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BIS: Dollar Invoicing, Global Value Chains, And The Business Cycle Dynamics Of International Trade

Date 28/04/2020

Focus

This paper studies how US dollar invoicing and the rise of global value chains (GVCs) affects the relationship between monetary policy, exchange rates and international trade.

The Armchair Trader Launches Recovery Market Stock Picking Competition To Support The NHS

Date 28/04/2020

Today sees the launch of a stock picking competition from The Armchair Trader for investors who are following recovery trends within the global equities markets. Sponsored by AvaTrade, our competition has a total jackpot of more than £5000 in prize gifts. It is also designed to raise money for the NHS as it battles to save the lives of victims of COVID-19.

BIS: Covid-19 And Corporate Sector Liquidity

Date 28/04/2020

Key takeaways

• The Covid-19 shock is placing enormous strains on corporates cash buffers. Corporate financial statements from 2019 suggest that 50% of firms do not have sufficient cash to cover total debt servicing costs over the coming year.
• Credit lines could provide firms with additional liquidity. On average undrawn credit stood around 120% of debt servicing costs at end 2019. However, access is uneven and banks may be reluctant to renew or extend them in the current environment.
• Sticky operating expenses result in many firms running operating losses, placing an additional burden on cash buffers. Estimates indicate that following a 10% drop in revenues, operating expenses only fall by 6% on average.
• Simulations suggest that if revenues fall by 25% in 2020, then closing the entire funding gap with debt would raise firm leverage by around 10 percentage points.

Qatar Stock Exchange Launches A Distance Learning Program For The Public

Date 28/04/2020

In line with the social responsibility of Qatar Stock Exchange (QSE) and the precautionary measures taken to combat the Covid-19, the QSE’s Marketing and Communications Department launched a distance learning program, which includes free online courses for the public.  The courses, which will be given by a group of specialized university professors and QSE experts, are aimed to promote securities investment and trading awareness among various segments of the local community.

April 2020 Euro Area Bank Lending Survey

Date 28/04/2020

• Tighter credit standards for loans to enterprises and households
• Surge in firms’ demand for loans due to coronavirus pandemic emergency liquidity needs
• Bank lending conditions ease with ECB’s targeted longer-term refinancing operations
• ECB’s asset purchases support banks’ liquidity positions and market financing conditions

ACER To Decide On Cost Sharing Methodology Ensuring Firmness And Remuneration Of Long-Term Transmission Rights

Date 28/04/2020

The European Union Agency for the Cooperation of Energy Regulators (ACER) will decide the methodology for sharing costs incurred to ensure firmness and remuneration of long-term transmission rights for electricity.

Oslo Børs: Optiq Cash – Next EUA New SBE Template 300

Date 28/04/2020

FXCM Launches Commission-Free Share CFD Trading

Date 28/04/2020

FXCM Group, LLC (“FXCM Group’ or ‘FXCM’), a leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, has launched commission-free single-stock CFD trading (share CFDs), enabling retail clients to trade CFDs on individual company shares like Tesla, Apple, Facebook, and others.  FXCM will be gradually rolling out the new single stock CFDs to its entire client base over the coming weeks.

Moscow Exchange Announces AGM Results

Date 28/04/2020

Moscow Exchange (MOEX) held its Annual General Meeting of Shareholders (AGM) on 28 April 2019.

ETFGI Reports That ETFs And ETPs Listed In Europe Reported Net Outflows Of US$22.83 Billion At The End Of March 2020

Date 28/04/2020

ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that ETFs and ETPs listed in Europe reported net outflows of 
US$22.83 billion at the end of March, the largest monthly outflow for Europe, bringing year-to-date net outflows to US$1.63 billion. Assets invested in the European ETFs/ETPs industry have decreased by 12.3%, from US$997.31 billion at the end of February, to US$874.87 billion, according to ETFGI's March 2020 European ETFs and ETPs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)