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ISSUE OF 36 NEW COVERED WARRANTS
36 New Covered Warrants were issued last week on the following underlyings: Baclays, Man Group, Rio Tinto, FTSE 100 Index, Gold and S&P GSCI Agricultural Index ER. This new issue renews our range, keeping our products up to date and in line with current market conditions.
Click here to see the full new issue list. |
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SYNTHETIC ZERO
Synthetic Zero meets the needs of investors looking for yield with a potential enhanced performance when compared with current low interest rates. SG's range offers a total return, provided the underlying remains above the protection barrier on the exercise date. They can be held directly or in a SIPP dealing account and there is no minimum trading size, no stamp duty payable and the gains should be eligible to Capital Gains Tax*. *The tax statement is only a general guide and should be treated with appropriate caution. If you are in any doubt as to your tax position, please consult with an appropriate professional tax adviser.
Click here for UK Equity Synthetic Zero Factsheet
Click here for FTSE 100 Synthetic Zero Factsheet
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Free SG Workshops Please click on the below link to access our 2010 seminar calender and details on how to register. Click here
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FT Money Gym By doing this workout you will find out more about the basic principles of Covered Warrants. Click here
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Lyxor ETF Brochure Experts in ETFs since 2001. Lyxor offer over 138 products over multiple asset classes. Click here to download the new brochure
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First edition of STRIKE magazine for 2010 - jam packed with articles to keep you up-to-date on Listed Products, why not try our quiz! Click here |
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Product Range booklet - giving you access to our entire product range in one easy document. Click here
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Special Supplement - we take you on a journey through 20 years of Listed Products. Click here
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| To register for any of these publications, or receive a hard copy, please send an email with your address to: listedproducts@sgcib.com |
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| 8th March 2010 |
This content has been provided by Andrew McHattie from The McHattie Group
Last week was a good one for equities - with the dramatic exception of the insurer Prudential, that is. Prudential shares have suffered a calamitous week, slumping by 14% to 518p after announcing an ambitious expansion move. The company plans to buy the Asian life insurance business of AIG for US$35bn, and because AIG needs to repay money to the government, it will largely be a cash transaction. This means a record US$21bn rights issue for Prudential, which is asking a lot of its investors, who are unsure of the merits of the deal. This is why the shares have been sold off so sharply. The PRU_6.00_Put_18-Jun-10 (SW74) series of covered warrants has risen by 80% in response, and some out-of-the-money puts have risen even more strongly.
Fortunately for the market indices, the move in Prudential was very much against the prevailing trend, which was up. The FTSE 100 Index is flirting with the 5600 level now, having started the week barely over 5400. That’s a good rise, and has provided a timely boost to call covered warrants on the index such as the FTSE 100_5600_Call_19-Mar-10 (SV32) series, up by a dramatic 246% over the week.
Mining stocks were back on good form this week as metals prices rose on news that China is sticking with its economic stimulus programmes. BHP Billiton shares were up by almost 10% to £21.96, tantalisingly close to the strike price of the BLT_22.00_Call_19-Mar-10 (SU71) series, up by 306% on the week. Good gains were also recorded by call covered warrants on Xstrata, Anglo American, and Rio Tinto.
The other main feature of the week was the oil giant BP, which pleased the market with an operational strategy update. The company’s chief executive Tony Hayward outlined plans to increase annual profits by more than US$3bn over the next two to three years. Analysts received the news with some enthusiasm, and BP shares finished the week with a near-6% gain to 612.8p. In response the BP_6.00_Call_19-Mar-10 (SV80) covered warrants rose by 136%.
Andrew McHattie
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| Global Equity Benchmarks |
| Index |
YTD perf |
Weekly perf |
Close |
| FTSE 100 |
3.45% |
4.58% |
5599.76 |
| FTSE 250 |
5.03% |
4.61%
|
9774.72 |
| DJ EUROSTOXX 50 |
-2.95% |
5.46% |
2877.44 |
| DOW JONES IA |
0.94% |
1.95% |
10526.14 |
| NIKKEI 225 |
-1.68% |
2.40% |
10368.96 |
| NASDAQ |
1.21% |
3.53% |
1882.82 |
| Currency Benchmarks |
| Benchmark |
YTD perf |
Weekly perf |
Close* |
| GBP/USD |
-6.40% |
-0.79% |
1.5117 |
| GBP/EUR |
-1.45% |
-0.57% |
1.1111 |
| EUR/USD |
-5.01% |
-0.18% |
1.3606 |
| USD/JPY |
-2.86% |
-1.57% |
90.37 |
| Commodities |
| Benchmark |
YTD perf |
Weekly perf |
Close* |
| Gold |
3.60% |
1.73% |
1136.9 |
| Silver |
2.90%
|
5.52% |
17.385 |
| Oil |
2.36% |
2.32% |
81.53 |
| Volatility Benchmarks |
| Benchmark |
YTD perf |
Weekly perf |
Close |
| VIX |
-18.04% |
-8.87% |
17.77 |
| VDAX |
-16.03% |
-13.54% |
17.5 |
*Mid Price. Source: Bloomberg as at 05/03/2010 |
Andrew McHattie MA (Cantab) founded The McHattie Group investment publishing business. He has been the publisher and editor of the UK’s leading warrants newsletter “Warrants Alert” since its inception in 1989. He also edits a range of other warrant publications and services including “Warrants Alert Professional” and “The Warrants Directory Online.” He is chairman of McHattie Investment Management, and the manager of the McHattie Warrants Alert Fund unit trust. The above text expresses the views of the author and not SG. The McHattie Group is regulated by the Financial Services Authority. Issued in the UK by Societe Generale, a firm authorised by the Banque de France and subject to limited regulation by the Financial Services Authority. Details about the extent of our regulation by the Financial Services Authority are available from us on request. Lyxor and Lyxor etf are trade names of Societe Generale. |
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| Top moving covered warrants for week of 26/02/10 - 05/02/10 |
| Code |
Underlying |
Spot |
Covered Warrant Price* (GBP) |
Covered Warrant Price Move^ |
Type |
Strike |
Expiry |
| UP Movers |
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| SU71 |
BHP BILLITON |
22.17 |
0.08 |
+343.18% |
CALL |
22 |
19 Mar 10 |
| SV32 |
FTSE 100 |
5,596.36 |
0.08 |
+247.93% |
CALL |
5600 |
19 Mar 10 |
| SR89 |
XSTRATA |
11.73 |
1.07 |
+236.48% |
CALL |
11 |
19 Mar 10 |
| SV33 |
FTSE 100 |
5,596.36 |
0.02 |
+233.33% |
CALL |
5800 |
19 Mar 10 |
| SU27 |
FTSE 100 |
5,596.36 |
0.14 |
+214.69% |
CALL |
5500 |
19 Mar 10
|
| DOWN Movers |
| SV41 |
FTSE 250 |
9,769.39 |
0.03 |
-81.27% |
PUT |
9000 |
19 Mar 10 |
| SV48 |
NIKKEI 225 |
10,510.00 |
0.04 |
-75.94% |
PUT |
10000 |
19 Mar 10 |
| SW72 |
PRUDENTIAL |
5.11 |
0.06 |
-72.21% |
CALL |
7 |
18 Jun 10 |
| SV60 |
SILVER |
17.44 |
0.23 |
-70.22% |
PUT |
17 |
19 Feb 10
|
| SW15 |
GOLD
|
1,139.00 |
0.04 |
-68.46% |
PUT |
1100 |
19 Mar 10 |
To access the full covered warrants list, please visit www.sglistedproducts.com or send a request by email to listedproducts@sgcib.com
*Mid Price. ^Offer to Bid. Source: SG as at 05/03/2010. The definition of the underlined financial terms is available by clicking on the term. >> Selftrade website - Covered warrants section
| Lyxor ETF Update |
| Lyxor Exchange Traded Funds (ETFs) are passively managed index tracking funds listed on the London Stock Exchange. Lyxor and Lyxor ETF are names used by Société Générale to promote the products of Lyxor Asset Management. |
| Index |
TIDM |
First listing |
Monthly Perf^ |
Week on week Perf^ |
Closing price* (GBp)
|
| FTSE 100 |
L100 |
15/05/07 |
7.40% |
4.28% |
991.63 |
| MSCI Emerging Markets |
LEME |
14/01/08 |
12.68% |
4.01% |
659.50 |
| Reuters/Jefferies CRB index |
LCTY |
28/06/07 |
9.74%
|
1.52% |
1794.63
|
| Reuters/Jefferies CRB Non-Energy index |
LCNE |
28/06/07 |
8.45% |
1.19% |
1531.13 |
To access the full ETF list and ETF brochure, please visit www.lyxoretf.co.uk or send a request by email to info@lyxoretf.co.uk
*Mid Price Source: Bloomberg as at 05/03/2010. In accordance with the Rules of the Financial Services Authority it is not possible to show the past performance of Lyxor ETF's which are less than 12 months since their launch. Past Performance is not a reliable indication of future performance. >> Selftrade website - ETFs section
Disclaimer
Listed Products are not suitable for everyone. You should not deal in Listed Products unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in the light of your circumstances and financial position. This disclaimer cannot disclose all the risks and other significant aspects of Listed Products. If you are in any doubt you should consult an appropriately qualified financial advisor.
Lyxor ETFs are open-ended mutual investment funds established under French Law and approved by the Autorite des Marches Financiers. The funds are UCIT III compliant however only those funds recognised under S.264 of the Financial Services and Markets Act 2000 may be promoted to retail investors in the UK. A list of recognised funds with prospectus is maintained on www.lyxoretf.co.uk. Any investment in Lyxor ETFs carries with it certain risks set out in the Prospectus. Lyxor ETFs are not suitable for all investors, it is recommended that potential investors study the Prospectus and seek their own independent financial advice before making any decision to invest in Lyxor ETFs. SG Option Europe may be the only market maker. Investors' capital is at risk. |
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