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ECB promises more rate hikes after unprecedented increase
September 8, 2022--Raises deposit rate to 0.75% from zero
Euro zone inflation uncomfortably high and rising
New ECB forecasts show higher inflation, lower growth
More rate hikes flagged
Downside growth scenario already materialising
The European Central Bank raised its key interest rates by an unprecedented 75 basis points on Thursday and promised further hikes, prioritising the fight against inflation even as the bloc is likely heading towards a winter recession and gas rationing.
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Source: reuters.com
ESMA publishes latest edition of its Newsletter
September 7, 2022-The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today published its latest edition of its Spotlight on Markets Newsletter.
Your one-stop-shop in the world of EU financial markets features in the August issue the second Trends, Risks and Vulnerabilities (TRV) Report of 2022. The Russian war on Ukraine against a backdrop of already-increasing inflation has profoundly impacted the risk environment of EU financial markets, with overall risks to ESMA’s remit remaining at its highest level.
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Source: ESMA
New thematic ETFs from L&G on Xetra: sustainable investments in innovative trends from the fields of cyber security, photonics and metaverse
September 7, 2022--Four new exchange-traded funds issued by Legal & General Investment Management have been tradable on Xetra and via the trading venue Börse Frankfurt since Wednesday.
The L&G ESG Exclusions UCITS ETFs offer investors access to companies with a thematic focus, considering ESG criteria. The reference indices from the Solactive index family exclude companies that are included in the ESG Exclusions Enhanced Index.
The products invest optionally in the areas of cyber security, photonics and metaverse.
The L&G ESG Emerging Cyber Security ESG Exclusions UCITS ETF focuses on global companies that offer cyber security products and services. The theme deals with security procedures in the transmission, securing and handling of data as well as hardware equipment to ensure digital security.
The L&G ESG Optical Technology & Photonics ESG Exclusions UCITS ETF focuses on the theme of optical technology and photonics. Optical technology deals with the properties of light and supports the development of innovations in areas such as mechanical and automotive engineering, pharmaceuticals, and medical technology. Photonics is about processes and technologies in the transmission, storage, and processing of information.
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Source: Xetra
New thematic ETF from Franklin LibertyShares on Xetra: access to metaverse companies
September 7, 2022--A new exchange-traded fund issued by Franklin LibertyShares has been tradable on Xetra and via Börse Frankfurt since Wednesday.
The Franklin Metaverse UCITS ETF gives investors access to a portfolio of companies worldwide that are significantly involved in providing products and services to the metaverse and supporting blockchain technologies.
The metaverse is a shared 3D virtual world that connects digital technologies. It is a development that goes beyond the internet and enables users to experience an interactive world. These include companies involved in metaverse technology, platforms, and devices, blockchain technology and blockchain platforms for digital assets.
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Source: Xetra
New thematic ETF from VanEck on Xetra: sustainable investment in genomic and digital healthcare
September 7, 2022--Since Wednesday, a new exchange-traded fund issued by VanEck has been tradable on Xetra and via Börse Frankfurt.
The VanEck Genomics and Healthcare Innovators UCITS ETF offers investors access to sustainable companies in the field of genomic and digital healthcare.
Genomics companies are developing new ways to treat health problems such as genetic disorders, cancer, and age-related diseases. These include gene therapies, including laboratory equipment and services for testing and coding, which primarily treat genetic diseases.
Digital healthcare focuses on easy access to doctors, physiotherapists, nurses, and pharmacies. Business areas such as software providers for telemedicine and administration, online pharmacies, and ambulatory internet of things for remote monitoring of health indicators are considered.
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Source: Xetra
Investors exit European equity ETFs at fastest pace since Brexit
September 7, 2022--Outflows of $7.7bn in August reflect deepening gloom as fears about recession grow
Investors pulled money from European equity exchange traded funds in August at the fastest pace since the 2016 Brexit referendum as fears of recession mounted.
The $7.7bn withdrawn from the sector was the sixth straight month of net outflows, and second only to the $8.9bn of net selling recorded in July 2016, according to data from BlackRock, reflecting the darkening sentiment across the continent.
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Source: ft.com
Five theme-based ETFs from Fidelity on Xetra for the first time: clean energy, mobility, telemedicine, cloud computing and metaverse
September 6, 2022--Five theme-oriented exchange-traded funds issued by Fidelity have been tradable for the first time on Xetra and via the trading venue Börse Frankfurt.
With the five ETFs, investors can invest in a global universe of companies that cover different thematic focuses and fulfil ESG criteria.
The Clean Energy theme focuses on technologies and equipment that contribute to energy production from solar, wind, hydrogen, and other renewable sources.
Vehicles and Future Transportation deals with future mobility such as the production of electric vehicles, lithium batteries, charging stations as well as power supply devices, sensors, and GPS.
Digital Health focuses on health data management, connected health equipment, surgical robotics, telemedicine and other technology-enabled health products and services.
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Source: Xetra
Deutsche Boerse welcomes AXA IM as new ETF issuer on Xetra
September 6, 2022--Actively managed ETF with focus on biodiversity
Since Tuesday, AXA Investment Managers' first exchange-traded fund is tradable on Xetra and via the trading venue Börse Frankfurt.
The AXA IM ACT Biodiversity Equity UCITS ETF offers investors access to an actively managed portfolio of global exchange traded companies focused on biodiversity protection.
The investment focus is on selecting companies with attractive fundamentals that seek to provide solutions for the protection of land and water, fauna and flora, and sustainable consumption.
The fund aims to promote the United Nations Sustainable Development Goals (SDGs), with a focus on clean water and sanitation, sustainable consumption, life under water and life on land.
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Source: Xetra
Research: UK official holdings of international reserves: August 2022
September 5, 2022--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk
Austria: 2022 Article IV Consultation-Press Release; Staff Report
September 2, 2022--Summary:
Austria is highly vulnerable to spillovers from the war in Ukraine given its high dependence on energy imports from Russia, deep integration into global value chains, and large banking exposures.
After high growth in the first half of 2022, growth is projected to fall sharply through 2023 due to impact of the war and the related energy crisis. Over the medium term, annual growth is projected to stabilize around 1¾ percent. However, output will remain below the pre-crisis trend. Uncertainty is extraordinarily high with significant downside risks.
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Source: IMF.org
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