|Bid||23.31 x 21500|
|Ask||30.00 x 4000|
|Day's Range||28.25 - 28.42|
|52 Week Range||23.20 - 28.65|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||20.79%|
|Beta (3Y Monthly)||1.36|
|Expense Ratio (net)||0.47%|
A country-specific Italian exchange-traded fund turned into positive territory on Tuesday after a report showed that Italian Prime Minister-designate Giuseppe Conte had sufficient support in an online vote to form a coalition government between the anti-establishment 5 Star Movement and the center-left Democratic Party, easing some worries about disarray in the political front in Rome. According to a Bloomberg News, 5 Star activists voted by 79.3% in favor of Conte's attempt to form the coalition. The iShares MSCI Italy ETF, a popular way to gain exposure to the Italian stock market, was up 0.2% in late-Tuesday trade and had mostly traded in negative territory throughout the session. Italy's FTSE MIB, which closes at 11:30 a.m. Eastern Time, ended its session down 0.3%.
The political chaos in Rome is ongoing, as its two-party coalition has come to an end. About 14 months ago the Lega Nord (Northern League) and the anti-establishment Five Star Movement (M5S) formed a coalition to govern with Giuseppe Conte leading as independent prime minister. Conte resigned Aug. 20 after attacking coalition partner Matteo Salvini, the leader of the League party, who had tabled a no-confidence motion against Conte.
Populist Italian Prime Minister Giuseppe Conte is expected to step down imminently on Tuesday. According to numerous reports, Conte will address the Italian parliament later in the day and then formally submit his resignation to Italian President Sergio Mattarella. Conte's plan to resign comes amid a political dustup with Matteo Salvini, the interior minister and head of the far-left League party, which has been focused on tamping down immigration in Rome. Conte, has been attempting to steer a tenuous coalition between Salvini's League and the antiestablishment 5 Star movement for the past year. Country-specific exchange-traded iShares MSCI Italy ETF , a popular way to gain exposure to Italy's stock market, was trading down 0.7% but has gained 6.9% so far this year.
Italy country-specific and broader Europe ETFs took a hit on growing concerns about the stability of the Italian government's ability to pay back debt. The iShares MSCI Italy Capped ETF (EWI) was among the worst performers on Friday, falling 2.9%. Meanwhile, the broader Vanguard FTSE Europe ETF (VGK) declined 0.6% and iShares MSCI EMU ETF (EZU) was 0.8% lower.
Italy country-specific exchange traded funds stood out among the top performers on Wednesday on rising bets the European Central Bank would implement stimulus ahead and as the European Commission decided ...
New Front in Trade War Over Hong Kong? The Trump Administration appears to be getting involved in the Hong Kong-China extradition crisis. Yesterday the U.S. expressed “grave concern” over legislation that would allow extradition from Hong Kong to China. Hong Kong’s Chief Executive Carrie Lam, whose leadership is stamped by Beijing, says the bill is […]The post Market Morning: US Concerned on Hong Kong, Beyond Meat Beyond Stratosphere, Times Ditches Cartoons appeared first on Market Exclusive.
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.
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.