|Bid||26.55 x 39400|
|Ask||26.57 x 1400|
|Day's Range||26.89 - 26.99|
|52 Week Range||23.20 - 30.94|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.37|
|Expense Ratio (net)||0.47%|
The euro zone's third-largest nation has plunged into deep political and economic crisis, which has become a concern for the European Union (EU) as well as for the global markets. At the end of Sept. 2018, the ruling coalition comprising the Five Star Movement and the Lega Nord announced their 2019 budget, which increases deficit spending to 2.4 percent of the gross domestic product (GDP). The move has upset Italy's eurozone partners, who had been pressuring Italy to decrease its debt.
Italy, the Eurozone’s third-largest economy, entered a recession last year, but exchange traded funds, such as the iShares MSCI Italy Capped ETF (NYSEArca: EWI) and the Franklin FTSE Italy ETF (NYSEArca: ...
Italian stocks and country-specific ETFs have been outperforming in the Eurozone region despite the ongoing uncertainty around the Southern European country and its troubled banking sector. Over the past three months, the iShares MSCI Italy Capped ETF (EWI) increased 6.3% and Franklin FTSE Italy ETF (FLIY) advanced 5.9%, whereas the benchmark MSCI Europe Index added 2.7%. Italy's economy dipped into a recession in the fourth quarter of 2018, and political volatility may persist as analysts argued that the governing coalition of the anti-immigration League party and the antiestablishment 5 Star Movement may not survive the year, the Wall Street Journal reports.
The iShares MSCI Italy Capped ETF (EWI) , the largest US-listed exchange traded fund dedicated to Italian equities, is rebounding after a dismal 2018. Italy is the Eurozone’s third-largest economy behind Germany and France. There are also increasing concerns that Italy is inching toward a recession.
No Recession Ahead, Says Allianz Chief Mohamed El-Erian Former PIMCO CEO and former head of Harvard’s endowment Mohamed El-Erian doesn’t think a recession is ahead of us in 2019. “You would need either a major policy mistake or a massive market accident to push us into recession.” Seemingly, according to El-Erian, 7 years of zero percent interest […] The post Market Morning: Happy New Year, Brexit Backtrack, Sears Saved, Italy Passes Budget appeared first on Market Exclusive.
Amid political volatility and concerns about the pace of economic growth, the iShares MSCI Italy Capped ETF (EWI) , the largest US-listed exchange traded fund dedicated to Italian equities, is down 21.65% this year. Some market observers believe Italian equities face more downside in 2019. Italy is the Eurozone's third-largest economy behind Germany and France.
This Week In the Economy Last week closed off with a surprise jump in producer prices, the Producer Price Index (PPI) rising 0.6% sequentially, 3x faster than the expected print of 0.2%. Producer prices are still rising at just below 3% annually, excluding food and energy. This week those numbers will be reinforced with Consumer […] The post Market Morning: GE Clobbered, Alibaba Singled Out, Oil Tremors, Italian Showdown appeared first on Market Exclusive.
EU has demanded the Populist government in Rome to make changes in their budget plans giving them three weeks time, putting EWI in focus.
The iShares MSCI Italy Capped ETF (EWI) , the largest US-listed exchange traded fund dedicated to Italian equities, is lower by nearly 17%, making it one of the worst-performing single-country ETFs tracking a developed economy and challenges are mounting, not abating, for Italy's economy. Increased uncertainty regarding government efforts to enhance Italy's fiscal status is weighing on the minds of some investors. “The Italian stress scenario assumes that the Lega and the Five Star Movement coalition government presents expansive budgets for both 2019 and 2020, which rattles bond markets and rating agencies, leading to acute financial market turbulence,” said Markit in a recent note.
The iShares MSCI Italy Capped ETF (NYSEArca: EWI), the largest US-listed exchange traded fund dedicated to Italian equities, is lower by more than 16% year-to-date. That is enough to make EWI one of the ...
Italy country-specific exchange traded fund popped on a relief rebound and pared some of its losses Friday after the European market plunged in response to a questionable budget and government bond yields pushed toward a four-year high. The iShares MSCI Italy Capped ETF (EWI) was among the better performing ETFs of Friday, rising 2.1%, after plummeting 3.2% on Thursday. On Thursday, the European Commission formally notified Italy that its 2019 budget plans were a serious problem and required "clarification" over the "unprecedented" deviation from E.U. rules, AFP News reported.
Relief rally in Italian equities and country-specific ETF led global market gains Monday after Italy’s finance minister assuaged investors over the government’s spending plans. On Monday, the iShares MSCI Italy Capped ETF (EWI) jumped 3.0%. In contrast, the broad region-related Vanguard FTSE Europe ETF (VGK) was 0.9% higher.
The iShares MSCI Italy Capped ETF (EWI) continues struggling. At least one major ratings agency is taking a pessimistic view of Italy. Last week, Fitch Ratings revised its outlook on Italy's Long-Term Foreign-Currency Issuer Default Rating (IDR) to negative from stable.
Italy ETFs were among the few areas of strength in international markets Tuesday after the Italian debt market gained and yields declined from four year highs in response to Fitch Ratings decision to leave the country's credit rating unchanged. On Tuesday, the iShares MSCI Italy Capped ETF (EWI) rose 1.3%. Italian bond yields dipped after Fitch left its credit rating unchanged at BBB but revised its outlook to negative, Reuters reports.
European stocks and the related exchange traded funds are struggling this year, a point highlighted by the iShares MSCI Italy Capped ETF (EWI) . The sudden decline in Italian assets intensified on worries that the Eurozone’s third largest state could exit the bloc and may even trigger further breakdown in the euro currency union after the Five Star Movement and the League – two Euroskeptic parties – formed a coalition. Some market observers are concerned about the health of Italy's bond market.
Investors are continuing to whip the market back and forth on trade concerns, but the recent focus is a bit different. If you have been following the news, you know that the governments in the U.S. and Turkey are in dispute about trade tariffs and the return of a U.S. national, Andrew Brunson, who the Turkish government has accused of being involved in an alleged 2016 coup attempt. The dispute over Brunson has likely heightened tensions over the trade dispute, and Turkey’s government increased tariffs on U.S. autos to 120% and alcoholic beverages to 140% on Wednesday.
Italian stocks and the iShares MSCI Italy Capped ETF (EWI) are mired in slumps that started earlier this year amid fears Italy could leave the Eurozone. Italy’s markets were upended at the end of May on speculation of the potential rise of an anti-euro zone faction.
Italy ETFs strengthened Monday, with Italian markets posting their best daily gains in over a year, as previous anti-establishment concerns diminish. The iShares MSCI Italy Capped ETF (EWI) rose 3.7% on Monday. Italian markets jumped after Finance Minister Giovanni Tria assured that the country will remain in the euro currency bloc, Bloomberg reports.
Investors should keep a close eye on the ETFs that are especially volatile this week with key events like Fed and ECB meeting as well as US-North Korea summit.
Italy’s growing political crisis spread to financial markets, prompting a backlash from investors funding its highly indebted economy.