|Bid||57.53 x 200|
|Ask||58.50 x 400|
|Day's Range||60.00 - 60.46|
|52 Week Range||49.37 - 63.60|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.10%|
The break below key support levels on Europe-focused ETFs suggests that the region's financial markets could be setting up for a pullback.
The biggest political risk to markets could arise from a trade war that has been playing out ever since Donald Trump came to power. President Trump has repeatedly threatened to terminate NAFTA (North American Free Trade Agreement), which is important to all three member countries: the US, Canada, and Mexico. There has been much discussion ahead of the NAFTA renegotiation deadline in March. The question arises whether abandoning NAFTA could bolster US economic interests.
The euro was the best-performing currency among the G7 (Group of Seven) currencies. Most of them fell against the US dollar, which rebounded on the back of improved inflation expectations in the United States and a round of profit booking among currency traders. European equity markets (VGK), along with their global peers, moved lower last week.
The company witnessed sales worth 816 million pounds for its vaccines franchise in the US market in 3Q17, a YoY increase of 13% on a reported basis and 6% on a constant-exchange-rate (or CER) basis. GlaxoSmithKline earned revenues close to 431 million pounds from the sale of vaccines in Europe in 3Q17, which is a YoY rise of 11% on a reported basis and 6% on a CER basis.
The US Bureau of Economic Analysis’s recently released advance estimate for 4Q17’s GDP indicates that the US economy grew 2.6% during the quarter, considerably lower than 3Q17’s growth of 3.2%. While markets (SPY) grumbled about the decline in economic growth, the decline should not be a reason to worry. Although GDP growth appears to be below 3%, recent macroeconomic data from the US suggests improvement in the economy.
Ripple has seen a significant slump that has taken it back to the number three position among cryptocurrencies (ARKW) by market capitalization. Ripple had once crossed the market cap of $100 billion. This cryptocurrency is designed to make global money transfers more efficient and could allow central banks to free up capital.
In 3Q17, GlaxoSmithKline (GSK) reported revenues close to 1.6 billion pounds from the sale of its respiratory products, which is year-over-year (or YoY) growth of 1% on a reported basis. The company witnessed sales worth 813 million pounds for its respiratory franchise in the US market in 3Q17, which is YoY growth of 1% on a reported basis and a drop of 1% on a constant exchange rate (or CER) basis. GlaxoSmithKline earned revenues close to 334 million pounds from the sale of respiratory products in Europe in 3Q17, which is a YoY rise of 2% on a reported basis and a drop of 1% on a CER basis.
The Euro–dollar (FXE) exchange rate remained above its three-year peak to close the week ended January 19 at 1.2222, appreciating by 0.29% against the US dollar (UUP). This appreciation of the euro occurred before the positive political development in Germany, in which Chancellor Angela Merkel was able to persuade Social Democrat party to enter a formal coalition. European equity markets (VGK) appreciated as the German DAX (DAX) gained ~1.4% for the week ended January 19.
Eurozone (FEZ) (VGK) investor confidence has shown strong improvement in December 2017. The Sentix Investor Confidence Index is at 32.9 so far in January 2017 as compared to 31.1 in the previous month, beating the market expectation of 31.5. This index is one of the leading indicators of the Eurozone (N100-INDEX) (VGK) (IEV).