LISTED PRODUCT NEWS June 2, 2010 ISHARES LAUNCHES POLAND ETF IN US BlackRock’s exchange-traded fund division iShares yesterday launched a fund on NYSE Arca in the US which gives exposure to the Polish stockmarkets. The ETF tracks the MSCI Poland Investable Market index, which measures the performance of the top 99 per cent of equity securities listed on stock exchanges in [...]
Big oil will live on, but faces a harder future June 2, 2010 AS BP steps up its efforts to stem the oil leak in the Gulf of Mexico, the speculation surrounding the costs associated with the clean-up continues to increase. BP estimates that the cost will be roughly $4bn, while some analysts predict that the clean-up, along with related lawsuits, could be as high as $10bn. While [...]
BP’s fall makes the FTSE more diverse June 2, 2010 THE importance of BP, which makes up close to 5 per cent of the entire FTSE All Share Index, has come into sharp relief since the explosion on the Deepwater Horizon oil well in April. The stock has fallen more than 30 per cent, whereas the FTSE All Share Index has fallen by 12 per [...]
Being more like the Special One can boost your City success June 2, 2010 JOSE MOURINHO is a man who knows how to win trophies. But another aspect of his careers is almost as impressive – his ability to stay friendly with his employers when he has moved on. Even though he is leaving his most recent club Inter Milan in the lurch, its president Massimo Moratti apparently made [...]
Diversify your exposure June 1, 2010 NAVIGATING market volatility is always tough for any fund manager seeking to generate alpha and the ongoing sovereign debt and banking crisis in Europe has been a definite test of managers’ mettle. Recent data shows that worried investors have been redeeming assets held in funds. Outflows from European equity funds in the week ending 19 [...]
Bond markets could be about to change gear June 1, 2010 SOVEREIGN risk has risen as the debt problems facing Greece have come out into the open. And volatility in the bond markets is likely to continue after Fitch, the ratings agency, downgraded Spain late last week, reigniting concerns about credit risks. All of this has caused a massive divergence in bond yields and countries perceived [...]
NET INCOME – AND GROSS DEBT HABITS June 1, 2010 DICK TURPIN MANAGING DIRECTOR, ARTEMIS DEBT is the issue. The sub-prime parcel went round and round. But governments simply nationalised that $2 trillion when the music of Lehman Brothers and others stopped in September 2008. At $9 trillion, the combined public and private debt of the troubled European countries is another matter altogether, demeaning markets [...]
FUND MANAGEMENT NEWS June 1, 2010 GUINNESS FAMILY OFFICE’S NEW FUND Iveagh Private Investment House – home of the Guinness family’s office – along with 47 Degrees North Capital Management have launched the new Iveagh Newcits Fund at the start of June. This is a fund of Ucits hedge funds that is within a Ucits structure, which offers investors – both [...]
The chances of a strong pound are still bleak June 1, 2010 SO WHAT now for the pound? Not even a Conservative-led coalition and a credible plan to cut public spending has been enough to lift the UK currency out of its malaise – it has fallen 5 per cent against the dollar in the past month and has been unable to break above the €1.18 mark [...]
The dollar is a tough act to follow June 1, 2010 WITH speculation growing that the dollar could be forming a short-term top, Deutsche Bank has released research suggesting “an increasing likelihood of dollar correction”. The bank suggests that the dollar’s rally to over two standard deviations above its 200-day moving average is a strong indicator that a dip could be imminent. As the bank reports, [...]
