Investor Confidence Index Rises from 79.0 to 82.6 in JulyInvestor Confidence Index Rises from 79.0 to 82.6 in July
July 22 2008 - 10:00AM
Business Wire
State Street Global Markets, the investment research and trading
arm of State Street Corporation (NYSE:STT), today released the
results of the State Street Investor Confidence Index� for July
2008. Global Investor Confidence rose by 3.6 points to 82.6 from a
revised June level of 79.0. Asian investors were the key drivers of
this, as their risk appetite increased by 8.5 points from 74.4 to
82.9. The confidence of North American institutional investors
decreased by 6.9 points to 84.7 while European institutional
investors� confidence fell by negligible 0.9 points to 80.5.
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 by analyzing the actual
buying and selling patterns of institutional investors. The index
is based on financial theory that assigns precise meaning to
changes in investor risk appetite, or the willingness of investors
to allocate their portfolios to equities. The more of their
portfolio that institutional investors are willing to devote to
equities, the greater their risk appetite or confidence. �Globally,
confidence improved somewhat, though this masks some regional
variation,� commented Froot. �Despite the market turmoil of the
recent weeks, particularly in the financial sector, institutional
investors perceive some value at current price levels, and their
willingness to take risk to capture that value continues to improve
from its December lows.� �After witnessing some significant
regional disparities over the last year, this month we saw
convergence across regions,� added O�Connell. �North American
investors were the first to turn pessimistic during the current
cycle, and their risk appetite fell steeply in the fourth quarter
of 2007. It wasn�t until the second quarter of 2008 that European
and Asian investors turned pessimistic, a period when North
American confidence began to recover. With this month�s slight
decline in North America coupled with a rebound in confidence in
both Europe and Asia, investors are more in alignment globally than
they have been for some time.� 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 provider of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $15.3 trillion in assets
under custody and $1.9 trillion in assets under management at June
30, 2008, State Street operates in 26 countries and more than 100
geographic markets worldwide and employs 28,700 worldwide. For more
information, visit State Street�s web site 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 2007
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, July 22, 2008, 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 Jun 2024 to Jul 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jul 2023 to Jul 2024