Investor Confidence Index Rises to 82.5 in OctoberState Street Investor Confidence Index: October 2006 (Graphic: Business Wire)
October 24 2006 - 10:00AM
Business Wire
State Street Global Markets, the investment research and trading
arm of State Street Corporation (NYSE:STT), released today the
results of the State Street Investor Confidence Index� for October
2006. According to the October index, investor confidence increased
by 1.8, to 82.5 from September�s revised reading of 80.7. Looking
regionally, the confidence of North American institutional
investors rose from 92.8 to 94.4. The confidence of Asian investors
increased to 94.2 from 90.7 and the confidence of European
investors rose strongly from 88.9 to 96.2. Developed through State
Street Global Markets� research partnership, State Street
Associates, by Harvard University professor Ken Froot and State
Street Associates Director Paul O�Connell, the State Street
Investor Confidence Index� measures investor confidence on a
quantitative basis, analyzing actual buying and selling patterns of
institutional investors. The index is based on financial theory
that assigns precise meaning to changes in investor risk sentiment,
or the willingness of investors to hold proportionally more or less
of their portfolio in equities. The more of their portfolio that
institutional investors are willing to devote to equities, the
greater their risk appetite or confidence. �This month saw a
partial resolution of the tension we mentioned last month between
news of a slow-down in U.S. property and declining commodity
prices,� said Froot. �The tie-breaker was the continued strength in
Q3 corporate earnings, which gave investors encouragement with
respect to medium-term growth forecasts.� �Institutional investors
continue to show confidence in the consumer sectors, underpinning
the belief that growth will not be hobbled by weakness in property
markets,� added O�Connell. �This was most evident amongst Asian
investors, where confidence rose to an all-time high, but risk
appetite among European investors also rose sharply.� Since its
launch in September of 2003, the State Street Investor Confidence
Index� has become a key economic indicator for asset owners,
investment managers and central banks. As the only index providing
a quantitative measure tracking the common buying patterns of
institutional investors around the world, the State Street Investor
Confidence Index� offers a unique look into the investment behavior
and decisions of thousands of professional investors and their
investment decisions. About State Street Global Markets: State
Street Global Markets provides specialized investment research and
trading in foreign exchange, equities, fixed income and
derivatives. Its goal is to enhance and preserve portfolio values
for asset managers and asset owners. From its unique position at
the crossroads of the global markets, it creates and unlocks value
for its clients with original flow-based research, innovative
portfolio strategies, trade process optimization, and global
connectivity across multiple asset classes and markets. State
Street Global Markets� research team of leading academic and
industry experts is committed to continually advancing the science,
including theory and application of its proprietary investor
behavior research and innovative portfolio & risk management
technologies to help its clients challenge conventional thinking,
shape ideas, make more informed investment decisions and deliver
measurable results. About the State Street Investor Confidence
Index�: The index is released globally at 10 a.m. Eastern time in
Boston on the second to last Tuesday of each month. More
information on the State Street Investor Confidence Index,
including frequently asked questions and a calendar of release
dates, is available at
http://www.statestreet.com/investorconfidenceindex. The previous
month�s calculations for the index are revised to account for
trading activity through the end of the reporting period. About
State Street: State Street Corporation (NYSE: STT) is the world's
leading specialist in providing institutional investors with
investment servicing, investment management and investment research
and trading. With $11.3 trillion in assets under custody and $1.6
trillion in assets under management as of September 30, 2006, State
Street operates in 26 countries and more than 100 geographic
markets worldwide. For more information, visit State Street�s
website at www.statestreet.com. This news announcement contains
forward-looking statements as defined by United States securities
laws, including statements about the financial outlook and business
environment. Those statements are based on current expectations and
involve a number of risks and uncertainties, including those
related to the pace at which State Street adds new clients or at
which existing clients use additional services, the value of global
and regional financial markets, the pace of cross-border investment
activity, changes in interest rates, the pace of worldwide economic
growth and rates of inflation, the extent of volatility in currency
markets, consolidations among clients and competitors, State
Street�s business mix, the dynamics of markets State Street serves,
and State Street�s success at integrating and converting
acquisitions into its business. Other important factors that could
cause actual results to differ materially from those indicated by
any forward-looking statements are set forth in State Street's 2005
annual report and subsequent SEC filings. State Street encourages
investors to read the corporation's annual report, particularly the
section on factors that may affect financial results, and its
subsequent SEC filings for additional information with respect to
any forward-looking statements and prior to making any investment
decision. The forward-looking statements contained in this press
release speak only as of the date hereof, October 24, 2006, and the
company will not undertake efforts to revise those forward-looking
statements to reflect events after this date. State Street Global
Markets, the investment research and trading arm of State Street
Corporation (NYSE:STT), released today the results of the State
Street Investor Confidence Index(R) for October 2006. According to
the October index, investor confidence increased by 1.8, to 82.5
from September's revised reading of 80.7. Looking regionally, the
confidence of North American institutional investors rose from 92.8
to 94.4. The confidence of Asian investors increased to 94.2 from
90.7 and the confidence of European investors rose strongly from
88.9 to 96.2. Developed through State Street Global Markets'
research partnership, State Street Associates, by Harvard
University professor Ken Froot and State Street Associates Director
Paul O'Connell, the State Street Investor Confidence Index(R)
measures investor confidence on a quantitative basis, analyzing
actual buying and selling patterns of institutional investors. The
index is based on financial theory that assigns precise meaning to
changes in investor risk sentiment, or the willingness of investors
to hold proportionally more or less of their portfolio in equities.
The more of their portfolio that institutional investors are
willing to devote to equities, the greater their risk appetite or
confidence. "This month saw a partial resolution of the tension we
mentioned last month between news of a slow-down in U.S. property
and declining commodity prices," said Froot. "The tie-breaker was
the continued strength in Q3 corporate earnings, which gave
investors encouragement with respect to medium-term growth
forecasts." "Institutional investors continue to show confidence in
the consumer sectors, underpinning the belief that growth will not
be hobbled by weakness in property markets," added O'Connell. "This
was most evident amongst Asian investors, where confidence rose to
an all-time high, but risk appetite among European investors also
rose sharply." Since its launch in September of 2003, the State
Street Investor Confidence Index(R) has become a key economic
indicator for asset owners, investment managers and central banks.
As the only index providing a quantitative measure tracking the
common buying patterns of institutional investors around the world,
the State Street Investor Confidence Index(R) offers a unique look
into the investment behavior and decisions of thousands of
professional investors and their investment decisions. About State
Street Global Markets: State Street Global Markets provides
specialized investment research and trading in foreign exchange,
equities, fixed income and derivatives. Its goal is to enhance and
preserve portfolio values for asset managers and asset owners. From
its unique position at the crossroads of the global markets, it
creates and unlocks value for its clients with original flow-based
research, innovative portfolio strategies, trade process
optimization, and global connectivity across multiple asset classes
and markets. State Street Global Markets' research team of leading
academic and industry experts is committed to continually advancing
the science, including theory and application of its proprietary
investor behavior research and innovative portfolio & risk
management technologies to help its clients challenge conventional
thinking, shape ideas, make more informed investment decisions and
deliver measurable results. About the State Street Investor
Confidence Index(R): The index is released globally at 10 a.m.
Eastern time in Boston on the second to last Tuesday of each month.
More information on the State Street Investor Confidence Index,
including frequently asked questions and a calendar of release
dates, is available at
http://www.statestreet.com/investorconfidenceindex. The previous
month's calculations for the index are revised to account for
trading activity through the end of the reporting period. About
State Street: State Street Corporation (NYSE: STT) is the world's
leading specialist in providing institutional investors with
investment servicing, investment management and investment research
and trading. With $11.3 trillion in assets under custody and $1.6
trillion in assets under management as of September 30, 2006, State
Street operates in 26 countries and more than 100 geographic
markets worldwide. For more information, visit State Street's
website at www.statestreet.com. This news announcement contains
forward-looking statements as defined by United States securities
laws, including statements about the financial outlook and business
environment. Those statements are based on current expectations and
involve a number of risks and uncertainties, including those
related to the pace at which State Street adds new clients or at
which existing clients use additional services, the value of global
and regional financial markets, the pace of cross-border investment
activity, changes in interest rates, the pace of worldwide economic
growth and rates of inflation, the extent of volatility in currency
markets, consolidations among clients and competitors, State
Street's business mix, the dynamics of markets State Street serves,
and State Street's success at integrating and converting
acquisitions into its business. Other important factors that could
cause actual results to differ materially from those indicated by
any forward-looking statements are set forth in State Street's 2005
annual report and subsequent SEC filings. State Street encourages
investors to read the corporation's annual report, particularly the
section on factors that may affect financial results, and its
subsequent SEC filings for additional information with respect to
any forward-looking statements and prior to making any investment
decision. The forward-looking statements contained in this press
release speak only as of the date hereof, October 24, 2006, and the
company will not undertake efforts to revise those forward-looking
statements to reflect events after this date.
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024