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Euro area quarterly balance of payments and international investment position (first quarter of 2015)
July 9, 2015--The current account of the euro area showed a surplus of &euro238.2 billion (2.3% of euro area GDP) in the four quarters to the first quarter of 2015.
At the end of the first quarter of 2015 the international investment position of the euro area recorded net liabilities of &euro€1.3 trillion (approximately 13% of euro area GDP).
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Source: ECB
Greece given Sunday deadline for debt deal
July 8, 2015--04:47 CET-European leaders gave debt-stricken Athens a final deadline of Sunday to reach a new bailout deal and avoid crashing out of the euro,
after Greek voters rejected international creditors' plans in a weekend referendum.
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Source: EUbusiness
Euronext Said to Aim to Appoint Its New CEO by Late September
July 8, 2015--Euronext NV plans to appoint a new chief executive officer by late September, according to a person familiar with the hunt for a permanent replacement to Dominique Cerutti.
The stock exchange operator's board is putting together a list of 10 to 15 names including external candidates, said the person, who declined to be identified because the discussions are confidential.
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Source: Bloomberg
Launch of a new product range listed on Euronext Brussels: SOCIETE GENERALE (FR) TURBOS INFINIS BEST
July 8, 2015--For the first time on Euronext Brussels, Societe Generale is launching a new range of listed products called: SOCIÉTÉ GÉNÉRALE (FR) TURBOS INFINIS BEST.
These products are leveraged products, aimed at enhancing returns on the short-term or at hedging investors portfolio on the medium term. The underlying asset can be a single stock, an index or a currency pair, etc. with a tailor-made gearing.
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Source: Euronext
Nine State Street ETFs launched on Xetra
ETFs offer first-time access to sectors of the S&P 500 Select Sector index family
July 8, 2015--Nine new exchange-listed sector index funds issued by SPDR (State Street Global Advisors) have been tradable on Xetra and Börse Frankfurt since Wednesday.
The new SPDR ETFs track the performance of US stock corporations from the S&P 500's Select Sector index family and enable investors to participate for the first time in the performance of the following sectors: consumer staples and discretionary, energy, financials, health care, materials, industrials, technology and utilities.
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Source: Xetra
Parliament adopts CO2 market stability reserve
July 8, 2015--A reform of the EU Emissions Trading Scheme (ETS), informally agreed with the Latvian Presidency of the Council, was endorsed by Parliament on Wednesday.
The reform is intended to reduce the surplus of carbon credits available for trading in order to support the price of the emission rights. The scheme will start operating in 2019.
The new law creates a system that will automatically take a portion of ETS allowances off the market and place it in a reserve if the surplus exceeds a certain threshold. In the opposite scenario, allowances could be returned to the market. The surplus of emission allowances, which has been building up in the system since 2009, is estimated at over 2 billion.
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Source: European Parliament
Climate: EU Parliament backs reform of carbon market
July 8, 2015--The European Parliament on Wednesday approved plans to overhaul the Europe Union's carbon market, a key part of strategies to curb the EU's global-warming emissions.
Under reforms due to take effect in 2019, the Emissions Trading System (ETS) will set aside a portion of carbon credits if the surplus of emission allowances on the market exceeds a certain threshold.
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Source: EUbusiness
A record level of 40 billion US dollars in net new assets was gathered by ETFs and ETPs listed in Europe in the first half of 2015 according to ETFGI
July 8, 2015--A record level of US$40 billion in net new assets (NNA) was gathered by ETFs and ETPs listed in Europe in the first half of 2015, surpassing the prior record of US$32 billion gathered in the first half of 2014, according to ETFGI's preliminary ETF and ETP global insights report for the first half of 2015.
At the end of June 2015, the European ETF/ETP industry had 2,118 ETFs/ETPs, with 6,502 listings, assets of US$499 Bn, from 50 providers listed on 25 exchanges in 21 countries.
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Source: ETFGI
LSE July 2015 ETF & ETP Monthly Report
July 7, 2015News
London Stock Exchange's ETF team hosted a panel at the Greater China Forum held in Hong Kong on 15 June 2015.
The panel discussed the reasons underlying growth of ETFs, latest product innovations, investor access to ETFs and the importance of liquidity. They also explored RQFII space and agreed that there is demand for more product launches to provide exposure to Chinese equity sector, Fixed Income and smart beta strategies
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Source: London Stock Exchange Group
IMF Country paper-Italy: Selected Issues
July 7, 2015--DOES PUBLIC SECTOR IN EFFICIENCY CONSTRAIN FIRM PRODUCTIVITY: EVIDENCE
FROM ITALIAN PROVINCES1
This paper establishes a causal link between public sector efficiency at the provincial level and firm
productivity using
data for about 450,000 Italian firms.
Significant productivity gains could be realized if public sector efficiency improved from currently low levels.
If efficiency rose to the frontier in all provinces, outputper employee would increase 9 percent for the average firm.
Implementing the public adminstration reform agenda and recommendations of the 2014 spending review and competition aut hority could help deliver some of these productivity gains.
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Source: IMF
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