|Bid||22.00 x 100|
|Ask||25.30 x 100|
|Day's Range||22.16 - 22.27|
|52 Week Range||16.50 - 22.42|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.48%|
Investors are bailing on the Global X MSCI Greece exchange-traded fund (GREK), down 3.3% Wednesday, following another dead-end Eurozone finance minister meeting that ended without the release of bailout money. Between July 3 and July 20, Athens must cough up EUR 6.46 billion ($7.23 billion) to meet debt obligations, but the IMF said Monday that it wants more realistic assumptions about Athens' budget performance after 2018, when the current bailout ends, writes Wolfango Piccoli, an analyst at Teneo Intelligence. The Vanguard FTSE Emerging Markets ETF (VWO) is up 0.2%, while the iShares MSCI Europe Financials ETF (EUFN) and the SPDR S&P Emerging Europe ETF (GUR) are each down 0.4%.
Centrist candidate Macron's win in the French presidential election will likely boost Eurozone, France and Euro ETF in the coming days while other corners of the globe also expected to benefit.
Markets should be breathing easy with fears of European Union dissolution now put to rest, yet the iShares MSCI France Index (EWQ) has fallen more than 2% in pre-market trading Monday. Allianz Investment Management's Todd Hedtke in a published statement also said that the election outcome reduces political uncertainty in Europe and "paves the way for positive developments in the future." BlackRock (BLK) says European shares stand to gain as "Macron's government has an opportunity to make French companies more competitive globally." However, investors should keep in mind that Macron is still a political outsider and French parliamentary elections expected take place on June 11 and 18 will determine how effective Macron will be in delivering on his election promises.