in the U.S. that track the stock markets of Colombia, Chile and Thailand have closed at records in the past week, while funds linked to India, Singapore and Malaysia are trading at their highest levels in at least a year. Their gains are in contract to equity benchmarks for the U.S. and Europe,...
Source: Bloomberg
Economy: Recovery slowing amid increased uncertainty, says Interim Economic Assessment
The OECD says the loss of momentum in the recovery is temporary although uncertainty has increased.
“The uncertainty is caused by a combination of both positive and negative factors,” said OECD Chief Economist Pier Carlo Padoan. “But it is unlikely that we are heading into another downturn.”
While consumer spending is set to remain weak, a combination of robust corporate profits and low business investment suggest that capital spending is unlikely to weaken further. Because inventories are now close to desired levels, a renewed depletion of stocks is also unlikely.
Overall financial conditions have stabilised, the report notes, and growth remains strong in the major emerging-market economies.
Source: OECD
NYSE Euronext Announces Trading Volumes for August 2010
NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for August 20101. Global derivatives average daily volume ("ADV") increased 8.4% to 6.3 million contracts traded per day in August 2010. The increase in global derivatives ADV versus prior year levels was driven by a 30.3% increase in U.S. equity options ADV, partially offset by a 6.0% decrease in European derivatives ADV during the seasonally slower summer period. Cash equities ADV in August 2010 were down, with European and U.S. cash trading volumes decreasing 1.9% and 21.8%, respectively, compared to prior year levels. Highlights NYSE Euronext global derivatives ADV in August 2010 of 6.3 million contracts increased 8.4% compared to August 2009, but decreased 10.7% from July 2010 levels. Open interest across all global derivatives businesses at the end of August 2010 was 89.0 million contracts, an increase of 1.8% compared to August 2009, but a decrease of 1.2% compared to July 2010. Global derivatives fixed income open interest of 29.5 million contracts was up 19.1% compared to August 2009 and up 4.3% compared to July 2010.
Source: NYSE Euronext
Education: Governments should expand tertiary studies to boost jobs and tax revenues
“In a global economy, it is no longer improvement by national standards alone. The best performing education systems internationally provide the benchmark for success,” said OECD Secretary-General Angel Gurría launching the report in Paris. “With the worldwide recession continuing to weigh on employment levels, education is an essential investment for responding to the changes in technology and demographics that are re-shaping labour markets.” Recent experience demonstrates the value of investing in education. During the economic downturn, young people with low levels of education were hard hit, with unemployment rates for those that had not completed high school rising by almost five percentage points in OECD countries between 2008 and 2009.
view Education at a Glance 2010: OECD Indicators
Source: OECD
Diamond to be new head of Barclays
Mr Diamond, who runs BarCap from New York but will move back to London to take up his new post, will be paid an annual salary of £1.35m, up from the current £250,000. His annual bonus will be two and a half times his salary – £3.37m – and he will also receive a long-term incentive plan of five times his salary.
Source: FT.com
Harvest fears push up global grain prices
Certainly investors have fallen out of love with equities. Since the dotcom bubble burst, the trailing price earnings ratio for the London stock market has dropped from more than 25 to about 10. Dividend yields on a trailing and prospective basis are now higher than 10-year UK gilts, something that has rarely happened in the past 50 years, while the weighting of equities in UK private pension funds has fallen sharply, by 37 percentage points on some measures.
Source: FT.com
Dow Jones Index Data Monthly Reports
Index Data Monthly Report: MENA Edition Index Data Monthly Report: Dow Jones Islamic Market Indexes
Index Data Monthly Report: Europe Edition
Index Data Monthly Report: Dow Jones-UBS Commodity Indexes Index Data Monthly Report: Latin America Edition
Index Data Monthly Report: U.S. Edition Index Data Monthly Report: Dow Jones Brookfield Infrastructure Indexes
visit Dow Jones Indexes for more info.
Source: Dow Jones Indexes
Moving Public Debt onto a Sustainable Path
The IMF said governments need to develop credible fiscal plans that focus on longer-term solutions, rather than on quick fixes, to protect the fragile recovery and reassure financial markets. In some cases, a marked departure from the normal historical pattern of adjustment to rising public debt is needed to manage fiscal risks.
The research is part of the IMF’s ongoing analysis to help countries emerge out of the crisis and return to economic growth and more sustainable debt levels.
Long-Term Trends in Public Finances in the G-7 Economies, Fiscal Space, and Default in Today’s Advanced Economies: Unnecessary, Undesirable and Unlikely provide a comprehensive analysis of the fiscal challenges faced by different countries in the coming years.
Source: IMF
Emerging market dollar-issues soar
Issuance of emerging market dollar-denominated bonds has surged to record levels this year as the cost of borrowing in the US currency has fallen. In August, according to JPMorgan indices, yields on emerging market dollar-enominated debt averaged 5.7 per cent against comparable yields in local currencies of 6.5 per cent
Source: FT.com
September 9, 2010--Exchange-traded funds focused on Latin America and Asia have solidified their leadership position among global equity markets by rising to 52-week highs in recent weeks, according to Vermilion Technical Research.
September 9, 2010--The world economic recovery may be slowing faster than previously anticipated, according the OECD’s latest Interim Economic Assessment. Growth in the Group of Seven countries is expected to be around 1½ per cent on an annualized basis in the second half of 2010 compared with the previous estimate of around 2½ per cent in the OECD’s May Economic Outlook.
September 7, 2010--Global Derivatives Averaged 6.3 Million Contracts per Day in August, Up 8% vs. Prior Year;
Global Derivatives Open Interest of 89 Million Contracts, Up 2%;
U.S. Cash ADV Down 22%, Tape A Market Share Increases to 38%; European Cash ADV Down 2%
September 7, 2010--Governments need to go for world-class quality in their education systems to ensure long-term economic growth, according to the latest edition of the OECD’s annual Education at a Glance.
September 7, 2010--Barclays on Tuesday confirmed Bob Diamond, head of its fast-growing investment bank, as its next chief executive.
September 3, 2010--Much has been written about the Great Moderation and the Great Depression over recent years but much less attention has been paid to the Great De-Rating. That could be about to change. An increasing number of market professionals are asking themselves if the brutal de-rating suffered by equities during the past decade means the cult of equity is dying.
August 2, 2010--The following Dow Jones Index Data Monthly Reports for August 20,2010 are now available:
Index Data Monthly Report: Asia Pacific Edition
Debt problems began before crisis, will take years to fix
Detailed long-term plans to reduce debt would help protect fragile recovery
Credible action by countries essential to manage risks
September 2, 2010--The global economic crisis has eroded the government coffers of advanced economies and countries will need to return debt levels to a sustainable path to manage fiscal risks, foster long-term growth, and create jobs in the coming years.
September 1, 2010--Companies and governments in emerging markets can borrow more cheaply in the dollar than in their own currencies for the first time in two years – in a further boost to buoyant dollar-denominated bond markets.
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