33.81 0.00 (0.00%)
After hours: 4:42PM EDT
|Bid||33.60 x 29200|
|Ask||35.40 x 46000|
|Day's Range||33.73 - 33.87|
|52 Week Range||28.41 - 37.42|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.90|
|Expense Ratio (net)||0.47%|
Following news that European Union (EU) granted the U.K. a lengthy extension to finalize its divorce from the EU, EWU saw unusual options activity on Thursday. The U.K. now has until October 31 to finalize its departure from the EU, but some market observers believe that extended deadline is merely delaying the inevitable: the departure of Prime Minister Teresa May. Thursday's “bullish betting represents a change of pace for EWU options traders.
The enthusiasm to join the EU in the early 2000s contrasts current sentiment in Europe, where the United Kingdom has been crafting its exit strategy. Its eventual withdrawal will reduce the EU to 27 states and shrink the aggregate economy. Benzinga does not provide investment advice.
Brexit, the U.K.'s effort to depart the European Union (E.U.), was voted on nearly three years ago, but negotiations remain contentious and plenty of market observers expect more political volatility in the U.K. over the next several months.Recently, Prime Minister Teresa May was able to persuade E.U. leaders to give the U.K. more time to prepare for its E.U. departure. Originally, the U.K. was supposed to leave the E.U. in March, but that was pushed back until April 12. The latest effort by May bought the U.K. until Oct. 31, but May's position is still seen as untenable."May had promised to step down if her deal was approved," reports CNBC. "She has already survived a vote of no confidence from within her own party last December (and technically another vote cannot be held within 12 months) but she could be forced to go if there is a dramatic revolt against her."InvestorPlace - Stock Market News, Stock Advice & Trading TipsEven against the backdrop of Brexit volatility, European exchange-traded funds (ETFs) have been solid performers this year. The iShares Europe ETF (NYSEARCA:IEV), which tracks the S&P Europe 350 Index, is up 13.38% year-to-date. IEV allocates almost 28% of its weight to U.K. stocks, by far that Europe ETF's largest geographic exposure. * 10 Stocks That Are Screaming Buys Right Now Here are five Europe ETFs to consider as May fights for her political life and as Brexit talks move forward. iShares MSCI United Kingdom ETF (EWU)Expense Ratio: 0.47%, or $47 annually per $10,000 investedAmong Europe ETFs trading in the U.S., the iShares MSCI United Kingdom ETF (NYSEARCA:EWU) is ground zero for investors looking for Brexit-related ideas. EWU, the largest U.K. ETF trading in the U.S., is up 14.60% this year, indicating British stocks are pricing in a Brexit outcome that is favorable.The $2.33 billion EWU devotes over 20% of its weight to financial services stocks, a meaningful sector allocation because European banks have been front-and-center in the Brexit debate. While this Europe ETF has performed admirably this year, there is some risk that a hard Brexit could sting U.K. banks. British banks, including some residing in EWU, are already taking steps to deal with a post-Brexit world."Nearly 300 financial firms in London have shifted about a trillion pounds in assets to new hubs in the EU to mitigate the uncertainty and avoid disruption to customer ties," according to Reuters.EWU yields 4.44% on a trailing 12-month basis and its financial services exposure is offset by a more than 34% weight to the energy and consumer staples sectors. Xtrackers MSCI United Kingdom Hedged Equity ETF (DBUK) Expense Ratio: 0.45%Predictably, Brexit is affecting the pound, but the Invesco CurrencyShares British Pound Sterling Trust (NYSEARCA:FXB) is up almost 2.70% this year. That Europe ETF measures sterling's performance against the dollar. Should Brexit talks lead to material depreciation by the pound, which would benefit U.K. exporters, the Xtrackers MSCI United Kingdom Hedged Equity ETF (NYSEARCA:DBUK) is a Europe ETF that would benefit.Although DBUK is designed to deliver upside when the pound weakens against the U.S. dollar, the Europe ETF is up 12% this year even with the British currency trading higher. DBUK's underlying index features a currency hedge, but the index is similar to the one tracked by the aforementioned EWU, so DBUK's sector weights are also similar to those found in its unhedged rival. * The 10 Fastest-Growing Stocks to Invest In Right Now "Nigel Green, CEO at the deVere Group, said the pound could benefit in the short-term from added time for Brexit negotiations and Britain not leaving without a deal this Friday," reports The Express. ProShares MSCI Europe Dividend Growers ETF (EUDV)Expense Ratio: 0.55%Dividend strategies can provide investors with buffers against macro volatility, some of which could still be looming for Europe ETFs thanks to Brexit. That could heighten the utility of the ProShares MSCI Europe Dividend Growers ETF (CBOE:EUDV), a Europe ETF that requires member firms to have dividend increase streaks of at least a decade.Unlike the other Europe ETFs highlighted above, EUDV is not a dedicated U.K. fund, but British equities do command 39.63% of the fund's weight, which is by far EUDV's largest geographic exposure. France and Switzerland, two other dependable European dividend growth markets, combine for almost 23% of EUDV's weight.Even against the backdrop of Brexit, U.K.-based companies are expected to post modest dividend growth this year while EUDV's other geographic exposures could deliver higher percentages of payout growth. First Trust United Kingdom AlphaDEX Fund (FKU)Expense Ratio: 0.80%Most Europe ETFs and U.K. funds are cap-weighted products, but the First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU) presents investors with a smart beta avenue to U.K. equities.FKU's underlying index, the NASDAQ AlphaDEX United Kingdom Index, identifies securities by "ranking the eligible stocks from the NASDAQ United Kingdom Index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets," according to First Trust.Home to 75 stocks, this Europe ETF is a different beast than rival U.K. funds. The median market value of FKU's holdings is $8.35 billion, putting the fund in mid-cap territory. Additionally, FKU is a play on how the British consumer will react to Brexit as the fund carries an 18.59% weight to consumer discretionary stocks … its largest sector allocation. * 7 Energy Stocks to Buy as Oil Booms Overall, this Europe ETF is not as a defensive as traditional U.K. funds, which could be a good thing or a bad thing depending on how Brexit ultimately shakes out. iShares MSCI Europe Small-Cap ETF (IEUS)Expense Ratio: 0.40%Some market observers have been discussing Brexit-related opportunities with small U.K. stocks. A diversified Europe ETF for playing that theme is the iShares MSCI Europe Small-Cap ETF (NASDAQ:IEUS). Home to nearly $283 million in assets under management, this Europe ETF tracks the MSCI Europe Small Cap Index and holds just over 1,000 stocks.While there are many small-cap opportunities in Europe, Europe ETFs dedicated to smaller companies usually feature significant weights to the U.K. With a U.K. weight of 33.78%, IEUS is not an exception to that rule. Overall, roughly 15 countries are represented in this Europe ETF.IEUS is a heavily cyclical fund with almost 34% of its combined weight allocated to industrial and consumer discretionary names. With a standard deviation of 14.43%, IEUS is actually less volatile than the U.S.-focused Russell 2000 Index, but volatility could rise for the Europe ETF if a hard Brexit comes to pass.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post 5 Europe ETFs to Consider As Talks of Brexit Continue appeared first on InvestorPlace.
Comcast Stock Rises after Receiving an Analyst Upgrade(Continued from Prior Part)Comcast’s revenue from Sky Comcast’s (CMCSA) revenue rose 26.1% YoY (year-over-year) to $27.85 billion in the fourth quarter, during which both its Cable
Democrats to Vote to Subpoena Mueller Report “We need that report turned over. Look at every prior case of independent counsel and special counsel, they’ve turned over the entire report within a day or two,” said Representative Jamie Raskin, a House Judiciary Democrat. “What’s taking place here is a sharp break from precedent.” Democrats are […]The post Market Morning: Democrats Subpoena, May & Auto Sales Soften, Boeing Woeing, China Talks appeared first on Market Exclusive.
British Prime Minister Theresa May told members of her Conservative Party that she will step down ahead of a second phase of talks on how the country will exit the European Union — the troubled process known as Brexit. Conservative Party members of Parliament told Reuters and other media outlets that May said in a private meeting that if she can get an agreement to carry on with a plan for leaving the economic bloc approved she would then step down. “I know there is a desire for a new approach, and new leadership, in the second phase of the Brexit negotiations, and I won’t stand in the way of that,” May told Conservative Party lawmakers, according to excerpts released by Downing Street and reported by the Washington Post.
MPs voted 329 to 302 to back an amendment put forward by Conservative MP Sir Oliver Letwin that will allow Parliament to vote on alternative Brexit plans, known as indicative votes. May finally brought her deal to Parliament for scrutiny in mid-January, amid accusations by opposition MPs that she was running down the clock to the Brexit date (this Friday, 29 March), in order to force MPs to back her deal.
British Prime Minister Theresa May looks to have conceded defeat on her Brexit deal, concluding today that there was not enough support for the deal to return for a third vote, leaving the way open for Parliament to take control of the Brexit process. Following discussions with the Labour Party leader Jeremy Corbyn and the leader of the Democratic Unionist Party (DUP), the Government's position was rejected by both leaders. The Labour Party is supporting an amendment to the Government motion on its Withdrawal Bill that will see indicative votes on alternative ways forward.
While the U.K. continues wrangling with various elements of Brexit, the country’s departure from the European Union (EU), U.K. stocks and the related exchange traded funds are soaring. The iShares MSCI ...
Black Box Details Revealed on Ethiopian Airlines Flight 302 According to Reuters, the Boeing (NYSE:BA) 737 Max 8 that crashed soon after takeoff had an unusually high speed just after takeoff before the plane began reporting problems. It then asked permission to climb quickly. Pilots then urgently asked permission to return to the airport. Rueters’ […]The post Market Morning: Black Box Details, Brexit Referendum 2, Postpartum Drug, Oil Short Squeeze? appeared first on Market Exclusive.
Parliament voted by 312 votes to 308 to amend the Government's motion from rejecting a no deal Brexit on 29 March, to rejecting no deal in perpetuity. Following the vote on the amendment, the main motion, as amended (that is that no deal has been rejected by Parliament in perpetuity) was passed by 321 votes to 278, though this vote is not legally binding. Brexit is subject to Article 50, and therefore in law that the UK will leave on 29 March, it will require action from Government to either change the law, repeal Article 50 (thereby remaining in the EU) or to come up with a deal that will pass through Parliament.
While United Kingdom stocks rebounded Wednesday after the no-deal vote, the country-related ETFs remain depressed with lingering concerns weighing on the market. The iShares MSCI United Kingdom ETF (EWU) , the largest U.K.-related ETF, was up 1.2% Wednesday and gained 10.8% year-to-date. “When you get into markets less impacted by quantitative easing you see more of an impact [from Brexit],” Jon Jonsson, a global bond investor at Neuberger Berman, told the Wall Street Journal.
The iShares MSCI United Kingdom Index (NYSE: EWU) and Vanguard FTSE Europe ETF (NYSE: VGK) opened slightly higher Wednesday after U.K. lawmakers voted down another Brexit deal proposed by Prime Minister Theresa May. “We regret the outcome of tonight's vote," the spokesperson said. The EU is willing to consider a “reasoned request for an extension” to the March 29 Brexit deadline, according to Tusk’s spokesperson.
Members of Parliament in the United Kingdom (UK) voted by 149 votes, 391 to 242, to defeat Prime Minister Theresa May's Withdrawal Agreement. The defeat now means that Parliament will vote on whether to reject a no deal Brexit tomorrow and whether to extend Article 50 on Thursday, March 14. The uncertainty in the UK has ratcheted up another notch.
Over the past week, #japanification has been trending among economists and investors on Twitter. The term has been on investors’ minds since the European Central Bank warned last week that economic growth in the eurozone would be much lower in 2019 than it previously anticipated. What Is Japanification? "Japanification" is the idea that an economy could endure a prolonged period of low-growth expansion accompanied by low levels of inflation.
Global markets sank Thursday after the European Central Bank cut its 2019 economic growth forecast and announced a new round of longer-term refinancing operations (TLTRO) stimulus for European banks. The ECB cut its 2019 Eurozone growth forecast from 1.7 percent to 1.1 percent. It also announced a third round of bank stimulus that will begin in September and run through March 2021.
An Update on Alibaba’s Recent AcquisitionsAlibaba raises stake in CICCAlibaba Group Holding (BABA) has reportedly invested another 1.81 billion Hong Kong dollars (or $230.61 million) to expand its stake in local investment bank CICC (China
To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing. The weekly performance is from last Friday’s open to this week’s Thursday close.
Investors may want to stay away from United Kingdom markets and country-specific ETFs ahead of the Brexit vote as Britain’s equities will likely suffer regardless of the results. “If you get a scenario ...
Comcast’s Q4 Earnings Results Boost Its Stock(Continued from Prior Part)Comcast beats revenue estimate In the fourth quarter, Comcast’s (CMCSA) revenue rose 26.1% YoY (year-over-year) to $27.85 billion, beating analysts’ estimate of $27.55