|Bid||28.20 x 1800|
|Ask||35.80 x 800|
|Day's Range||28.16 - 28.34|
|52 Week Range||25.95 - 36.38|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.30|
|Expense Ratio (net)||0.47%|
According to a report by Markit Economics, the final Spain Services PMI showed a weaker improvement in June than in May. It stood at 55.4 in June compared to 56.4 in May. The figure didn’t meet the preliminary market estimate of 56.2.
According to a report by Markit Economics, Spain’s manufacturing PMI (purchasing managers’ index) remained unchanged in June. It stood at 53.4 in the month, unchanged from the same figure in May.
According to Markit Economics, Spain’s service PMI rose marginally month-over-month in May, to 56.4 from 55.6. It beat the market estimate of 56.1 but marked its weakest expansion since December 2017.
Portugal, Italy, Greece and Spain - the so-called PIGS group - country-specific exchange traded funds were among the best performers Wednesday as these peripheral Eurozone equity markets rebounded on diminished fears that a breakdown in the euro currency bloc would happen any time soon. On Wednesday, the Global X FTSE Portugal 20 ETF (PGAL) surged 4.2%, iShares MSCI Italy Capped ETF (EWI) jumped 4.3%, Global X MSCI Greece ETF (GREK) increased 4.2% and iShares MSCI Spain Capped ETF (EWP) advanced 2.8%. Meanwhile, the Vanguard FTSE Europe ETF (VGK) , the largest Europe-related ETF, gained 1.9%.
According to a report by Markit Economics, the final Spain Services PMI (Purchasing Managers’ Index) showed a weaker rise in April than in March. It was 55.6 in April compared to 56.2 in March. The figure didn’t meet the preliminary market estimate of 56.1 and was the weakest expansion in services activity since December 2017.
According to a report by Markit Economics, Spain’s manufacturing PMI has been falling gradually since February. It stood at 54.4 in April compared to 54.8 in March. April’s PMI figure beat the preliminary market estimate of 54.2. April’s figure pointed to the lowest expansion in factory activity since September 2017.
The ECB (European Central Bank) made no changes to its APP (asset purchase program) at its April meeting, maintaining that its purchase rate of 30 billion euros in debt securities per month will continue until the end of September 2018 or beyond if necessary. Recent developments indicate that the ECB is looking to end the APP, and this may be a good time to do so, as economic progress is encouraging. Whereas it’s not likely the ECB stops bond purchases abruptly in September, it could announce a plan to taper off purchases by the end of the year or early next year.
The iShares MSCI Spain Capped ETF (EWP) , the largest ETF tracking stocks in the Eurozone’s fourth-largest economy, was one of last year's best-performing single-country Europe ETFs. This year, EWP is modestly higher, but the stage is set for the Spain ETF to generate more upside for investors. Ebbing political volatility in Spain and some major improvements to local economic data are helping drive stocks there higher.
According to Markit Economics, the final Spain services PMI showed a weaker rise in March as compared to February 2018. It stood at 56.2 in March as compared to 57.3 in February 2018. The PMI figure met the preliminary market estimate of 56. It was the weakest expansion in service activity since January 2018.
According to a report by Markit Economics, Spain’s manufacturing PMI stood at 54.8 in March as compared to 56 in February 2018. The March PMI figure met the preliminary market estimate of 54.8, but it was the lowest expansion in factory activity since October 2017.