|Day's Range||18.19 - 18.35|
|52 Week Range||12.22 - 18.35|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.60%|
While there will be a runoff election for French president, that far-right nationalist Marine Le Pen didn't win outright has breathed a sigh of relief into investments in Eastern Europe this week. The ...
A number of exchange-traded funds invested in emerging markets are hitting new 52-week highs today, and funds invested in Poland, Nigeria, Greece and the Philippines are up more than 2% in midday trading. With the French presidential election runoff favoring Emmanuel Macron over far-right candidate, Marie Le Pen, who might challenge the unity of the European Union, Eastern European investments are the biggest winners this week: the VanEck Vectors Poland ETF (PLND) is up 7%, the iShares MSCI Poland Capped ETF (EPOL) is up 6.7%, the Global X MSCI Greece ETF (GREK) is up 6.8% and the SPDR S&P Emerging Europe ETF (GUR) is up 4.7%. Meanwhile the iShares MSCI Emerging Markets ETF (EEM) is up 2.3% this week.
Poland is at the front of the line among beneficiaries of free trade with Europe, but the nation's "combative" government may need to refine its tactics, Societe General analysts say. The MSCI Poland index of large and mid-cap companies has been the strongest performer so far this year as we noted in this week's Barron's emerging markets column. Having just returned from a recent visit to Poland, Societe Generale analysts Phoenix Kalen and Jaroslaw Janecki offered some convenient explanation in a lengthy report today: " ... Following reasonable GDP growth of 2.8% in 2016, local economists anticipate Poland’s GDP to grow about 3% this year (SG forecast: 3.3%, Bloomberg consensus: 3.2%), and to continue a similar pace of expansion in 2018.